Paragon Bank has provided a £300,000 Coronavirus Business Interruption Loan (CBILS) to the UK’s largest provider of sliding sash windows, Victorian House Sales Ltd. The loan has enabled Victorian House Sales Ltd to recover from cash flow issues, which arose from having to shut down all business for several weeks during the pandemic. The loan […]
A software firm which helps accountants analyse their clients’ data is launching a new service to enable banks and financing firms make better lending decisions. The cloud-based service uses an API (app programming interface) to extract financial data in minutes and present it to the lender in an easy to understand standardised format. Ledgerflow, the […]
Landbay, one of the UK’s leading specialist buy-to-let lenders, has today reduced the rate on its Special Edition two-year fixed rates for both 60% and 70% LTV by 14 and 10 basis points respectively. The rates are now amongst the most competitive specialist buy-to-let rates in the market. Landbay, which is institutionally funded, has also […]
P2P lending platform Proplend announced this week that it had broken through the £100m lending milestone across the platform (£102m as of today), returned over £47m of capital and paid £10m of interest to its Lender base. Proplend Limited is a fully FCA authorised peer-to-peer lending platform specialising in sub £5m, secured commercial property loans […]
The total value of construction contract awards in August 2020 was £4.4 billion based on a three-month rolling average. This is 21.2% higher than for July but is a decline of 8.5% compared with August 2019. The rolling three-month average data is positive, but examination of the raw monthly data shows that contract awards in […]
RSM has advised on the successful restructurings of the Thai Leisure Group and Aldo UK, preserving over 700 jobs and protecting over £30m of investment. Thai Leisure The Thai Leisure Group CVA (Company Voluntary Arrangement) was approved late last night, securing 90% support from creditors. Ian Leigh, MD of the Thai Leisure Group comments: ‘We […]
A customer has successfully completed two double-quick deals in just five days each with Aspen, smashing the lender’s own Time-Based Service Excellence Targets. Both cases were auction purchases which had entered notice period deadlines and needed fast solutions to enable completion. The company was initially approached in July to purchase and renovate a detached property […]
ThinCats, the leading alternative lender to mid-sized businesses, has supported independent FCA approved corporate insurance broker Todd & Cue with the completion of a re-finance transaction. Based in Gateshead, Todd & Cue specialise in the placement of insurance programmes for a wide spectrum of clients including public companies, recognised professional practices, financial institutions, private companies, […]
Bounce Back loans, the most popular HM Treasury support measure, used by SMEs are running low, finds the latest insights1 from fintech business lender MarketFinance. These SMEs are aware they can get more HM Treasury support by applying for larger loans through the Coronavirus Business Interruption Loan Scheme (CBILS) but did not know the deadline […]
Tourism and recreation joined 12 other UK sectors that are outperforming their international counterparts on a series of metrics tracking recovery from Covid-19 in August, according to Lloyds Bank. The Lloyds Bank UK Recovery Tracker, working with IHS Markit, provides unique insight into the shape and pace of the UK’s recovery following the unprecedented disruption […]
