Bridging and development lender, Fiduciam, has set up a new specialist development team with plans to expand its development lending in the UK and Ireland. It has set a target of £140m for new development, permitted development and conversion lending in 2022. Fiduciam is increasingly well established in the development finance segment. In 2021 it […]
Committed to assisting SMEs in obtaining finance for future growth, Allica Bank has revamped its commercial mortgage products to help improve access to finance. The changes include reducing interest rates and increasing the maximum Loan-To-Value (LTV). The bank has also increased procuration fees for its broker community. The product portfolio was updated in response to […]
Mercantile Trust, the specialist buy-to-let, bridging and commercial lender, has made a raft of significant improvements across its buy-to-let proposition. First of all, significant enhancements have been made to their lending criteria: Top slicing now available using surplus rental income from the portfolio No minimum income First time landlord, first time buyers with no requirement […]
Hodge will now accept 30 weeks occupancy as a rental yield projection for its holiday let mortgages. It previously allowed calculated rental income using an average of projected low, medium and high season weekly rental yield based on 26 weeks occupancy but has now increased this by four weeks to 30. The bank has done […]
Industry leading specialist lender, West One Loans, has successfully completed a large, complex, regulated bridging loan for a HNW property professional. The case, packaged by Y3S, carried multiple complexities, and required expert underwriting and teamwork between the packager and lender to secure finance for the borrower. The client, a successful property investor, needed to secure […]
A £1.5bn home building fund offering loans to SMEs to help them deliver 42,000 new houses across the country has received a lukewarm response from the construction industry. The National Federation of Builders, NFB, has said the loan scheme would only be of any use if smaller housebuilders could borrow prior to gaining planning permission. […]
Kent Reliance for Intermediaries, part of the specialist lender OSB Group, has completely refreshed its entire buy-to-let range with rate reductions of up to 70bps, no maximum loan limits on selected products and new £0 product fee options available for purchases and remortgages. The range is designed to suit any property type, making it easier […]
In a first step towards its goal of becoming a fully-fledged fintech business, short term lender Black & White Bridging (B&W) has launched a new website to better support its introducing brokers and give them an easier interface experience from enquiry to completion. Designed to support the lender’s already popular transparent proposition, the site offers […]
UK mortgage lender Enra Specialist Finance has announced today, that it has completed its second public securitisation, backed by a portfolio of buy-to-let and prime second charge mortgages. The transaction comprises a £285m portfolio of first charge BTL and prime second-charge mortgages, originated under Enra’s lending brand West One Loans. The securitisation follows a record […]
United Trust Bank’s property development loan book has exceeded £1bn for the first time following a record year of new originations. The specialist lender has expanded the property development sales team to 24 property development directors and managers supporting housebuilders operating across England and Wales. In addition, last year UTB formed a number of strategic […]
