PCF Bank, the AIM listed specialist bank, has completed a £711,000 ‘finish and exit’ bridging loan to support a client with the conversion of three barns in Somerset. The client required a refinance of their existing facility, funds to complete the remaining work and a small capital raise for their next project. PCF stepped in […]
Aspen Bridging has completed a complex £1.5m gross bridge-to-let (BTL) application on a luxury two-bedroom apartment in Mayfair, in doing so supporting a business plan not seen before in the UK. The overseas applicant will use the funds to purchase the property and then sell shares in the home to new owners, creating a timeshare ownership model […]
Specialist lender Together has provided a £7.5m bridging loan for an experienced student landlord to expand his portfolio. The entrepreneur, who owns property across the UK, had initially spent more than five months attempting to secure the finance he wanted to buy a purpose-built student accommodation block in Birmingham. As the deadline to complete the […]
Assetz Capital, the leading alternative lending platform specialising in funding SME housebuilders, and LDS, creators of the Sales Guarantee, announced today that they will partner to launch an end-to-end finance package for SME housebuilders, combining bespoke development loans with an LDS Sales Guarantee. The package will enable developers to obtain funding for up to 95% of project costs […]
Fiduciam, the institutionally funded bridging and development lender, has provided a £3.62 million loan to assist with both the acquisition and development costs of a conversion scheme in Newark-on-Trent. The 30-month facility was completed within two weeks of planning permission being granted. The project involves the conversion of a Victorian mill into 39 flats. The […]
The specialist lender Atelier has overhauled its application process to increase efficiency while maintaining the rigour of its credit standards. Rather than having to go through a lengthy, one-size-fits-all form, registered brokers applying to Atelier on behalf of a property developer can now upload their own documents to provide all the required information. Atelier, which […]
Specialist lender Together today announced it has broken its all-time lending record for the second month in a row. The finance group, which provides personal and commercial mortgages, bridging loans and development finance across the UK, revealed its monthly figures for May – and total new lending of £300.8m. The figure, which includes lending for […]
After a successful three-month pilot, today Spring Finance launches its specialist bridging proposition to the wider market. The specialist lender says it will be offering a comprehensive range of loans to support intermediaries and customers with the aim of building a trusted and respected funder that makes quick, robust decisions and provides a flexible, supportive […]
New research out today from Smart Money People, the UK’s largest financial services review site, has found that broker satisfaction with UK mortgage lenders has levelled out for H1 2022, as the market prepares to respond to changing customer needs with the cost of living crisis. Building societies remain the top rated sector for broker satisfaction, […]
Central Trust, the first and second charge lender, has today (20 June 2022) extended the availability of its Consumer Buy-to-let (CBTL) mortgage proposition by making it available to borrowers in Northern Ireland. CBTL mortgages are regulated by the FCA. They are suitable for landlords who originally purchased the property with absolutely no intention to rent […]
30/05/2022
Edition 300 – May 2022
Regulator, heal thyself By Business Money group editor Robert Lefroy 30 years...
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