Penrith-based Genesis Homes, a housing developer, has secured £1m of Coronavirus Business Interruption Loan Scheme funding through Santander UK, to continue its roll out of housing development sites in the coming year. Since launching in 2017, Genesis Homes has built and sold a total of 158 homes over five developments. The funding package will ensure […]
Growth Street has announced today that their investors will receive 100% recovery of balances assigned on the occurrence of the Resolution Event called in June 2020. Kim Goetzke, COO of Growth Street said: “Returning as much of each investor’s assigned balance, as quickly as possible, has been a core focus since we declared the Resolution […]
United Trust Bank (UTB) has increased the maximum LTV available on its standard and light refurbishment bridging loans to 65% with immediate effect Key features of UTB’s bridging offering include: Max 65% LTV Rate card from 0.48% pm <50% LTV Loan size from £125k to £15m Minimum property value £150k (or £100k for multiple securities) […]
Specialist business property adviser, Christie & Co, has brought to market a former children’s day nursery in Alford, Aberdeenshire. Established over 25 years ago, this former day nursery, previously operating as Alford Day Nursery, comprises a nursery with effective operating capacity for 30 children aged zero to five-years-old, and a lovely four-bed owner’s accommodation attached. […]
UK bank earnings are likely to improve in 2021, but the sector must first negotiate a tricky start to the year, including renewed Covid-19 lockdown restrictions, S&P Global Ratings said in a report published today on RatingsDirect titled UK Banks Face A Bumpy Road To Earnings Recovery In 2021. However, the early implementation of a […]
Castle Trust Bank has become the latest lender to join the Mortgage Market Alliance (MMA) as a founder member. The MMA launched last year to provide a collaborative voice for the mortgage industry in promoting the availability of lending and the value of professional advice. Castle Trust Bank offers loans for a variety of investments, […]
Greymax Capital has become the latest lender to join the Association of Short Term Lenders (ASTL). Based in London, Greymax Capital offers a return to true relationship bridging, operating with private capital and providing direct access to its principals and underwriters. As seasoned property agents, investors and developers the directors of Greymax Capital understand property […]
Aspen is starting 2021 on the front foot with the launch of a new Light Development bridge and an increase in its maximum loan size to £5m net across the whole product range. Covering residential conversion schemes, finish and exit projects, structural works and extensions plus lighter refurbishments, the new Light Development product is available […]
Arbuthnot Commercial Asset Based Lending (“ABL”) has structured a £6.5m facility for IT Fleet Automotive (ITFA), comprising a £4.5m receivables finance line, together with an additional £2m CBILS term loan. The combined refinance package provides further liquidity for the business to manage the impact of Covid-19 and an increase in working capital to fund future […]
New figures from trade body UK Finance have revealed that in the first nine months of 2020, banks lent twice as much to SMEs in the UK as they did during the whole of 2019. The majority of these loans came in the form of government backed schemes such as the 100% guaranteed Bounce Back […]
