News


largemortgageloans.com names new MD
Posted on Thursday November 16, 2017

Largemortgageloans.com has named Richard Merrett as its new managing director

FCA launches events for regulated mortgage firms
Posted on Thursday November 16, 2017

The FCA has announced the launch of a series of events for regulated mortgage firms

Smart Money grows Scottish operations
Posted on Thursday November 16, 2017

Smart Money has announced it has moved its Glasgow operations to larger premises

Pension savers admit retirement envy
Posted on Thursday November 16, 2017

Pension savers in their final years of work are worried they won’t be able to match the living standards of those already in retirement, according to new research from Prudential

Fluent for Advisers appoints BDM
Posted on Thursday November 16, 2017

Fluent for Advisers has announced the appointment of David Paton as a business development manager

Mortgage broker names new MD
Posted on Thursday November 16, 2017

Largemortgageloans.com has named Richard Merrett as its new managing director

New second charge business volumes fall in September
Posted on Thursday November 09, 2017

The number of new second charge mortgages agreed in September fell 2% compared with the same period last year, according to new figures

Clever introduces dual fee option for seconds
Posted on Thursday November 09, 2017

Clever Lending has streamlined and simplified its second charge fees with a dual fee structure that offers customers a choice depending on their circumstances

Equifinance names new general manager
Posted on Thursday November 09, 2017

Specialist second charge mortgage lender Equifinance has announced the appointment of Gary Smith (pictured above) as its general manager

Fluent predicts steady growth for seconds in 2018
Posted on Thursday November 09, 2017

Fluent for Advisers believes that the rise in new business numbers recorded in 2017 will continue in 2018

The benefits of regional partnerships
Posted on Thursday November 09, 2017

It has been a busy week following the launch of our three new regional partnerships with Glasgow Money, Teesside Money and Manchester Money and all this on the back of the successful launch of Cardiff Money back in April

FCA PPI helpline receives 9,410 calls in September
Posted on Thursday November 02, 2017

The FCA has revealed that it received 9,410 calls, 440 emails and 1,522 web chat conversations in September in response to its PPI campaign

Bluestone launches online broker portal
Posted on Thursday November 02, 2017

Specialist lender Bluestone Mortgages has launched Bluelink – its new online broker portal – as it looks to enhance its intermediary offering

London Money expands regional presence
Posted on Thursday November 02, 2017

London Money has announced that it is expanding its operation outside of London following an increase in demand

YBS claims borrowers are turning to fixed rate mortgages
Posted on Thursday November 02, 2017

The number of borrowers seeking fixed rate mortgages increased significantly in the run up to this week’s bank base rate rise, according to Yorkshire Building Society

Demand for five-year fixed rate remortgages hits record high
Posted on Thursday November 02, 2017

More than two-fifths of remortgage customers (42%) chose a five-year, fixed rate product in September, according to conveyancing service provider LMS

FP Show to feature later life lending and GDPR speeches
Posted on Monday October 30, 2017

The Finance Professional Show (FP Show) has added two extra speaking events to its programme

Paragon expands portfolio and non-portfolio BTL ranges
Posted on Thursday October 26, 2017

Paragon has announced that it has extended its buy-to-let product range with the addition of four two-year, fixed portfolio products, starting at 2.99% with 75% LTV

TMA encourages advisers to contact customers sitting on SVRs
Posted on Thursday October 26, 2017

TMA Mortgage Club has encouraged advisers to contact customers on standard variable rates (SVR) to ensure that their clients are getting the best possible terms on their mortgages

FCA reveals results of its Financial Lives Survey
Posted on Thursday October 26, 2017

The FCA has revealed the findings of its first Financial Lives Survey

Fluent bolsters senior team
Posted on Thursday October 26, 2017

Fluent Money Group has announced three new appointments to its underwriting, sales and finance departments

Mortgage Brain prepares for GDPR
Posted on Thursday October 26, 2017

Mortgage Brain has announced that its products will fully adhere to the new rules set out by the General Data Protection Regulation (GDPR)

69% of brokers report increase in demand for 35-year mortgages
Posted on Thursday October 19, 2017

Nearly seven out of 10 mortgage brokers (69%) have reported an increase in demand for 35-year mortgages, according to a new study

Education is high on the agenda, but only beneficial if listened to
Posted on Thursday October 19, 2017

It has always been apparent that more education is required about the specialist finance industry and the products on offer, especially within the mortgage networks and particularly around the adverse and credit repair sector (but that’s not for now)

Fluent Money increases recruitment drive
Posted on Thursday October 19, 2017

Fluent Money Group has announced that it is ramping up its recruitment drive for its second charge businesses to keep up with the increased volumes of new business

Why brokers should be embracing technology, not fearing it
Posted on Thursday October 19, 2017

In a world where everything is done at a touch of a button, why should mortgages be any different? Some brokers are fearful of technology

SimplyBiz launches second series of learning and development events
Posted on Thursday October 19, 2017

SimplyBiz has announced this year’s second round of learning and development events to be held at 21 venues across the country

First Complete invests in BTL mortgage start-up
Posted on Friday October 13, 2017

First Complete has made a minority investment in digital buy-to-let broker Property Master

Equity release customers save up to £75,000
Posted on Friday October 13, 2017

Equity release customers are saving up to – or in excess of – £75,000, according to research by Key Retirement

Second charge mortgage market growth continues in August
Posted on Friday October 13, 2017

New second charge mortgage business increased 25% by value and 11% by volume in August compared with the same period last year, according to the latest research

Are advisers more engaged with digital services?
Posted on Friday October 13, 2017

The SimplyBiz Group has reported an increase in adviser interest in offering digital solutions to their clients, alongside traditional face-to-face advice

John Charcol reports increase in second charge activity
Posted on Thursday October 12, 2017

John Charcol has experienced an increase in second charge activity by its clients

Tesco Bank posts 144% rise in pre-tax profit
Posted on Thursday October 05, 2017

Tesco Bank has reported that profit before tax for the six months ended 31st August 2017 was 143.9% higher than for the same period last year

Equity Release Council names new chairman
Posted on Thursday October 05, 2017

The Equity Release Council has announced David Burrowes as its incoming chairman

Credit Kudos receives green light from FCA
Posted on Thursday October 05, 2017

Credit Kudos has been granted authorisation from the FCA to operate as a fully regulated credit reference agency

AA Mortgages launches new two-year fix
Posted on Thursday October 05, 2017

AA Mortgages has added a two-year, fixed term mortgage to its relaunched range, which was announced last month

Mortgage Brain adds new master brokers to second charge sourcing system
Posted on Thursday October 05, 2017

Mortgage Brain has enhanced its integrated second charge sourcing capability by expanding the master brokers available to networks and companies

Welsh credit union goes out of business
Posted on Friday September 29, 2017

West Wales Credit Union Limited has stopped trading, is now in default and is unable to repay deposits to its 1,700 members

Tipton introduces discounted mortgage rate products
Posted on Thursday September 28, 2017

Tipton and Coseley Building Society has launched its lowest-ever discounted mortgage rate products

Broker urges against rushing into long-term fixed rate deals
Posted on Thursday September 28, 2017

Remortgage experts at Choice Finance are urging homeowners to discuss with a broker how they can best take advantage of the current climate and reduce their outgoings

Embracing second charge mortgages
Posted on Thursday September 28, 2017

Throughout this year I have found myself talking with more and more mortgage advisers who are embracing the benefits of offering their clients second charge mortgage products and hearing the same responses

Step One launches new personal loan products
Posted on Thursday September 28, 2017

Step One Finance has launched a new range of personal loan products and a redesigned website

Target announces senior appointments
Posted on Thursday September 21, 2017

Target Group has announced several new senior appointments to its board of directors and within its leadership team

West One provides £100,000 second charge mortgage
Posted on Thursday September 21, 2017

West One Loans and Pink Pig Loans have combined to provide a £100,000 second charge mortgage to fund home improvements on a £1.5m property for a self-employed client

1,000 advisers pass Level 4 advanced mortgage exam
Posted on Thursday September 21, 2017

The Society of Mortgage Professionals has reported that 1,000 advisers have now passed the RQF Level 4 Certificate in Advanced Mortgage Advice

AA launches its lowest loan rate
Posted on Thursday September 21, 2017

The AA has cut rates for its personal loans to 3% APR while members are set to see rates fall to 2.9% APR

What borrowers should do if living in a low acceptance rate area
Posted on Thursday September 21, 2017

Mortgage brokers Choice Finance has provided key advice for homebuyers on how to boost their chances of securing a mortgage in the East Midlands

FP Show launches companion app
Posted on Wednesday September 20, 2017

The Finance Professional Show (FP Show) has launched its companion app for the event’s visitors

Habito launches TV ad
Posted on Thursday September 14, 2017

Online mortgage broker Habito has announced the launch of its first-ever TV ad

Openwork to fund training for mortgage advisers to become wealth advisers
Posted on Thursday September 14, 2017

Financial services partnership Openwork has announced the launch of a new study programme called ‘Route to Wealth’, which aims to upskill mortgage advisers to become fully qualified wealth advisers

Major review of debt advice funding underway in the UK
Posted on Thursday September 14, 2017

A major independent review of the funding of debt advice has reached a key milestone with the launch of a ‘call for evidence’

Second charge business surges in July
Posted on Thursday September 14, 2017

Second charge new business lending in July increased 23% by value and 21% by volume, compared with the same period in 2016, according to the Finance & Leasing Association (FLA)

Teachers extends maximum term to 40 years
Posted on Thursday September 14, 2017

Teachers Building Society has extended its maximum mortgage term from 35 years to 40 years as it looks to help buyers with affordability

Building society secures £15m investment
Posted on Thursday September 07, 2017

The Cambridge Building Society has announced that it is receiving a £15m investment from the Cambridgeshire County Council pension fund

Why should you use a mortgage intermediary?
Posted on Thursday September 07, 2017

Following the Intermediary Mortgage Lenders Association’s (IMLA) recent figures which showed that 88% of mortgage applications via intermediaries resulted in offers, one broker has highlighted why using one is important

Homeowners fix for longer to guarantee certainty
Posted on Thursday September 07, 2017

Fewer homeowners remortgaged to lower their monthly payments in July, according to new research from LMS

Borrowers snap up competitive mortgage deals
Posted on Thursday September 07, 2017

Borrowers have been snapping up competitive mortgage deals ahead of the biggest maturity period in five years, according to a new report

Shaking off second charge loan misconceptions
Posted on Thursday September 07, 2017

I recently received a call from a broker asking for some advice about a prime customer who was presenting a case that seemed ideal for a second charge loan

FP Show 2017 announces keynote speaker
Posted on Monday September 04, 2017

Sir Christopher Meyer will be opening this year’s Finance Professional Show (FP Show) with the keynote speech.

Mortgage servicing business set to be acquired for £15.5m
Posted on Thursday August 31, 2017

Arrow Global Group PLC has announced the proposed acquisition of Mars Capital’s UK and Irish mortgage servicing businesses for £15.5m

Has the quality of advice improved since MCD?
Posted on Thursday August 31, 2017

Over half of mortgage finance professionals believe that the quality of advice has only improved slightly since the implementation of the Mortgage Credit Directive (MCD)

88% of mortgage applications via intermediaries result in offers
Posted on Thursday August 31, 2017

Nearly nine out of 10 (88%) mortgage applications made via intermediaries resulted in offers during Q2 2017, according to the latest Mortgage Market Tracker from the Intermediary Mortgage Lenders Association (IMLA)

Thousands seek help from Citizens Advice after home improvement problems
Posted on Thursday August 31, 2017

Citizens Advice has revealed that its consumer service helped people with 40,000 problems related to home maintenance and improvements last year

YBS introduces two-year fixed mortgage at 1.19%
Posted on Thursday August 31, 2017

Yorkshire Building Society has announced the launch of a new two-year fixed rate mortgage at 1.19%

Openwork exceeds 3,500 advisers
Posted on Tuesday August 29, 2017

Openwork Group has announced that its headcount for advisers now stands at 3,521, an increase of 17% on the 3,008 recorded this time last year

Tenet hires new group finance director
Posted on Friday August 25, 2017

Adviser support group Tenet has appointed Keely Craig (pictured above) as its new group finance director

Masthaven completes its largest second charge mortgage
Posted on Friday August 25, 2017

Masthaven has completed its largest ever second charge mortgage loan

How ‘hard mark’ credit checks are quietly costing customers
Posted on Friday August 25, 2017

It is not unreasonable for consumers to assume that they should be able to assess their eligibility for a loan without damaging their future prospects

Is it too easy to ignore secured loans?
Posted on Friday August 25, 2017

Tim Wheeldon, COO at Fluent Money (pictured above), claims it is too easy to disregard secured loans when assessing the optimum way for clients to access funds for capital raising

Low equity release rates drive switching enquiries
Posted on Friday August 25, 2017

Almost half of advisers (45%) have reported a rise in inquiries about switching plans from existing equity release customers, according to new research by Bower Retirement

OSB reports second charge lending drop
Posted on Friday August 25, 2017

OneSavings Bank has revealed that during the first half of 2017 its second charge lending fell significantly compared with H1 2016

Morses Club secures £15m funding boost
Posted on Monday August 21, 2017

Morses Club PLC has increased its overall revolving loan facility by £15m

Evolution Money announces major recruitment drive
Posted on Friday August 18, 2017

Evolution Money – part of the Darwin Group – is expanding its Manchester-based operations with employee numbers set to exceed 200

New second charge mortgage business hits £94m in June
Posted on Friday August 18, 2017

The value of new second charge mortgage business increased by 33% in June – compared with the same period last year – to £94m, according to the Finance & Leasing Association (FLA)

Computershare named leading third-party mortgage administrator
Posted on Friday August 18, 2017

Computershare Loan Services has been named the UK’s leading third-party mortgage administrator by S&P Global Rating Services following a recent assessment

Persuasion not coercion is the key to wider acceptance for seconds
Posted on Friday August 18, 2017

Trying to coerce advisers into accepting second charge mortgages is counterproductive, two financial services specialists have claimed

Newbury Building Society launches new website
Posted on Friday August 18, 2017

Newbury Building Society’s new website has gone live as it looks to provide a more user-friendly and efficient online experience

Freedom Finance partners with Asda Money to offer personal loans
Posted on Wednesday August 16, 2017

Asda Money has teamed up with Freedom Finance to launch an unsecured personal loan offering

FP Show 2017 broadens visitor appeal
Posted on Tuesday August 15, 2017

Some of the alternative finance industry’s biggest names are set to exhibit at this year’s Finance Professional Show (FP Show)

Micro-lender names new chief product and marketing officer
Posted on Tuesday August 15, 2017

Oakam – the digital micro-lender for the UK’s unbanked and underbanked consumers – has appointed Julie Haugen (pictured above) as its new chief product and marketing officer

IFA network set to be acquired
Posted on Thursday August 10, 2017

Tavistock Investments PLC has announced that it has entered into an agreement for the sale of the whole of the issued share capital of Tavistock Financial Limited to Sanlam UK

10 things you may not know about second charge mortgages
Posted on Thursday August 10, 2017

It’s fair to say that second charge mortgages have had a chequered reputation in the past

Second charge mortgage repossessions down 10%
Posted on Thursday August 10, 2017

The number of second charge mortgage repossessions in Q2 2017 was 36, 10% lower than Q2 2016, according to the Finance & Leasing Association (FLA)

Mortgage arrears fall in second quarter
Posted on Thursday August 10, 2017

The number of mortgages in arrears of 2.5% or more of the outstanding balance declined to 88,200 in the second quarter of this year, according to research from UK Finance

FCA launches mortgage survey
Posted on Thursday August 10, 2017

The FCA has launched a survey to understand more about people with mortgages and how they manage them

FCA issues warning over payday loan firm
Posted on Thursday August 10, 2017

The FCA has issued a warning over a payday loan firm it believes is providing financial services or products in the UK without its authorisation

Spring Finance launches new products and reduces rates
Posted on Monday August 07, 2017

Spring Finance has introduced three- and five-year fixed rate products to its portfolio

Building society launches fee-free Help to Buy remortgages
Posted on Friday August 04, 2017

Teachers Building Society has introduced a fee-free Help to Buy remortgage product

Skipton International receives 130% increase in expat mortgage enquiries
Posted on Thursday August 03, 2017

Skipton International has received over £500m of expat mortgage enquiries for UK buy-to-let properties in the first seven months of the year

82% would accept reduced commissions on seconds if it improved the product
Posted on Thursday August 03, 2017

A new poll from London Money has found that 82% of finance professionals would accept reduced commissions on second charges if it revolutionised the product and criteria for the borrowers benefit

How to avoid summer slowdown on mortgage applications
Posted on Thursday August 03, 2017

Yorkshire Building Society (YBS) has outlined how to reduce delays to house sales caused by hold ups in property valuations during the summer holiday period

The Nottingham posts £544m of gross lending
Posted on Thursday August 03, 2017

The Nottingham Building Society has reported strong growth for the six-month period ending 30th June 2017

Service levels among some lenders dubbed ‘patchy’
Posted on Thursday August 03, 2017

The influx of new lenders into the specialist mortgage market is leading to “patchy” customer service levels, according to Finance Advice Group

1st Stop completes £120m of funding lines
Posted on Wednesday August 02, 2017

Specialist lender 1st Stop Group has announced the completion of £120m of funding facilities which will support its objective of becoming a leading consumer finance brand in the UK

Lloyds sets up redress scheme for mortgage arrears customers
Posted on Thursday July 27, 2017

Lloyds Banking Group has agreed to set up a redress scheme totalling around £283m for mortgage customers who incurred fees after falling behind with their mortgage repayments

Are video applications next for the second charge mortgage market?
Posted on Thursday July 27, 2017

Second charge mortgage professionals are relatively split over whether video applications could make their way into the market

Freedom reports increase in holiday loan applications
Posted on Thursday July 27, 2017

Freedom Finance has announced that it has seen a 20% increase in the number of holiday loan applications submitted in June, up 23% on the same period last year

FCA appoints Scottish head
Posted on Thursday July 27, 2017

The FCA has announced the appointment of Maggie Craig (pictured above) as the head of department, Scotland

Debt advice funding to be reviewed
Posted on Thursday July 27, 2017

The former president of the Institute of Chartered Accountants in England and Wales Peter Wyman will lead an independent review of the funding of debt advice across the UK

Distributor names new head of second charge mortgages
Posted on Thursday July 27, 2017

Brightstar has appointed a new head of second charge mortgages and unsecured finance

AOBP appoints Jordan McBriar to executive committee
Posted on Thursday July 27, 2017

The Association of Bridging Professionals (AOBP) has completed the line-up of its executive committee with the appointment of Jordan McBriar

Paragon Group reports £1.4bn of lending
Posted on Wednesday July 26, 2017

The Paragon Group of Companies has announced total lending and investment for the nine months to 30th June 2017 of £1.4bn

Building society to open seven new branches
Posted on Thursday July 20, 2017

The Nottingham Building Society has announced plans to take on seven Norwich & Peterborough Building Society branches due for closure across the Midlands, Cambridgeshire and Norfolk

Freedom Finance crowned best consumer credit broker
Posted on Thursday July 20, 2017

Freedom Finance has been named the UK’s best consumer credit broker following a vote to gauge user feedback

Lytham St Annes named debt consolidation hotspot
Posted on Thursday July 20, 2017

Lytham St Annes has been named the debt consolidation hotspot in the UK, according to analysis by a loan provider

Northern Irish pensioners withdraw over £7m of property wealth
Posted on Thursday July 20, 2017

Retired homeowners in Northern Ireland cashed in on more than £7m of property wealth in the first half of 2017, according to a new report

Fluent hires 34 new team members
Posted on Thursday July 20, 2017

Fluent Money Group has hired 34 new team members since January

Loan firm fined over nuisance texts
Posted on Tuesday July 18, 2017

Provident Personal Credit Ltd has been fined £80,000 for being responsible for sending nearly one million nuisance texts in six months

Registration now open for FP Show 2017
Posted on Monday July 17, 2017

Registration is now open for the Finance Professional Show (FP Show) 2017

Brook Financial Services Limited acquired for £2m
Posted on Thursday July 13, 2017

Belvoir Lettings has acquired the entire issued share capital of Brook Financial Services Limited for a total consideration of £2m

Optimum Credit securitisation ‘significant moment’ for seconds market
Posted on Thursday July 13, 2017

Optimum Credit’s recent successful securitisation demonstrates the growing importance and status of the second charge market, according to an industry expert

Majority government prospect led to remortgage surge
Posted on Thursday July 13, 2017

The increase in remortgaging in May was due to borrowers being stimulated by the prospect of a large Conservative majority in the snap-election, according to conveyancing service provider LMS

Keystone joins TMA’s Mortgage Club panel
Posted on Thursday July 13, 2017

Specialist lender Keystone Property Finance has joined TMA’s Mortgage Club panel

New second charge mortgage business grows in May
Posted on Thursday July 13, 2017

The value of new second charge mortgage business grew 26% in May compared with the same period last year, according to the Finance & Leasing Association (FLA)

Welsh government backs second charge mortgage lender
Posted on Wednesday July 12, 2017

Optimum Credit has received £140,000 from the Welsh government’s Growth and Prosperity Fund to create 23 new jobs

Consumer credit comparison site appoints new director
Posted on Tuesday July 11, 2017

MoneyGuru.com has appointed experienced channel director Deborah Vickers to lead its expansion following the consumer credit comparison site’s successful launch period

Equiniti Group acquires Nostrum
Posted on Thursday July 06, 2017

Fintech and regulatory services business Equiniti Group PLC has acquired loan management technology firm Nostrum Group Limited

Cardiff Money bids to increase broker network
Posted on Thursday July 06, 2017

Cardiff Money aims to become a recognised player within the second charge mortgage industry following its launch last month

FCA publishes proposals on consumer credit staff incentives
Posted on Thursday July 06, 2017

The FCA has revealed proposals on how consumer credit firms should manage risks related to how they pay and manage the performance of their staff

Skipton International launches guide for expat BTL investors
Posted on Thursday July 06, 2017

Offshore bank Skipton International has launched a guide to help expat buy-to-let investors with changes to mortgage relief

76% of British households rely on credit
Posted on Thursday July 06, 2017

More than three-quarters (76%) of British households rely on credit to make ends meet, according to a recent survey

Building society appoints new director
Posted on Wednesday July 05, 2017

Teachers Building Society has appointed Paul Winter (pictured above) to its board as a non-executive director

Optimum Credit raises £256m
Posted on Monday July 03, 2017

Optimum Credit has raised £256m through a securitisation transaction as it looks to increase its market share within the second charge mortgage industry

Santander to launch mortgage video service
Posted on Thursday June 29, 2017

Santander is to launch a mortgage video service in 63 branches across the UK following a successful pilot last year

Masthaven to enter first charge mortgage market
Posted on Thursday June 29, 2017

Masthaven has revealed its residential mortgage range ahead of its launch into the market tomorrow

Public sector workers turn to payday loans
Posted on Thursday June 29, 2017

Readies.co.uk has revealed that some public sector workers are turning to payday loan companies to make ends meet

63% of finance professionals against mainstream banks entering seconds market
Posted on Thursday June 29, 2017

A number of players in the second charge mortgage market have debated whether there is room for high street banks to enter the sector

London Money names new head of underwriting
Posted on Thursday June 29, 2017

London Money Loans has appointed Andy Marsh as its new head of underwriting

Nine specialist lenders team up with Mortgage Brain
Posted on Thursday June 29, 2017

Mortgage Brain has partnered with a number of specialist lenders to assist the distribution of their second charge products on its sourcing system MortgageBrain Classic

Not so ‘hard to place’
Posted on Thursday June 29, 2017

There’s no doubt that the Mortgage Market Review and the subsequent changes made to regulation were way overdue to constrain some of the risky lending practices and unaffordable borrowing

FCA issues warning over lender
Posted on Monday June 26, 2017

The FCA has issued a warning regarding a firm it believes has been providing financial services or products without authorisation

TMA to host regional roadshows
Posted on Thursday June 22, 2017

TMA Mortgage Club has just two dates left of its regional roadshows in June for its directly authorised advisers

TMP reports 47% enquiry increase
Posted on Thursday June 22, 2017

The Mortgage Partnership (TMP) has posted growing support from brokers who are finding it hard to place cases for clients in the specialist lending market

FLA launches guide to support vulnerable customers
Posted on Thursday June 22, 2017

The Finance & Leasing Association (FLA) and the UK Cards Association have launched a guide to help finance providers support vulnerable customers throughout the credit application process

Where are the opportunities in second charge lending?
Posted on Thursday June 22, 2017

When I sat down to put this blog together, I didn’t want to write yet another article about why customers should consider seconds (protecting their current rate, avoiding an early repayment charge, maintaining their interest-only first charge etc)

160-year-old building society posts new lending record
Posted on Tuesday June 20, 2017

Earl Shilton Building Society has seen new lending increase to a record high of nearly £26m over the past year

FCA chairman to step down
Posted on Monday June 19, 2017

HM Treasury is on the look-out for a new FCA chairman after it was announced that John Griffith-Jones (pictured above) would be standing down next year

Fluent buys first charge mortgage packager
Posted on Thursday June 15, 2017

Fluent Money Group has purchased Manchester-based broker and packager Brytannic Extra Finance

Two new mortgage tools to be tested in FCA sandbox
Posted on Thursday June 15, 2017

Experian and Money Dashboard will be testing new mortgage tools in the latest FCA regulatory sandbox

Equiniti Pancredit to launch new outsourced servicing solutions
Posted on Thursday June 15, 2017

Equiniti Pancredit is set to welcome a number of new clients during the remainder of the year as it prepares to launch new tailored, outsourced servicing solutions

New second charge mortgage lending up 53%
Posted on Thursday June 15, 2017

The Finance & Leasing Association (FLA) has reported a 53% increase in the value of new second charge mortgage business during April, compared with the same period last year

Crystal partners with The Mortgage Lender
Posted on Thursday June 15, 2017

Crystal Specialist Finance has joined The Mortgage Lender’s network of distribution partners

Credit union goes out of business
Posted on Wednesday June 14, 2017

Plough & Share Credit Union Limited has stopped trading after it was revealed it was in default and could not repay deposits to its 2,550 members

Gary Bailey to leave Together after 20 years
Posted on Monday June 12, 2017

Gary Bailey has confirmed to B&C that he is officially leaving Together on Wednesday after 20 years of service.

Lending group secures £100m funding
Posted on Thursday June 08, 2017

Manchester-based Darwin Group has announced plans to expand its range of lending products after securing £100m in funding

Vida Homeloans launches lower BTL rates
Posted on Thursday June 08, 2017

Vida Homeloans has announced the launch of its lowest-ever rates for residential and buy-to-let (BTL) mortgages

Freedom Finance offers cash draw
Posted on Thursday June 08, 2017

Loan broker platform Freedom Finance has launched a new cash draw offering six people the chance to win £2,000

New Street announces rate cuts to fixed mortgages
Posted on Thursday June 08, 2017

New Street Mortgages has announced rate cuts of up to 0.65% across its range of three- and five-year fixed rate mortgages

Specialist distributor names new head of sales
Posted on Wednesday June 07, 2017

Clever Lending has promoted Ivan Vizor (pictured above) to head of sales as it looks to improve its work with the intermediary market

Optimum Credit names new BDM
Posted on Monday June 05, 2017

Optimum Credit has exclusively revealed to Loan Talk that Jon Callow has joined its sales team as a business development manager

Optimum Credit appoints new BDM
Posted on Monday June 05, 2017

Optimum Credit has exclusively revealed to Loan Talk that Jon Callow has joined its sales team as a business development manager

Landlord yields forecast to drop over next 10 years
Posted on Thursday June 01, 2017

Landlords could see their yields plummet over the next decade, according to new research

Adviser Alliance enters the market
Posted on Tuesday May 30, 2017

A new network of advisers aiming to revolutionise the way brokers are paid has launched to market

Household debt set to reach record high
Posted on Tuesday May 30, 2017

The amount of unsecured debt per household is set to pass the pre-crisis peak this year, according to the Trades Union Congress (TUC)

Are the over-50s keen on borrowing?
Posted on Tuesday May 30, 2017

One-in-four over-50s insist they would never borrow money, according to new research

Remortgaging up 8%
Posted on Tuesday May 30, 2017

Remortgaging accounted for 33% of total mortgage lending in April, according to LMS

Digital mortgage broker launches calculator tool
Posted on Tuesday May 30, 2017

Online mortgage broker Dwell has launched a universal mortgage calculator to uncover the maximum loan sizes lenders are willing to provide

Six lenders cancel their HCSTC permission
Posted on Tuesday May 30, 2017

Six lenders have cancelled their high-cost short-term credit (HCSTC) permission between 1st January 2016 and 30th April 2017

Key Retirement named in UK’s most inspiring companies report
Posted on Friday May 26, 2017

Over-55s financial specialist Key Retirement Group has been included in the London Stock Exchange Group’s 1,000 Companies to Inspire Britain 2017 report

Step One cuts rates and bolsters team
Posted on Thursday May 25, 2017

Second charge lender Step One Finance has announced a wave of rate reductions amid a period of wider expansion

West One to enter second charge mortgage market in Q3
Posted on Wednesday May 24, 2017

West One Loans has announced that it will soon be launching a range of second charge mortgage lending products as it looks to broaden its specialist finance options

Paragon doubles lending after surge in demand for complex loans
Posted on Tuesday May 23, 2017

Paragon Mortgages has doubled its lending in the first three months of 2017

Legal firm launches broker engagement programme
Posted on Tuesday May 23, 2017

Breezeplus+ Legal Solutions has launched a broker engagement programme to help deal with the sizeable increase in the number of remortgage cases in its pipeline

Experian faces credit monitoring decline
Posted on Tuesday May 23, 2017

Experian has revealed its UK and Ireland credit monitoring business is expected to continue to decline in the year ahead

Staying agile the key to longevity for challenger banks
Posted on Tuesday May 23, 2017

The term ‘challenger banks’ is fast becoming a misnomer, such is the level of diversity displayed by today’s diverse range of financial services providers

Regulation and innovation drive second charge BTL surge
Posted on Tuesday May 23, 2017

A growing number of clients are using second charge buy-to-let mortgages as new restrictions for landlord loans start to bite

Building society launches new broker website
Posted on Tuesday May 23, 2017

Tipton and Coseley Building Society has announced the launch of a new website for intermediaries

TFC completes merger deal with specialist distributor
Posted on Monday May 22, 2017

Packager TFC Homeloans (TFC) has completed a merger deal with specialist distributor Solent Mortgage Services (SMS)

Mortgage Trust launches limited edition fixed BTL
Posted on Friday May 19, 2017

Mortgage Trust has introduced a new limited edition, five-year fixed rate buy-to-let mortgage

Building society names new chief executive
Posted on Thursday May 18, 2017

Furness Building Society has appointed Chris Harrison (pictured above) as its new permanent chief executive

Banking group reports 5% mortgage growth
Posted on Tuesday May 16, 2017

Clydesdale and Yorkshire Bank owner CYBG PLC has reported 5% annualised mortgage growth for the first half of 2017

Boris Johnson visits Target Group’s HQ
Posted on Tuesday May 16, 2017

Boris Johnson has visited the Newport offices of business process outsourcing and operational transformation provider Target Group

Fluent’s ID system stops fraudulent borrower
Posted on Tuesday May 16, 2017

Fluent Money has successfully blocked an attempt by a fraudster to obtain a loan

Mortgage Brain offers whole-of-market first and second charge sourcing
Posted on Tuesday May 16, 2017

Software provider Mortgage Brain has added a fully integrated second charge mortgage sourcing capability into its first charge sourcing system

Second charge mortgage repossessions fall as new business rises
Posted on Tuesday May 16, 2017

New second charge mortgage business grew 8% by value and 15% by volume in March compared with the same period last year, according to the Finance & Leasing Association (FLA)

TFC introduces broker reward scheme
Posted on Monday May 15, 2017

TFC Homeloans plans to reward broker loyalty through the launch of a new reward scheme

Building society launches contractor mortgages
Posted on Friday May 12, 2017

The Tipton and Coseley Building Society has introduced a range of contractor mortgages for borrowers employed on short-term renewable contracts

TFC expands team with three new recruits
Posted on Friday May 12, 2017

Packager TFC Homeloans has added three new recruits to its new business and processing teams at its head office in Manchester

Pepper launches limited edition five-year fixed rate BTL
Posted on Thursday May 11, 2017

Specialist lender Pepper Homeloans has launched a limited edition buy-to-let product at an interest rate of 2.98%

£109bn injected into the residential property market
Posted on Wednesday May 10, 2017

The use of cash in property purchases is threatening to exacerbate housing inequality in the UK, according to analysis by the Intermediary Mortgage Lenders Association (IMLA)

Lender set to open first of 12 new branches
Posted on Tuesday May 09, 2017

Unsecured lender Everyday Loans has announced plans to open the first of 12 new branches in the next few weeks

50% of professionals say education is most important for seconds growth
Posted on Tuesday May 09, 2017

More education is seen as the most important factor in order for the second charge mortgage market to grow

The Mortgage Partnership rebrands for 20th anniversary
Posted on Tuesday May 09, 2017

The Mortgage Partnership has rebranded and launched a new website, which features access to new services

Network posts 35% surge in completions
Posted on Tuesday May 09, 2017

Mortgage network Stonebridge Group has reported a 35% year-on-year rise in completions during the first quarter of 2017

TSB cuts rates on selected BTL products
Posted on Tuesday May 09, 2017

TSB has reduced interest rates on selected buy-to-let products by up to 0.25%

Three second charge industry heavyweights launch broker portal
Posted on Tuesday May 09, 2017

Three second charge mortgage industry heavyweights have come together to launch a new broker portal aimed at reducing processing times

Equifinance funds £50,000 ‘no consent’ second charge
Posted on Tuesday May 09, 2017

Equifinance and Clever Lending have teamed up to deliver a £50,000 loan to fund a customer’s home improvements, despite it being a non-standard case

Vida increases LTV for BTL portfolios
Posted on Monday May 08, 2017

Vida Homeloans has announced a number of changes to its specialist buy-to-let range, which includes an increase in the maximum LTV for portfolios

Kent Reliance to open new branch
Posted on Monday May 08, 2017

Specialist lender Kent Reliance has announced that it is to open a new branch agency in Chichester

HSBC lowers mortgage rates
Posted on Friday May 05, 2017

HSBC has announced that it is lowering interest rates on its fixed rate mortgages by up to 0.25%

Lender secures FCA authorisation
Posted on Friday May 05, 2017

Home-collected credit lender Morses Club has received full authorisation from the FCA

Paragon refreshes fixed rate BTL products
Posted on Thursday May 04, 2017

Paragon Mortgages has introduced a series of changes to its fixed rate buy-to-let products as it looks to help landlords cope with the new tax changes

Optimum Credit completes its largest loan
Posted on Wednesday May 03, 2017

Pink Pig Loans (PPL) has completed a £900,000 second charge loan for Optimum Credit – the lender’s largest loan payout since its launch in 2014

Shawbrook added to SimplyBiz Mortgages’ second charge panel
Posted on Wednesday May 03, 2017

Shawbrook Bank has joined SimplyBiz Mortgages’ second charge panel

Lender offers free legals for remortgages
Posted on Tuesday May 02, 2017

Vida Homeloans has improved its range of fee saver products by adding free legals for residential remortgages

Record amount of wealth tied up in people’s homes
Posted on Tuesday May 02, 2017

The Equity Release Council (ERC) has published a new white paper calling for a series of reforms to raise awareness of the record amount of wealth tied up in people’s homes

New network of advisers to revolutionise broker payments
Posted on Tuesday May 02, 2017

London Money director Martin Stewart (pictured above) has announced plans to change the way brokers are paid with the launch of a new alliance for mortgage advisers

Shawbrook saves customer £7,000 a month with second charge
Posted on Tuesday May 02, 2017

Shawbrook Bank has helped a customer to save over £7,000 per month with a second charge mortgage

Two-thirds of BTL lenders block housing benefit tenants
Posted on Tuesday May 02, 2017

Some 66% of lenders representing approximately 90% of the buy-to-let market do not allow properties to be rented out to those claiming housing benefit, according to new research

High-risk mortgages climb 23%
Posted on Tuesday May 02, 2017

Scotland has evaded a major surge in high-risk lending, according to the latest research

Gross mortgage lending predicted to hit £260bn in 2017
Posted on Friday April 28, 2017

Gross mortgage lending is expected to reach £260bn this year, its highest level since 2007, according to a new report

CSC appoints new marketing manager
Posted on Friday April 28, 2017

CSC Loans has appointed Susan Roberts as its new marketing manager to support its activity within the second charge market

RLA calls for new housing court
Posted on Friday April 28, 2017

Landlords are calling on the next government to launch a new housing court to speed up legal decisions in the BTL sector

Accord slashes rates on remortgage products
Posted on Thursday April 27, 2017

Accord Buy to Let has made 0.2% reductions on selected remortgage products

Magellan cuts fixed rates on complex prime mortgages
Posted on Wednesday April 26, 2017

Specialist lender Magellan Homeloans has cut its two-year fixed rate across its range of complex prime mortgage products

Credit union ceases trading
Posted on Tuesday April 25, 2017

The Financial Services Compensation Scheme (FSCS) has stepped in to protect 1,200 members of Yoker Credit Union Limited, which has stopped trading

FCA names new members on decisions committee
Posted on Tuesday April 25, 2017

The board of the FCA has added two new members to its Regulatory Decisions Committee (RDC)

YBS launches 0.89% mortgage product
Posted on Tuesday April 25, 2017

Yorkshire Building Society (YBS) has launched a mortgage with what it claims to be the lowest interest rate ever in the UK of just 0.89%

Hitachi reports 13% rise in personal loans
Posted on Tuesday April 25, 2017

Hitachi Capital Consumer Finance has reported a surge in consumer credit for the financial year 2016/17, defying fears that uncertainty would have curbed spending

Equifax presents pre-mover marketing tool
Posted on Tuesday April 25, 2017

Consumer insight specialist Equifax has partnered with a marketing business to help companies identify potential customers at key stages in the home-moving lifecycle

Paragon launches proc fees for switch products
Posted on Tuesday April 25, 2017

Paragon Mortgages has announced it will be introducing procuration fees for brokers across its full range of switch products

Mortgage Trust introduces its lowest-ever fixed rates
Posted on Tuesday April 25, 2017

Buy-to-let (BTL) lender Mortgage Trust has launched three new limited edition products at its lowest ever rates

Equity Release Council posts record growth
Posted on Monday April 24, 2017

Equity release lending broke new records in the first quarter of 2017, according to figures from the Equity Release Council

Clever Lending appoints ex-Enterprise BDM
Posted on Monday April 24, 2017

Clever Lending has appointed a former Enterprise Finance business development manager as its new sales manager

Precise introduces five-year fixed BTL at 2.99%
Posted on Monday April 24, 2017

Precise Mortgages has announced a new buy-to-let product with interest rates starting at 2.99%

TFC adds Equifinance to second charge lender panel
Posted on Friday April 21, 2017

Packager TFC Homeloans has added Equifinance to its second charge lender panel

Key Retirement Group sold
Posted on Thursday April 20, 2017

Retirement finance specialist Key Retirement Group (KRG) is to be acquired by investment manager Partners Group

Foundation Home Loans enters residential market
Posted on Thursday April 20, 2017

Buy-to-let lender Foundation Home Loans has announced its entry into the residential lending market with a suite of new products

Underhand tactics could be costing personal loan consumers £400m
Posted on Wednesday April 19, 2017

Underhand tactics within the personal loans industry are costing customers as much as £400m every year, according to TSB

Lender placed in administration
Posted on Tuesday April 18, 2017

A payday lender has revealed it has appointed administrators

Complete FS breaks nine-year new business record
Posted on Tuesday April 18, 2017

Packager and distributor Complete FS has reported its best month for new business since 2008

FCA to prioritise vulnerable consumers
Posted on Tuesday April 18, 2017

The FCA has announced plans to prioritise the issue of vulnerable consumers in the year ahead

Loan.co.uk launches responsible borrowing guidelines
Posted on Tuesday April 18, 2017

Master broker Loan.co.uk has introduced a new code of responsible borrowing

81% of landlords confident about 2017 performance
Posted on Tuesday April 18, 2017

Some 81% of landlords feel confident that their property portfolios will perform well over the course of 2017, according to the Shawbrook Client Barometer

Lender appoints RateSetter co-founder to board
Posted on Tuesday April 18, 2017

Guarantor lender George Banco has appointed the co-founder of peer-to-peer platform RateSetter as a non-executive director

Magellan Homeloans partners with Connect
Posted on Thursday April 13, 2017

Magellan Homeloans has announced that it will offer its range of mortgage products through specialist network Connect for Intermediaries

Building society names new finance director
Posted on Thursday April 13, 2017

Nottingham Building Society has revealed that Dan Mundy will be appointed as its new finance director, subject to final regulatory approval

NatWest Intermediary Solutions launches in Northern Ireland
Posted on Wednesday April 12, 2017

NatWest has expanded its intermediary mortgage proposition into Northern Ireland

Bank expands into the mortgage market
Posted on Tuesday April 11, 2017

Sainsbury’s Bank has revealed its new range of mortgage products to mark the start of its expansion into the market

Tenet teams up with Age Partnership
Posted on Tuesday April 11, 2017

Adviser network Tenet has signed a contract with equity release specialist Age Partnership

Lending group secures £75m funding facility
Posted on Tuesday April 11, 2017

The Darwin Group has secured a new funding facility in excess of £75m to support its objective of becoming a leading consumer finance brand

£110,000 second charge mortgage settles client’s tax liabilities
Posted on Tuesday April 11, 2017

Clever Lending has helped a customer to settle looming tax liabilities from HMRC by arranging a £110,000 second charge mortgage

Oakam launches mobile rewards service
Posted on Tuesday April 11, 2017

Personal loans provider Oakam has launched a new in-app rewards feature to encourage the development of positive credit habits

New second charge lending up 10%
Posted on Tuesday April 11, 2017

New second charge mortgage lending rose 10% in February, according to recent figures

Equity release predicted to help fill BTL vacuum
Posted on Tuesday April 11, 2017

The estimated £5bn shortfall created by the reduction in volume within the buy-to-let market could be partially filled by equity release, according to industry experts

Shawbrook partners with packager for over 55s mortgage offering
Posted on Monday April 10, 2017

Shawbrook Bank has announced a semi-exclusive deal with a packager following the launch of its new over-55 interest-only mortgage product

Building society announces £220m mortgage portfolio sale
Posted on Monday April 10, 2017

Skipton Building Society has announced the sale of a mortgage portfolio worth approximately £220m

Secure Trust Bank partners with Brightstar
Posted on Friday April 07, 2017

Secure Trust Bank has entered into a partnership agreement with Brightstar after launching into the residential mortgage market exclusively through Mortgage Advice Bureau

Masthaven launches new second charge product
Posted on Friday April 07, 2017

Masthaven has boosted its second charge offering with the introduction of a new prime lending product

42% of intermediaries rate lender portals as average to very poor
Posted on Thursday April 06, 2017

More than two-fifths (42%) of intermediaries ranked lender portal usability as average to very poor, according to the IRESS Intermediary Mortgage Survey 2017

Building society expands intermediary lending team
Posted on Thursday April 06, 2017

Leeds Building Society has appointed a new business development manager as it continues to grow its market share of lending through intermediaries

42% of brokers rate lender portals as average to very poor
Posted on Thursday April 06, 2017

More than two-fifths (42%) of intermediaries ranked lender portal usability as average to very poor, according to the IRESS Intermediary Mortgage Survey 2017

Mortgage accessibility reaches three-year high
Posted on Tuesday April 04, 2017

Almost a third (30%) of mortgage brokers had no problems sourcing a mortgage for any client type in the second half of 2016, according to a new survey

Building society director steps down
Posted on Tuesday April 04, 2017

Manchester Building Society has announced the departure of its interim finance director

London Money: One year on
Posted on Tuesday April 04, 2017

This month sees the first anniversary of us launching London Money Loans on to an unsuspecting broker community

Three million people frozen out of credit
Posted on Tuesday April 04, 2017

Almost one in five people who have applied for credit in the last 12 months have had their application refused, according to new research

Are risk leaders struggling to identify vulnerable customers?
Posted on Tuesday April 04, 2017

Only 67% of risk leaders are carrying out affordability assessments, new research has claimed

SimplyBiz: Credit where it’s due
Posted on Tuesday April 04, 2017

Since joining the proud ranks of those regulated by the FCA, you’re likely to have picked up a number of previously unknown phrases and terms; ‘GABRIEL reporting’, for example, or ‘varying your permissions’

Manchester Building Society director steps down
Posted on Tuesday April 04, 2017

Manchester Building Society has announced the departure of its interim finance director

FCA targets unauthorised payday comparison site
Posted on Tuesday April 04, 2017

The FCA has issued a warning regarding a firm it believes has been providing financial services or products in the UK without its authorisation

FCA proposes tougher rules for credit card firms
Posted on Monday April 03, 2017

The FCA has proposed new rules to help customers who are in persistent credit card debt, following a study focused on the market

Tougher rules for credit cards proposed
Posted on Monday April 03, 2017

The FCA has proposed new rules to help customers who are in persistent credit card debt, following a study focused on the market

UTB: MCD has been a positive move for consumers and the industry
Posted on Friday March 31, 2017

The estimated “high” cost of the Mortgage Credit Directive (MCD) on the second charge mortgage market has come as no surprise to United Trust Bank

Challenger bank slashes rates on portfolio BTL range
Posted on Friday March 31, 2017

Metro Bank has revealed a host of changes to its portfolio buy-to-let (PBTL) range as it looks to support the growing number of professional landlords

John Charcol appoints new director
Posted on Thursday March 30, 2017

John Charcol has announced the appointment of its new director of partnerships

Lender launches new online brand
Posted on Thursday March 30, 2017

Home collected credit lender Morses Club has announced the launch of its first online instalment loans product

FCA reveals potential impact of MCD on second charge mortgage market
Posted on Wednesday March 29, 2017

The FCA has revealed its assessment of the Mortgage Credit Directive (MCD) and its impact on the second charge lending market

Precise launches exclusive second charge BTL range
Posted on Tuesday March 28, 2017

Precise Mortgages has launched an exclusive range of buy-to-let second charge loans with zero product fee amid a surge of enquiries

55% of professionals predict second charge market to surpass £1bn mark in 2017
Posted on Tuesday March 28, 2017

A recent poll conducted by Loan Talk found that 55% of financial professionals expected the second charge mortgage market to exceed the £1bn mark in 2017, while 45% felt it would remain below that figure

Lords Committee urges FCA to act on ‘unacceptable’ financial exclusion
Posted on Tuesday March 28, 2017

More needs to be done to tackle a “vicious circle” of debt and overcharging, according to the House of Lords Financial Exclusion Committee

Maeve Ward: Digging deeper
Posted on Tuesday March 28, 2017

Since January 2017, I have attended and hosted over 20 events around the country, all with the purpose of educating advisers on specialist lending products, especially second charge mortgages

Bank of England issues consumer credit warning
Posted on Tuesday March 28, 2017

A surge in consumer credit could pose a risk to lenders if accompanied by weaker underwriting standards, the Bank of England has warned

Limited growth for seconds market during 2016
Posted on Tuesday March 28, 2017

The second charge mortgage market grew just 4% year-on-year in December, according to Enterprise Finance’s second charge report

Building society snaps up ex-Tesco Bank broker head
Posted on Monday March 27, 2017

Furness Building Society has snapped up a former Tesco Bank head to help manage its product proposition

TFC Homeloans partners with Axis Bank
Posted on Monday March 27, 2017

Specialist distributor TFC Homeloans has announced a partnership with buy-to-let (BTL) lender Axis Bank UK

New Street Mortgages cuts BTL rates by up to 0.7%
Posted on Friday March 24, 2017

New Street Mortgages has slashed rates on its range of buy-to-let (BTL) mortgages amid a comprehensive product overhaul

RBS to close 30 branches
Posted on Friday March 24, 2017

RBS has announced plans to close 30 branches, on top of 128 NatWest branches after witnessing a dramatic shift in the number of customers embracing digital banking

Barclaycard CEO to retire
Posted on Thursday March 23, 2017

Barclays has revealed that the CEO of Barclaycard International is to retire to pursue his ambition of promoting civil liberties

Industry reacts to 8% mortgage lending drop
Posted on Thursday March 23, 2017

The Council of Mortgage Lenders (CML) has revealed that gross mortgage lending fell by 8% during February

Trade bodies launch guide to support vulnerable customers
Posted on Wednesday March 22, 2017

The Finance & Leasing Association (FLA) and the UK Cards Association have launched a publication entitled ‘Vulnerability: A guide for debt collection’ to help identify and support customers in precarious circumstances

Lending group extends bank facility to £105m
Posted on Tuesday March 21, 2017

Non-Standard Finance PLC has secured a £20m extension to its existing £85m facility with RBS, Shawbrook Bank and Secure Trust Bank

Exclusive: Loan.co.uk provides £25,000 ‘Mum’s Mortgage’
Posted on Tuesday March 21, 2017

Master broker Loan.co.uk has completed a £25,000 second charge mortgage for a mother hoping to pay her son’s deposit and moving costs when buying his first home

Shawbrook solves borrower’s credit issue with second charge loan
Posted on Tuesday March 21, 2017

Shawbrook’s residential mortgage team has provided a £30,000 second charge mortgage to consolidate a borrower’s credit

Y3S opens northern office
Posted on Tuesday March 21, 2017

Welsh second charge broker Y3S has announced the opening of a new office in Stockport, Greater Manchester

Principality to introduce retention procuration fees
Posted on Tuesday March 21, 2017

Principality Building Society plans to introduce retention procuration fees later this year

FCA names new director
Posted on Tuesday March 21, 2017

The FCA has announced that Nick Stace (pictured above) will join its board as a non-executive director

Step One appoints northern BDM amid broker portal launch
Posted on Monday March 20, 2017

Step One Finance has appointed a new business development manager for the North of England and Scotland and officially launched its online broker portal

90% LTV second charge product launches at 9%
Posted on Monday March 20, 2017

Second charge lender 1st Stop Group has launched a new 90% LTV second charge mortgage product exclusively through specialist broker Fluent for Advisers

SimplyBiz adds Keystone to lender panel
Posted on Friday March 17, 2017

SimplyBiz Mortgages has announced that buy-to-let (BTL) lender Keystone Property Finance has joined its lender panel

Equiniti International Payments expands team
Posted on Thursday March 16, 2017

Equiniti International Payments has appointed six new members of staff

Debt management firm secures FCA authorisation
Posted on Thursday March 16, 2017

Debt management company Harrington Brooks has been granted full authorisation by the FCA

New Accord remortgage products remove upfront costs
Posted on Wednesday March 15, 2017

Accord Mortgages has launched two new fixed rate mortgages with no upfront fees and added features to help borrowers manage the upfront cost of remortgaging

Accord removes up-front costs from new remortgage products
Posted on Wednesday March 15, 2017

Accord Mortgages has launched two new fixed rate mortgages with no upfront fees

Shawbrook launches over 55s interest-only mortgage
Posted on Wednesday March 15, 2017

Shawbrook Bank has launched a ‘55 Plus Interest-Only Mortgage’ aimed at those aged 55 or over who are nearing the end of their existing interest-only arrangement, but have an outstanding balance

BTL enquiries rise 47%
Posted on Tuesday March 14, 2017

Average buy-to-let enquiries per intermediary increased by 47% in Q4 2016, according to the Intermediary Mortgage Lenders Association (IMLA) mortgage market tracker

Credit union hit with major fine
Posted on Tuesday March 14, 2017

A Dublin-based credit union has been fined by the Central Bank of Ireland (pictured above) after an investigation identified seven breaches

How will the spring Budget impact BTL finance?
Posted on Tuesday March 14, 2017

In what could be seen as the latest in a string of blows against landlords, last week’s spring Budget featured a raft of measures designed to increase the tax payments made by self-employed workers

Responsible lending - the broker balancing act
Posted on Tuesday March 14, 2017

The general public can be incredibly suspicious, especially when it comes to the sales environment in financial services, says Sarah Jackson, director of Equiniti Pancredit

SimplyBiz: Doris and Ewan? You ain’t seen nothing yet
Posted on Tuesday March 14, 2017

As Doris and Ewan rampaged across the UK, there were numerous warnings and tips on how to protect your roofs, wheelie bins and gazebos

Major bank names new group chairman
Posted on Monday March 13, 2017

HSBC has announced the upcoming appointment of a new director and group chairman

Vida launches new loan calculator
Posted on Monday March 13, 2017

Vida Homeloans has announced the launch of a new online residential max loan calculator

47% of advisers think some clients are overcharged
Posted on Friday March 10, 2017

Almost half of advisers think that some clients are being overcharged, a new survey has revealed

Second charge lending dips 6%
Posted on Friday March 10, 2017

New business in the second charge mortgage market fell by 6% in value to £869m for the last 12 months to January 2017, according to the latest data

Tesco Bank adds Mortgage Intelligence to broker panel
Posted on Thursday March 09, 2017

Customers can now access Tesco Bank’s range of mortgages through the Mortgage Intelligence Network

Central Trust launches direct offering
Posted on Wednesday March 08, 2017

Central Trust has launched a direct to lender, secured loan proposition

Complete FS names new associate director
Posted on Wednesday March 08, 2017

Complete FS has appointed a new associate director of operations

Credit broker cloned twice
Posted on Tuesday March 07, 2017

The FCA has issued warnings over an authorised credit broker that is believed to have been cloned twice

34% favour home improvements over moving
Posted on Tuesday March 07, 2017

More than one in three (34%) homeowners who are ready to take the next step on the property ladder are considering home improvements instead of moving, according to research by Lloyds Bank

Building society posts 36% mortgage lending surge
Posted on Tuesday March 07, 2017

Darlington Building Society has reported a 36% increase in gross mortgage lending during 2016 as it approached the £100m mark

Three things you didn’t know you could use a second charge mortgage for
Posted on Tuesday March 07, 2017

These smart seconds solutions are well worth having in your toolbox, says Ian Scarrott, head of sales at TFC Homeloans

Could PRA changes promote broker engagement with seconds market?
Posted on Tuesday March 07, 2017

I believe a ‘knowledge vacuum’ could develop in the buy-to-let (BTL) world regarding second charge lending, and we need to work together to ensure healthy market growth

London Money: Industry needs to adopt a new approach
Posted on Tuesday March 07, 2017

When I talked about revolution in my last article for Loan Talk, I was thinking more of an administrative one, as opposed to anything resembling that of Russia in 1917

Shawbrook completes £150,000 second charge to clear credit card debt
Posted on Monday March 06, 2017

Shawbrook Bank has provided a second charge mortgage for high-net-worth joint applicants looking to pay off their unsecured credit card debt

Fixed rate mortgages account for 83% of market
Posted on Monday March 06, 2017

Fixed rate mortgages accounted for 83% of all cases in the last quarter of 2016, according to Paragon Mortgages’ latest Financial Advisors Confidence Tracking Index report

74% of first-time-buyers paid stamp duty in 2016
Posted on Friday March 03, 2017

Yorkshire Building Society has slammed the current stamp duty policy after it was revealed that 74% of first-time-buyers paid the tax last year

Shawbrook completes its largest ever second charge mortgage
Posted on Thursday March 02, 2017

Shawbrook Bank has teamed up with the Loan Partnership to complete its largest ever second charge mortgage

Kensington completes £443m securitisation
Posted on Wednesday March 01, 2017

Kensington Mortgages has finished its fifth securitisation backed by new originations totalling £443m

Together breaks 10-year record
Posted on Wednesday March 01, 2017

Together has provided its largest first charge personal mortgage in a decade to allow a customer to secure a dream home

Masthaven reveals new MD of mortgages
Posted on Tuesday February 28, 2017

The former managing director of Bluestone Mortgages is set to become the new mortgage managing director at Masthaven

Payday lending complaints rise 22%
Posted on Tuesday February 28, 2017

Complaints over payday lending rose by more than one-fifth during the second half of 2016, new figures have revealed

Challenger bank reports 20% surge in mortgage lending
Posted on Tuesday February 28, 2017

Virgin Money Holdings (UK) plc has recorded a 20% increase in net mortgage lending during 2016, which it claims has given it a market share of 11%

UTB completes second charge mortgage in 72 hours
Posted on Tuesday February 28, 2017

United Trust Bank (UTB) has completed a £59,500 second charge mortgage for a married couple looking to reduce their monthly outgoings and substantially increase their disposable income

Second charge broker relocates ahead of recruitment drive
Posted on Tuesday February 28, 2017

Second charge brokers London Money Loans and Access 4 Finance have expanded into new premises ahead of a recruitment drive

Together launches new BTL products for expats
Posted on Tuesday February 28, 2017

Together has launched new products aimed at expats after overhauling its buy-to-let mortgage range

Are prospective buyers checking their credit scores?
Posted on Tuesday February 28, 2017

Many potential buyers are in the dark over their poor credit scores until they struggle to secure a mortgage, new research suggests

Paragon sales team to take on Three Peaks Challenge for charity
Posted on Monday February 27, 2017

Eight regional sales managers (RSM) from Paragon Mortgages will participate in the Yorkshire Three Peaks Challenge next month in aid of Prostate Cancer UK

Mortgage lender names new MD
Posted on Monday February 27, 2017

A former director of Barclays Bank has been named as the managing director of Bluestone Mortgages

Lender cuts BTL rates by up to 0.5%
Posted on Friday February 24, 2017

Specialist lender Pepper Homeloans has slashed rates by up to 0.5% across some of its existing five-year fixed buy-to-let (BTL) mortgages

Ex-BlackRock MD joins building society as chief executive
Posted on Thursday February 23, 2017

Teachers Building Society has named Simon Beresford as its new chief executive

Accord extends procuration fees pilot
Posted on Thursday February 23, 2017

Accord Mortgages has announced it is extending its pilot to pay brokers a procuration fee for retained business on residential mortgages

Vida Homeloans joins Paradigm lender panel
Posted on Wednesday February 22, 2017

Paradigm Mortgages has added buy-to-let specialist Vida Homeloans to its lender panel

Bridging lender expands product range with new NatWest funding line
Posted on Tuesday February 21, 2017

The London-based bridging and development finance lender hopes the new funding line will also support its ambitious growth targets, including expanding its product range. Founded by experienced pro...

HFBS saves 80-year-old’s chip shop property purchase
Posted on Tuesday February 21, 2017

An 80-year-old investor needed funds in order to complete the purchase of a chip shop after the sale of his buy-to-let (BTL) property fell through at the last minute. HFBS provided the £100,0...

Housing white paper: A quick fix?
Posted on Tuesday February 21, 2017

While its aims are commendable, it carries a number of transactional risks which should be considered by everyone operating in the property sector. Described by The Telegraph as its “boldest ...

Sharia-compliant bank posts 228% surge in home finance completions
Posted on Tuesday February 21, 2017

The bank reported a 227.6% rise in home purchase plan (HPP) and buy-to-let purchase plan (BTLPP) completions last month compared with January 2016. This growth was accompanied by a 13.2% rise in th...

Seconds repossessions expected to remain low despite Q4 rise
Posted on Tuesday February 21, 2017

Second charge mortgage repossessions are expected to fall during 2017 despite climbing by 18% during the last quarter of 2016

Are new underwriting standards driving landlords to five-year fixed rates?
Posted on Tuesday February 21, 2017

Stricter affordability checks may be driving landlords towards five-year fixed rate buy-to-let (BTL) mortgages when remortgaging, a broker has claimed

A guide to BTL in light of recent taxation changes
Posted on Tuesday February 21, 2017

The recent, planned tax and stamp duty changes for buy-to-let properties are set to make life more challenging for landlords

Building society breaks 167-year lending record
Posted on Tuesday February 21, 2017

Cambridge Building Society hit £265m in new mortgage lending during 2016, the highest level in the lender’s 167-year history

Active conveyancing firms rise for the first time in five years
Posted on Tuesday February 21, 2017

Search Acumen’s Conveyancing Market Tracker revealed that during 2016, the number of conveyancing firms rose by 4% to 5,572. Over the past five years, the number of conveyancing firms has dec...

Assetz Capital appoints ex-Santander director for NI expansion
Posted on Tuesday February 21, 2017

Andrew Fraser has joined from Santander UK Corporate and Commercial having spent more than three years there as the business development director for the Northern Ireland region. In his new role, A...

Norton Finance receives customer service award
Posted on Tuesday February 21, 2017

Norton Finance has been awarded a Feefo Gold Trusted Service Award after collecting strong ratings and reviews from customers

94% of landlords report stable tenant demand
Posted on Tuesday February 21, 2017

Tenant demand for private rented accommodation is continuing to grow, a new report has revealed

Masthaven reaches almost £165m in savings deposits
Posted on Monday February 20, 2017

Speaking to Bridging & Commercial, Masthaven announced that 4,124 savings accounts have been opened since it launched in November. “Masthaven’s had a very busy and successful nine m...

Together recruits two new commercial managers
Posted on Monday February 20, 2017

David Walsh, who has taken on the role of commercial underwriting manager, has 15 years of experience having served at Lloyds Banking Group, Morgan Stanley’s Advantage Home Loans and Accident Cr...

Banks warm to alternative finance providers
Posted on Monday February 20, 2017

Speaking at Fintech Fortnight on 16th February, Angus Dent, CEO of P2P business lender ArchOver, revealed that some banks were now directing borrowers they cannot serve to alternative finance provider...

NACFB CFE attracts over 100 exhibitors
Posted on Monday February 20, 2017

The event – which takes place on 21st June – has been moved to the larger Hall 3a at Birmingham’s NEC after outgrowing its previous space. Visitors to the 2017 Commercial Finance ...

Bridging lending reaches £2.8bn in 2016
Posted on Monday February 20, 2017

Figures from the ASTL showed a 26% rise in the value of bridging loans written during the final three months of 2016 compared with the previous quarter. Total lending in 2016 reached £2.83bn,...

Rate rise fears drive remortgage surge
Posted on Monday February 20, 2017

The anticipation of an interest rate rise has triggered a surge in remortgaging activity, according to research conducted by LMS

Shawbrook’s digital application service celebrates most successful month
Posted on Monday February 20, 2017

January 2017 has been the most successful month for the platform to date with 45% of applications resulting in a credit-backed IMO within 15 minutes. The platform is available for specialist buy-to...

Landbay launches Innovative Finance Isa
Posted on Monday February 20, 2017

Starting today (20th February 2017), the new product will allow both new and existing investors to invest the full Isa annual allowance of £15,240. This allowance will rise to £20,000 a...

RBS plans to replace Williams & Glyn sale with £750m challenger bank fund
Posted on Monday February 20, 2017

The idea, put forward by HM Treasury, will come as part of the bank’s state aid commitments agreed with the European Commission (EC) in 2009 that RBS would carry out five major divestments. F...

Building society appoints ex-Co-op Bank manager as COO
Posted on Monday February 20, 2017

Ecology Building Society has announced the appointment of a new chief operating officer

Challenger bank backs SME lender
Posted on Friday February 17, 2017

Chelmsford-based 4Syte – which provides invoice finance of up to £500,000 to businesses across the UK – now hopes to more than quadruple its portfolio size in 2017 after its launch l...

Folk2Folk joins the P2PFA
Posted on Friday February 17, 2017

Christine Farnish, chair of the P2PFA, said she was delighted to welcome the Association’s ninth member. “They have made a big contribution to the evolution and development of peer-to-p...

SMEs fail to utilise asset-based lending
Posted on Friday February 17, 2017

While 44% of SMEs claimed they would consider asset-based lending over a loan or an overdraft, only 16% said it was their ideal form of business finance. David Thomson of Close Brothers said: &ldqu...

Bank names new CFO
Posted on Friday February 17, 2017

Permanent TSB Group has named its new group chief financial officer as it looks to grow its market presence

The Right Mortgage Network launches later life lending workshop
Posted on Friday February 17, 2017

The Right Mortgage Network has launched a later life lending workshop to train its members to meet the needs of borrowers who are aged over 55

Bibby appoints new MD
Posted on Thursday February 16, 2017

Phil has 24 years of experience in the invoice finance sector and was previously head of operations for BFS’s construction finance team. Prior to joining BFS, Phil spent time in various roles...

Portus launches robo-guidance service for employees
Posted on Thursday February 16, 2017

The company has expanded its moneygym online tool – which enables users to track retirement savings, pensions and property investments – to include a free virtual assistant video service. ...

Equifinance report changing customer profile as CCJs soar
Posted on Thursday February 16, 2017

Specialist lender Equifinance has revealed that the profile of its second charge mortgage customers has changed significantly as county court judgments (CCJs) soared in 2016

NatWest to launch speedy SME lending platform
Posted on Thursday February 16, 2017

Esme Loans, which has been developed in response to the emergence of peer-to-peer (P2P) finance, will offer unsecured and unregulated loans of up to £150,000 for a maximum term of five years to ...

OakNorth provides £8m funding for nursery acquisitions
Posted on Thursday February 16, 2017

ICP Nurseries Ltd – which cares for over 400 children in six locations – will use the funds to continue building the group and acquire further nursery settings. The deal follows ICP&rsq...

UK commercial property rental values rise 0.1%
Posted on Thursday February 16, 2017

The latest CBRE monthly index revealed that rental values had increased by 0.1% on average in January. The industrial sector maintained its strong performance at the end of 2016 into the new year w...

Council to set up £50m property investment fund
Posted on Thursday February 16, 2017

The Surrey-based council will also create a property investment company which will buy land or buildings up to a total capital value of £50m. The income generated through the property purchas...

Paragon launches new broker portal
Posted on Thursday February 16, 2017

Paragon Group has launched a new online broker portal

PRA receives 13 banking licence applications
Posted on Wednesday February 15, 2017

A freedom of information request submitted by Bridging & Commercial revealed the number of banking licence applications made to the Prudential Regulation Authority (PRA) during this period. Bri...

Only 2% of brokers expect BoE base rate increase in first half of 2017
Posted on Wednesday February 15, 2017

A poll of 230 finance brokers conducted by United Trust Bank (UTB) found that 28% believed the rate would increase in the second half of 2017, while an almost identical 27% expected it to come in the ...

BFS plans to double turnover for third year running
Posted on Wednesday February 15, 2017

The announcement follows a record year for the Wirral-based company in 2016, which saw a 102% rise in turnover year-on-year and the BFS team increase from eight to 14. BFS now anticipates similar g...

How will the new PRA buy-to-let rules affect the bridging market?
Posted on Wednesday February 15, 2017

Whether you agree with the rental ratios, affordability and stress testing or not, PRA-regulated lenders will have to reassess their processes to adhere to the regulation. Even if a buy-to-let land...

LendInvest completes its first auction finance loan in five days
Posted on Wednesday February 15, 2017

The online mortgage lender launched its auction finance proposition in December last year after a significant proportion of the deals that brokers brought to LendInvest were for purchases agreed at au...

Financial adviser handed 15-year bankruptcy restriction order
Posted on Wednesday February 15, 2017

Financial adviser Stephen Benjamin James Todd, 35, of London, has been handed a bankruptcy restriction order of 15 years after he was found to have been acting in the management of a company while an ...

Shawbrook launches HMO hybrid valuation report option
Posted on Wednesday February 15, 2017

The option is available on all small HMOs with up to six bedrooms and valued up to £1m. The hybrid report will provide a bespoke valuation assessment for HMO properties, cost reductions for b...

53% of lenders want networks to support specialist distribution channels
Posted on Wednesday February 15, 2017

More than half of the UK’s specialist lenders want mortgage networks to work more closely with specialist distribution firms, according to the latest research from Vantage Finance

Credit union appoints liquidators
Posted on Tuesday February 14, 2017

Whitmore Reans Credit Union has announced it has appointed liquidators, just under a year after being declared in default

How does the housing white paper affect the BTL market?
Posted on Tuesday February 14, 2017

Demand for buy-to-let (BTL) finance could be further reduced by the recent housing white paper, a property expert has warned

Vida Homeloans partners with mortgage network
Posted on Tuesday February 14, 2017

Residential and buy-to-let specialist Vida Homeloans has been appointed to the Mortgage Intelligence panel of lenders

Kensington cuts rates on BTL products
Posted on Tuesday February 14, 2017

Rates have been cut by up to 0.5% across residential and buy-to-let products at Kensington Mortgages

SimplyBiz: Can you afford not to get help with your FCA application?
Posted on Tuesday February 14, 2017

To those of you having your first encounter with the Financial Conduct Authority (FCA) application process, any attempt to explain how much time and resource it can demand can sound like wild exaggeration

FCA targets unauthorised loan provider
Posted on Tuesday February 14, 2017

The Financial Conduct Authority (FCA) has issued a warning over an unauthorised personal loans provider that is believed to be targeting people in the UK

Investment company acquires challenger bank shares ahead of launch
Posted on Tuesday February 14, 2017

The investment company announced it had purchased 4,545 ordinary shares, representing a 0.84% interest in Civilised Investments Limited for a consideration of £200,000. Civilised Investments ...

More lenders expected to enter NI market
Posted on Tuesday February 14, 2017

The latest poll conducted by Bridging & Commercial has revealed that 44% of finance professionals consider Northern Ireland (NI) to be the UK region most underserved by lenders.   This ...

New commercial property platform launches to ‘transform’ due diligence process
Posted on Tuesday February 14, 2017

Search Acumen’s online platform is designed to transform the due diligence process by providing real estate lawyers with instant access to commercial property data sets, giving them the ability ...

Getting ready for the next round of PRA changes
Posted on Tuesday February 14, 2017

As is often the case with regulation, one thing seems certain: costs will rise. This is something that never seems to be discussed when policies like this are implemented. It is frustrating, as those ...

Haydock Finance extends block discounting facility with HTB to £10m
Posted on Tuesday February 14, 2017

HTB’s block discounting service allows the bank to offer funding direct to independent finance houses, such as Haydock, who want to use their loan book as security for business funding. Andre...

Buy-to-let mortgage volume drops 21% in December
Posted on Tuesday February 14, 2017

The volume of buy-to-let (BTL) mortgages fell in December 2016 by 21% compared with figures for the same month in 2015, according to data released by the Council of Mortgage Lenders (CML)

HTB moves to larger HQ amid expansion plans
Posted on Monday February 13, 2017

Hampshire Trust Bank (HTB) has moved to new, custom-designed London headquarters ahead of expansion plans. The 21,000 sq ft office is located at 55 Bishopsgate in the City of London and is signific...

Scotland to launch fintech accelerator
Posted on Monday February 13, 2017

The new hub – which is backed by the UK and Scottish governments – will be based in Royal Bank of Scotland’s (RBS) Entrepreneurial Spark business centre in Gogarburn. From May, fi...

Co-op Bank launches sale process
Posted on Monday February 13, 2017

Since 2013, the Co-operative Bank has looked to implement its turnaround plan as it attempted to rebuild its services with a customer-focused retail bank. The board said it was looking to solicit p...

41% of Scottish borrowers switch mortgages
Posted on Monday February 13, 2017

More than two out of five (41%) Scottish borrowers have switched their mortgage product to get a better deal, new research has revealed

Government urged to halt right to rent scheme
Posted on Monday February 13, 2017

Right to rent is leading to discrimination in the private rental housing market, a report has alleged

Contract finance lender breaks £150m funding milestone
Posted on Monday February 13, 2017

The London-based recruitment specialist has now provided £156m to over 1,000 active clients since launching in 2014 and written off just £2,700 in bad debt. The announcement follows a p...

A guide to specialist finance associations
Posted on Monday February 13, 2017

Some of these associations have existed for decades, others have only recently been formed to cater for underserved areas of finance.  To help you to understand what each association has to of...

UTB completes £590,000 downsizing bridge
Posted on Monday February 13, 2017

The lender was approached by a broker acting on behalf of a woman who wished to move from her home in the West Country to be closer to her family in Hertfordshire. Although the woman wished to move...

Shawbrook’s legal panel steps in to save urgent bridging loan
Posted on Monday February 13, 2017

A client of Brightstar Financial required funds to purchase the freehold of a residential property which they had been renting for several years, with the intention of carrying out light refurbishment...

Shawbrook reveals dates for new series of adviser events
Posted on Friday February 10, 2017

The events will cover a range of specialist finance topics, including interest-only mortgages, second charge mortgages as well as commercial and bridging finance. The sessions will be run in conjun...

Mint recruits new head of sales ahead of ‘big growth plans’
Posted on Friday February 10, 2017

Sinead will oversee the short-term bridging company’s team of five business development managers at its head office in Manchester and will be responsible for growing the sales team. Prior to ...

Two- and three-year fixed BTL rates drop to all-time low
Posted on Friday February 10, 2017

Two- and three-year fixed buy-to-let (BTL) rates have dropped to an all-time low, new research has revealed

Specialist lender raises £150m for SME fund
Posted on Friday February 10, 2017

The Beechbrook Capital UK SME Credit I fund backs SMEs in the UK with a turnover of between £10m and £100m as well as earnings before interest, tax, depreciation and amortisation of over &...

Building society appoints new finance director
Posted on Friday February 10, 2017

Furness Building Society has appointed an ex-Williams & Glyn head of debt capital as its new finance director

Authorised credit broker cloned
Posted on Thursday February 09, 2017

The Financial Conduct Authority (FCA) has issued a warning after it found fraudsters were using or giving out the details of an authorised credit broker

Charles Haresnape to leave Aldermore for Sharia bank
Posted on Thursday February 09, 2017

The challenger bank revealed that Charles Haresnape will be leaving to join Sharia-compliant investment bank Gatehouse Bank as its new CEO. The former director of mortgage sales at Royal Bank of Sc...

Second charge repossessions climb 18%
Posted on Thursday February 09, 2017

Second charge mortgage repossessions soared during the last quarter of 2016, according to new figures from the Finance & Leasing Association (FLA)

Credit reference agency partners with fintech platform
Posted on Thursday February 09, 2017

Smartr365 uses cloud-based technology to enable clients to share data such as the value of their home and mortgage balance with a financial adviser. Under the new partnership, Smartr365 users will ...

Fleximize launches business loan comparison tool
Posted on Thursday February 09, 2017

The revenue-based finance provider’s comparison tool will allow businesses to instantly compare business loan quotes that are based on a range of different rates. Fleximize has introduced the...

Peer-to-peer platform lends over £2,000 to businesses per minute
Posted on Thursday February 09, 2017

The peer-to-peer (P2P) platform is now aiming to double its lending in 2017 after launching its innovative confidential invoice discounting service. MarketInvoice funded £1.1bn over the past ...

Hampshire Trust Bank appoints asset finance MD
Posted on Thursday February 09, 2017

Jon Maycock joins from Aldermore Bank, where he was initially the national sales director of asset finance upon his appointment in September 2013, before becoming the commercial director of asset fina...

Mass consolidation of small peer-to-peer platforms unlikely, claims lender
Posted on Thursday February 09, 2017

Last week, Stuart Law, CEO and co-founder of Assetz Capital, warned that smaller P2P companies may be forced to consolidate in the potentially tumultuous year ahead. However, Chirag Shah, chief exe...

Roma provides £250,000 bridge for London basement conversion
Posted on Thursday February 09, 2017

The client had previously taken out an £80,000 second charge to fund works on his mid-terraced property in West Norwood. However, the original builders disappeared after being paid a substant...

AnaCap to acquire major loan portfolio
Posted on Wednesday February 08, 2017

The portfolio – which comprises performing and non-performing loans (NPLs) to primarily small- and mid-sized corporates – is secured against real estate located mostly in the north of Ital...

Regentsmead funds luxury development near prestigious golf club
Posted on Wednesday February 08, 2017

The developer GK had agreed to purchase a sought-after site in Morley, Derbyshire, for the development of a luxury, five-bed detached house and swimming pool, which would be located next door to a pre...

Only 31% of brokers optimistic about UK economic growth
Posted on Wednesday February 08, 2017

A survey conducted by United Trust Bank (UTB) found that only 31% were optimistic about the nation’s prospects in the year ahead, while a further 65% felt that the UK would avoid a recession, bu...

Robert Sterling: The danger of ‘hope’ value at auction
Posted on Wednesday February 08, 2017

Indeed, that’s the danger with auctions: the price depends on who you’re bidding against on the day, or how many buyers there are in the room. It means that the cost that you pay can be fa...

FCA targets unauthorised commercial lender
Posted on Wednesday February 08, 2017

According to its website, Harbex Finance Services, of 6-9 Cranwood Street, London, claims to offer commercial, business and home loans ranging from £15,000 to £500m. The FCA stated that...

Borro offers 5% commission to partners
Posted on Wednesday February 08, 2017

Until 14th April 2017, brokers who are signed up to Borro will qualify for this package and an enhanced commission of 5% of any completed loan amount. The package includes step-by-step guides to he...

NACFB: £15m FSCS levy ‘hits the best-qualified brokers hardest’
Posted on Wednesday February 08, 2017

While one-fifth of the NACFB’s members are involved in the residential mortgage market, only a small proportion of those offer investment advice. Even less offer any kind of unregulated inves...

Chaseblue Loans reveals major expansion plans
Posted on Wednesday February 08, 2017

South Wales-based Chaseblue Loans has made a series of additions to its team as a part of a wider expansion

Masthaven names new BDM for mortgages team
Posted on Wednesday February 08, 2017

Masthaven has announced the appointment of a new business development manager for its mortgages team

Shawbrook names CFO
Posted on Tuesday February 07, 2017

Dylan has served as interim CFO since Tom Wood departed the role in June. Since joining Shawbrook in 2013, Dylan has played a significant part in the group’s IPO preparations and the developm...

The Mortgage Lender partners with packager
Posted on Tuesday February 07, 2017

The Mortgage Lender (TML) has added the Select Partnership to its distribution network

Aldermore appoints commercial director
Posted on Tuesday February 07, 2017

Prior to joining Aldermore, Patrick was the group managing director at Pitney Bowes Global Financial Services where he was based for the past 15 years. He has also served at CIT Europe, AT&T/Ne...

MFS secures £25m funding line
Posted on Tuesday February 07, 2017

The new capital – which comes from an undisclosed hedge fund manager – will sit in addition to significant existing in-house funding and strengthen the company’s ability to deploy mo...

Bridging Funding completes £5.5m loan in under 10 days
Posted on Tuesday February 07, 2017

The bridging provider came to the company’s aid after it was let down by another lender. The company was in the final stages of agreeing a lease with a major hotel operator before the previou...

Alternative Bridging strengthens broker support team
Posted on Tuesday February 07, 2017

Phodis Maratheftis has been promoted to the role and will assist Mike Jones, business development director, in securing new and profitable business in London and the South East. Since joining Alter...

Cobras and property investors
Posted on Tuesday February 07, 2017

Specifically, the cobra effect, also known as the law of unintended consequences. The cobra story harks back to the British rule of colonial India, when the British government tackled a cobra infes...

Lender secures £10m investment amid FCA approval
Posted on Tuesday February 07, 2017

Guarantor loans provider Buddy Loans has received full accreditation from the Financial Conduct Authority

Amicus Finance reshuffles board
Posted on Tuesday February 07, 2017

Keith’s decision will enable him to focus on the continued success of Amicus Property Finance following a period of major growth which saw the Amicus group hit the £1bn of property lending...

Ex-Fluent BDM joins Smart Money
Posted on Tuesday February 07, 2017

Master broker Smart Money has appointed a new business development officer amid wider plans for growth in 2017

50% of professionals predict further second charge rate drops
Posted on Tuesday February 07, 2017

Lenders are expected to continue to drop second charge mortgage rates as they look to win business within the market

The Loans Engine completes £750,000 second charge loan
Posted on Tuesday February 07, 2017

Specialist broker The Loans Engine has completed a £750,000 second charge mortgage

Bank reports 96% growth in NI mortgages
Posted on Tuesday February 07, 2017

Danske Bank has revealed its Northern Ireland business saw new mortgage lending approvals grow 96% over the past year

Building society reveals new CEO
Posted on Monday February 06, 2017

Steve Hughes has been named as the new CEO of Principality Building Society

£31m SME fund launched
Posted on Monday February 06, 2017

The Solent Local Enterprise Partnership (LEP) will establish a Solent Productivity Investment Fund to invest in local skills and infrastructure projects. In total, £25.7m of the fund will be ...

Ex-Bank of Cyprus CEO joins funding group
Posted on Monday February 06, 2017

Iacovos is a qualified chartered accountant with over 35 years of experience in the financial services sector. He had previously spent 16 years at Bank of Cyprus UK, first as a chief financial offi...

Kent Reliance announces major BTL price changes
Posted on Monday February 06, 2017

Gavin Barwell, Eastern development fund, new housing, London growth fund, Sajid Javid, Government finance, Local Enterprise funds

Peer-to-peer platform plans to treble lending
Posted on Monday February 06, 2017

The lender revealed to Bridging & Commercial after lending £46m in Q4 2016 alone, it believes the growth target is achievable. Assetz Capital revealed at the start of the year it had lent...

New peer-to-business platform launches
Posted on Monday February 06, 2017

London-based Credit Peers allows individuals to lend from £500 upwards for commercial property transactions that were previously only available to institutions and banks. The launch follows r...

Avamore funds £700,000 bridge on tight deadline
Posted on Monday February 06, 2017

The developer was looking to acquire the retail and residential building in Hoxton to carry out a refurbishment and add an extension to the upper parts. The borrower then plans to sell the finished...

Begbies Traynor joins ASTL
Posted on Monday February 06, 2017

The corporate rescue and recovery company will help ASTL members via a specialist property division, which will provide advice and assistance to first charge lenders when their client suffers financia...

Alan Margolis joins Fintex Capital
Posted on Friday February 03, 2017

The former head of bridging at United Trust Bank and qualified solicitor has joined the provider of institutional funding to European lenders as it expands its offering into the UK’s short- and ...

Octopus launches savings platform offering 1% interest
Posted on Friday February 03, 2017

Octopus Cash has teamed up with a number of challenger banks to create a one-year savings account designed to give customers better returns on their savings. Both OakNorth Bank and Cambridge & ...

Santander to raise age limit on interest-only mortgages
Posted on Friday February 03, 2017

Santander has revealed plans to extend the maximum age limit for interest-only mortgage lending from 65 to 70

Equifax partners with peer-to-peer lender
Posted on Friday February 03, 2017

The new peer-to-peer (P2P) platform enables both customers and businesses to raise finance through their family, friends and customer connections. The partnership will see Equifax supply real-time ...

Fleet Mortgages appoints new BDM for the North
Posted on Friday February 03, 2017

Jayne Kohl brings over 15 years of experience to her new role, having previously served as a mortgage adviser specialising in the new-build sector in addition to stints at Royal London and Legal &...

L&G names new home finance managing director
Posted on Friday February 03, 2017

Steve Ellis has been promoted to the role of managing director of Legal & General Home Finance

Octopus drops residential bridging rates
Posted on Friday February 03, 2017

The property finance lender, which has completed over £2.3bn of loans to date, has cut its residential bridging rate with a loan-to-value of up to 50% to 0.6%. The significant rate reductions...

Bridging: ‘I cannot see huge levels of overseas investment’
Posted on Thursday February 02, 2017

Last week, specialist lender Together agreed a £90m structured credit facility with US-based Goldman Sachs Private Capital in order to expand its bridging finance activity. However, Mike Stra...

Online mortgage broker receives £4.5m backing
Posted on Thursday February 02, 2017

The funding was led by Orange Growth Capital, who have previously backed peer-to-peer lending platform Zopa. Trussle’s existing investors, which include Zoopla, supported a seed funding round...

How our new credit facility has put us at the forefront of the bridging market
Posted on Thursday February 02, 2017

The programme is supported by Goldman Sachs Private Capital and will run until January 2021, with the underlying loans drawn from across Together’s portfolio. The news follows my previous blo...

Shawbrook reveals new director
Posted on Thursday February 02, 2017

Andrew Didham joins the banking group with immediate effect and will also join Shawbrook’s board risk committee. Andrew is currently an executive vice-chairman for Rothschild, a role he has h...

Lender nears launch after securing FCA authorisation
Posted on Thursday February 02, 2017

Nava Finance Limited has been granted authorisation to offer personal loans to UK customers by the Financial Conduct Authority (FCA)

Crystal issues almost £2bn of terms in 2016
Posted on Thursday February 02, 2017

The firm issued terms of £532.2m in the fourth quarter of 2016, marking an 81% rise year-on-year and bringing its annual total to more than £1.9bn. Completed business and enquiries also...

F4B to offer exclusive 80% LTV bridging product
Posted on Thursday February 02, 2017

The specialist distributor has access to an 80% LTV bridging product, which is based on the 180-day open market value with a loan term available for 10 months with an additional fee-free, two-month ex...

Bank rate held at 0.25%
Posted on Thursday February 02, 2017

The committee also voted to continue with the purchase of sterling non-financial investment-grade corporate bond, financed by the issuance of central bank reserves, totalling up to £10 billion. ...

Clever Lending reports surge in second charge enquires for debt repayment
Posted on Thursday February 02, 2017

Master broker Clever Lending has claimed there has been a sharp increase in broker enquiries regarding debt repayment

Castle Trust joins AOBP
Posted on Wednesday February 01, 2017

Castle Trust joins as an associate lender, which brings the number of AOBP top-level executive committee and associate lenders to 23.  The associate lender position allows Castle Trust to have...

Council secures bridging loan for Forge Island purchase
Posted on Wednesday February 01, 2017

Sheffield City Region Combined Authority agreed to the council’s bid of £1.5m to pay for the acquisition of Forge Island from Tesco.  The funding will be provided via a bridging lo...

BTL underwriting changes could prevent bridging exits
Posted on Wednesday February 01, 2017

Last week, Mike Strange, managing director of Funding 365, suggested that the Prudential Regulation Authority’s (PRA) new BTL stress test of 125% coverage at 5.5% interest per month could preven...

Shawbrook completes £2.7m loan despite last-minute difficulties
Posted on Wednesday February 01, 2017

The lender and its strategic broker partner provided a £2.7m short-term loan refinance for 12 months interest-only at 68% LTV in less than a fortnight to a repeat client. The deal was complet...

Smaller P2P players likely to struggle
Posted on Wednesday February 01, 2017

While many of those involved in business and investment are nervous, there are others benefiting and seizing on opportunities.   More than six months have passed since the Brexit vote, and sti...

Zopa passes £2bn lending milestone
Posted on Wednesday February 01, 2017

Since 2005, the lender has issued 300,000 loans to 246,000 borrowers through 75,000 investors. Zopa is now planning to extend its consumer products range. Jaidev Janardana, CEO of Zopa, said: &l...

Post Office Money launches new BTL range
Posted on Wednesday February 01, 2017

Post Office Money is due to launch a new range of buy-to-let (BTL) mortgage products on Friday

Adam Tyler launches new SME finance platform
Posted on Wednesday February 01, 2017

The former chief executive of the National Association of Commercial Finance Brokers will be using his knowledge of the UK’s business lenders, the broker market and his connections within Westmi...

Signature Private Finance announces 0.55% offer
Posted on Wednesday February 01, 2017

The new rate will be available with a 40% LTV on loans of between £250,000 and £1m, although a rate of 0.65% per month will also be on offer at 50% LTV. The offer will run until Good Fr...

Seven lenders set up alternative finance association
Posted on Wednesday February 01, 2017

The Association of Alternative Business Finance (AABF) has been founded by Capify UK, Catalyst Finance, Credit4, Fleximize, Liberis, The Just Loans Group and YesGrowth to champion and promote the best...

Challenger bank names four directors to run new team
Posted on Tuesday January 31, 2017

Andy Veares, director of large commercial banking, will lead the team, which includes Paul Robinson and Simon Vallance, both former relationship directors at Santander; as well as Mark Byrne and Andre...

Precise appoints new sales manager
Posted on Tuesday January 31, 2017

Dan Watson joins from Fleet Mortgages, having served as a business development manager, sales manager and marketing executive across a two-year period. In his new role, DipMAP-qualified Dan will pr...

Average bridging rates drop to 0.78%
Posted on Tuesday January 31, 2017

The latest Bridging Trends report from specialist lender MTF found that the average monthly interest rate dropped from 0.85% in Q3 2016 to just 0.78% in the fourth quarter. This marks a 0.11 percen...

Fleet launches new products for individual landlords
Posted on Tuesday January 31, 2017

Buy-to-let lender Fleet Mortgages has launched two new products for individual landlords

Precise appoints new sales manager
Posted on Tuesday January 31, 2017

Precise Mortgages has announced the appointment of a new national sales manager

A guide to auction finance in 2017
Posted on Tuesday January 31, 2017

It’s an exciting time for investors, well aware of the opportunities the properties on the lot sheets offer them and their portfolios. But it’s not just investors who should see the sta...

Mark Carney warns of fintech ‘systemic’ risks
Posted on Tuesday January 31, 2017

Speaking as the chair of the Financial Stability Board (FSB) at a conference in Germany, Mr Carney explained that risks to the fintech market could come to light as the fintech sector develops.  ...

Borro: The year of the underwriter
Posted on Tuesday January 31, 2017

So far, 2017 has already seen lenders adopt more stringent underwriting methods after the Prudential Regulation Authority introduced new buy-to-let underwriting standards. Claire Barrington-Jones, ...

Bradley Moore promoted to MD of Brightstar
Posted on Tuesday January 31, 2017

Brightstar Financial has announced that Bradley Moore will become its new managing director

Together ups maximum personal mortgage loan to £1m
Posted on Tuesday January 31, 2017

Together has set out plans to expand its customer base by increasing its maximum personal mortgage loan amount to £1m

Fluent added to SimplyBiz second charge panel
Posted on Tuesday January 31, 2017

SimplyBiz Mortgages has selected Fluent for Advisers to be part of its ancillary panel of specialist distributors

31% of personal loans could be used for debt consolidation
Posted on Tuesday January 31, 2017

More than 180,000 people across the UK could take out personal loans for debt consolidation in the first three months of 2017, according to Sainsbury’s Bank

London Money: Looking for a revolution
Posted on Tuesday January 31, 2017

For my first Loan Talk column, let me start with a story

FCA fines Deutsche Bank £163m
Posted on Tuesday January 31, 2017

The regulator found that the bank failed to maintain an adequate anti-money laundering (AML) control framework between 1st January 2012 and 31st December 2015. Deutsche Bank failed to properly over...

Packager names new director
Posted on Tuesday January 31, 2017

Specialist packager Complete FS has announced the appointment of a new director

Demand for Islamic finance at all-time high, bank reports
Posted on Monday January 30, 2017

Both the bank’s home purchase and buy-to-let purchase plans – which see customers acquire the bank’s share of the property through a monthly payment and rent the unowned portion of t...

ArchOver expands business lending offering
Posted on Monday January 30, 2017

Under the old model, the fixed-term business lender offered loans secured against a company’s accounts receivable, which are covered against loss by credit insurance. ArchOver’s new mod...

Mortgage club launches residential permissions
Posted on Monday January 30, 2017

Buy-to-let and commercial specialist Connect for Intermediaries has expanded its mortgage network proposition to include residential permissions

FSCS deposit protection increases to £85,000
Posted on Monday January 30, 2017

The Prudential Regulation Authority confirmed that the FSCS will now protect deposits up to £85,000 from 30th January. The FSCS protects savers deposits in banks, building societies and credi...

NLA calls for capital gains tax cut
Posted on Monday January 30, 2017

In a budget submission to the government, the National Landlords Association (NLA) has called for a reduction in capital gains tax (CGT) for residential property sales

New SME business account app launches
Posted on Monday January 30, 2017

Tide is a new small UK business current account provider which allows companies to set up a fully functioning account in minutes using their passport and driving licence.  Founded by former ba...

UTB drops bridging rates to 0.55%
Posted on Monday January 30, 2017

From 1st February, the bank will offer rates starting from 0.55% per month for first charges and 0.75% per month for second charges at up to 50% LTV. UTB has also introduced a new banding of up to ...

‘Future-minded’ regulators draw start-ups to the UK
Posted on Monday January 30, 2017

Speaking at the London Blockchain Week 2017 on 24th January, Guido Branca, CEO of banking start-up BABB, suggested that both the Financial Conduct Authority (FCA) and the Bank of England had made the ...

Commercial property an ‘unsatisfied’ market, claims bridging lender
Posted on Monday January 30, 2017

Brian Rubins, managing director of Alternative Bridging Corporation, stated that some bridging lenders were reluctant to make loans in excess of six to 12 months or do not have the suitable funding st...

Together secures £90m funding for bridging
Posted on Friday January 27, 2017

The programme, which is supported by Goldman Sachs Private Capital and will run until January 2021, follows the news that the specialist lending group’s annual lending had topped £1bn for ...

Lender posts 42% second charge surge
Posted on Friday January 27, 2017

The Paragon Group of Companies has revealed that its second charge mortgage originations rose 42% during the first quarter of 2017

Masthaven alters bond product rates
Posted on Friday January 27, 2017

Interest rates on the bank’s three-year fixed rate bond have been raised from 1.67% to 1.70% annually and 1.69% monthly. Meanwhile, the bank lowered its one-year fixed rate bond from 1.35% to...

HFBS funds refurbishment on vacant BTL in four days
Posted on Friday January 27, 2017

The client had recently moved to central London and was struggling to maintain a BTL investment. As the property was vacant and not in the best condition, the borrower wanted to complete the sale a...

Funding Circle welcomes new BDM
Posted on Friday January 27, 2017

Sarah will be responsible for overseeing Funding Circle’s introducer relations and promoting the lender’s commercial finance offering in the South West region. Prior to joining Funding ...

Gross mortgage lending reaches £246bn in 2016
Posted on Friday January 27, 2017

The total mortgage lending for 2016 was estimated to be £246bn – the highest annual gross lending figure since 2008, according to the latest research

TSB Intermediary sees 78% customer rise
Posted on Thursday January 26, 2017

The challenger bank has just entered its third year of business having launched in January 2015 in an attempt to shake up the broker market and stand out from its competitors. TSB is now looking to...

Fleet aims to lend £1bn in 2017
Posted on Thursday January 26, 2017

In only its second full year of lending, Fleet Mortgages lent over £500m and netted a profit of £2m in 2016

TSB expects significant profit decrease in 2017
Posted on Thursday January 26, 2017

The bank revealed that the prevailing low interest rates, the contractual increase of more than £100m in the outsourcing fees it pays to Lloyds Banking Group as well as the continued roll-off of...

Avamore saves developer with £235,000 bridge
Posted on Thursday January 26, 2017

The lender closed its first deal of the year– which was secured on another property in Reading with development potential – just two weeks into January.  The borrower – Danie...

Cambridge & Counties expands lending team
Posted on Thursday January 26, 2017

Andrew Ward joins as business development manager following a 22-year spell at the Co-op Bank and will now be responsible for building on Cambridge & Counties’ presence in the North West. ...

New valuation standards introduced
Posted on Thursday January 26, 2017

IVS 2017 sets requirements for the conduct of valuation assignments, such as establishing the terms of a valuation engagement, bases of value and reporting. The move follows a request from council ...

RBS sets aside further £3.1bn over US mortgages investigations
Posted on Thursday January 26, 2017

The Royal Bank of Scotland (RBS) has set aside a further £3.1bn provision for various investigations and litigation matters regarding its issuance and underwriting of US residential mortgage-backed securities (RMBS)

John Wheeler joins Century Capital
Posted on Wednesday January 25, 2017

John Wheeler has once more teamed up with Paul Munford, CEO of Century Capital, with whom he worked alongside when he launched bridging lender Omni Capital in 2010. John brings over 35 years of exp...

RBS to provide accounting platform for small business customers
Posted on Wednesday January 25, 2017

The deal will enable NatWest and RBS to offer FreeAgent’s online accounting software to business customers who may otherwise have to spend more time concentrating on their tax returns. RBS cl...

Blockchain could cut bank infrastructure costs by 30%
Posted on Wednesday January 25, 2017

Distributed ledgers – otherwise known as blockchain – are shared database systems which enable multiple parties to access the same data with a high level of security and confidence. A r...

A year of changes
Posted on Wednesday January 25, 2017

The 3% rise in stamp duty on second homes and buy-to-let purchases was greeted with some dismay. By the end of the year, buy-to-let sales had dropped to 64% according to one national estate agent. ...

Santander reduces outstanding commercial real estate loans by £200m
Posted on Wednesday January 25, 2017

In a quarterly management statement for the year ending 31st December 2016, the bank posted £9bn in outstanding CRE customer loans, down from £9.2bn in 2015. Santander attributed the 2%...

Aldermore appoints new CIO
Posted on Wednesday January 25, 2017

Rebecca, who will be based in the bank’s London office, will be responsible for technical infrastructure, IT operations and delivery capability.  She will also work with the specialist l...

Property crowdfunding platform relaunches following acquisition
Posted on Wednesday January 25, 2017

Property Crowd has been relaunched as an institutional grade platform following its acquisition in 2016, and now offers professional investors and high-net-worth individuals an 11.2% internal rate of ...

The Society of Mortgage Professionals extends roadshow
Posted on Wednesday January 25, 2017

The Society of Mortgage Professionals (SMP) has expanded its 2017 roadshow from 10 regional events to 12.

Two credit brokers cloned
Posted on Tuesday January 24, 2017

The Financial Conduct Authority (FCA) has warned that two credit brokers have been cloned

Loan Talk Second Charge Mortgage Awards 2016: Together photobooth gallery
Posted on Tuesday January 24, 2017

With this year’s Loan Talk Second Charge Mortgage Awards now behind us, it’s time to look back at some of the evening’s memorable celebrations

Second charge market faces great opportunity to fund HMOs
Posted on Tuesday January 24, 2017

Landlords looking to convert properties into houses in multiple occupation (HMOs) could present a gap in the second charge mortgage market

IMLA executive director to step down
Posted on Tuesday January 24, 2017

The Intermediary Mortgage Lenders Association (IMLA) has begun searching for a replacement executive director

New Street slashes BTL rates
Posted on Tuesday January 24, 2017

New Street Mortgages has introduced rate reductions across its buy-to-let mortgage range as well as changes to its lending criteria

Masthaven appoints ex-Prestige underwriter
Posted on Tuesday January 24, 2017

Masthaven has announced it has appointed two new underwriting managers to join its first and second charge mortgage teams

Aldermore loosens self-employed criteria
Posted on Tuesday January 24, 2017

The specialist lender has changed its requirement criteria in order to accommodate the needs of self-employed borrowers. The amendments include mortgage applicants now having to provide one year of...

NLA launches tax-filtering mortgage sourcing system
Posted on Tuesday January 24, 2017

The National Landlord Association (NLA) has created an online sourcing system to enable landlords to find the most suitable mortgages based on their tax status

Article 50 ruling likely to cause delay, warns challenger bank
Posted on Tuesday January 24, 2017

The Supreme Court voted by a majority eight to three to dismiss the government’s appeal against the decision that parliament is required to vote before the UK can leave the European Union. ...

FCA to continue work on RegTech
Posted on Tuesday January 24, 2017

The announcement came at the Westminster Business Forum at Moorgate Place in London last week, which looked at fintech in the UK and the next steps for investment, skills and regulation. Last year,...

Four P2P platforms select Goji to build IFIsa service
Posted on Tuesday January 24, 2017

Landbay, UK Bond Network, Downing and Peer Funding have all selected Goji to build and integrate a fully managed IFIsa service, capitalising on its service provider’s expertise, user experience ...

Should we expect a significant slowdown in the bridging sector?
Posted on Tuesday January 24, 2017

It saw a huge growth in the number of lenders and brokers involved in the market. It was also notable that the quality of the participants in the market improved significantly through the year (perhap...

Castle Trust revamps website for brokers
Posted on Monday January 23, 2017

Specialist lender Castle Trust has relaunched its mortgage proposition with the introduction of a new website and telephone number

B&C Awards 2017: New categories revealed
Posted on Monday January 23, 2017

Following the success of last year’s ceremony, companies from across the specialist finance market are set to compete for 20 of the coveted Bridging & Commercial awards in 2017. The event...

Advisory firm launches private bank
Posted on Monday January 23, 2017

The private bank – which will be known as deVere Group Bank St Lucia – is set to be the first private bank to be owned by an independently owned financial advisory firm. Nigel Green, fo...

Roma offers 0.75% bridging rate
Posted on Monday January 23, 2017

The new products are aimed at buy-to-let purchases, HMO conversions, property renovations, auction purchases and unmortgageable residential investment properties.   Until 14th February, introd...

Theresa May to unveil ‘global Britain’ business growth plans
Posted on Monday January 23, 2017

Mrs May will use her first regional cabinet meeting to launch proposals for a modern industrial strategy to secure Britain’s place as a competitive, global nation. A strategy green paper publ...

L&G Mortgage Club revises buy-to-let matrix
Posted on Monday January 23, 2017

The Legal & General Mortgage Club has updated its buy-to-let matrix to include the latest Prudential Regulation Authority (PRA) changes

Major bank funds 21 credit unions
Posted on Monday January 23, 2017

The bank’s partnership with the Credit Union Foundation will see a further £1m in grants handed to the credit unions.  The fund is designed to help strengthen the financial positio...

Regulation creates ‘huge’ opportunity for specialist lenders
Posted on Monday January 23, 2017

Last week, Octopus Property reported a surge in the number of agreements in principles for its buy-to-let products during the last quarter of 2016. This came despite the introduction of stricter af...

ASTL toughens up code of conduct
Posted on Monday January 23, 2017

Members voted to avoid the back-dating of higher rates of interest to the inception of a loan, should a client go into default.  The practice is known to happen within the bridging industry, b...

Misys opens crowdlending door for banks
Posted on Monday January 23, 2017

Misys FusionBanking CrowdLending will help institutions to deliver funding to all customers, ranging from individuals to SMEs and large corporations. The move will open the door for banks to claim ...

Assetz Capital reaches £200m lending milestone
Posted on Friday January 20, 2017

The lender – which focuses on financing small- and medium-sized (SMEs) British businesses and property developers – is now providing secured loans totalling as much as £26m per month...

Metro Bank to create 500 jobs for major expansion
Posted on Friday January 20, 2017

The challenger bank plans to open 12 new stores in 2017 as well as upgrading its mobile app and launching its fully integrated online account opening platform. Metro Bank will be offering these job...

OakNorth funds award-winning hotel purchase
Posted on Friday January 20, 2017

Bliss Investment Partners purchased the four-star Ramada Plaza Southport from Even Southport Ltd and will be maintaining the existing employee team. Bliss Investment Partners is co-managed by Rober...

SimplyBiz launches new specialist lending panel
Posted on Friday January 20, 2017

SimplyBiz Mortgages has launched a new specialist and complex lending panel following an in-depth tender process

Lender names new CFO
Posted on Friday January 20, 2017

Wonga Group has revealed it has hired Joanna Baker as its new group chief financial officer

David Spruce joins Together
Posted on Thursday January 19, 2017

Loan Talk can confirm that David Spruce has joined Together as a buy-to-let underwriter

Aldermore cuts BTL rates
Posted on Thursday January 19, 2017

In the same week that the specialist lender revealed the appointment of new heads for enterprise risk and relationship management, it has disclosed updated rates for its BTL product range. These in...

Remortgaging market hits £65.7bn in 2016
Posted on Thursday January 19, 2017

The value of remortgaging in 2016 increased by 21% to £65.7bn, according to conveyancing service provider LMS.

Bank to close after almost 182 years
Posted on Thursday January 19, 2017

Following a comprehensive strategic review, the bank’s board and executive team found that, although it was financially strong, it would not have the resources in the years ahead to provide the ...

Bank account applications lost over outdated ID checks
Posted on Thursday January 19, 2017

Identity confirmation provider HooYu revealed in its Digital Banking Benchmark Report that on average only 53% of online account openings are completed. The report looked at the online account open...

Ultimate Finance recruits four to senior team
Posted on Thursday January 19, 2017

Steve Noble joins as chief operating officer after stints as both risk director for business finance and regional director at Aldermore Bank. Vince Tovey has been selected to lead Ultimate’s ...

2017 focus is on regulated bridging
Posted on Thursday January 19, 2017

In fact, we’ve kicked off the new year by enhancing our bridging product range with the introduction of cross-charging, which will enable homeowners to leverage any equity in their current prope...

Council takes shareholding in new challenger bank
Posted on Wednesday January 18, 2017

The council will form a partnership with Acorn Financial Partners (AFP) which has recently submitted a banking licence application to the Financial Conduct Authority and the Prudential Regulation Auth...

Cross-charging to increase as lenders become ‘hungrier’ for business
Posted on Wednesday January 18, 2017

Last week, Together announced that it had introduced cross-charging to its range of regulated bridging products, enabling customers to secure finance against two properties.  Now, Jo Breeden, ...

Positive secures funding for £2m transaction
Posted on Wednesday January 18, 2017

Manchester-based chemical manufacturer Concept Chemicals was looking to purchase the industrial site where its factory was situated in order to expand its manufacturing operations and deter another bu...

Alternative Bridging recruits new BDM
Posted on Wednesday January 18, 2017

Simon Michael joins from Robert Sterling Financial Solutions having served there as a mortgage consultant since September 2012. Prior to this, Simon worked as a business lending officer for Greek C...

Brightstar to campaign for smarter FCA advice rules
Posted on Wednesday January 18, 2017

The ‘Could You? Would You? Should You?’ campaign aims to raise awareness of the specialist options available to borrowers with complex requirements or that have been turned down for mainst...

Challenger bank completes its biggest loan
Posted on Wednesday January 18, 2017

The bank provided £7.7m funding for the newly-opened student apartments, City Edge, which was designed by renowned architect John Madin. City Edge will provide 136 high-spec studios which are...

Accountancy firm makes 68 hires
Posted on Wednesday January 18, 2017

This latest raft of hires – which includes 43 additions to the firm’s audit team – brings the total number of new jobs created by Cooper Parry over the past year to 110. The annou...

Banking industry profits under threat
Posted on Wednesday January 18, 2017

These threats have been identified as the weak global economy, digitisation and regulation. More severe digital disruption could reduce EU banking profits from their current £89.6bn to £...

Masthaven drops bridging rates to 0.49%
Posted on Wednesday January 18, 2017

A panel of premium partners can now access rates as low as 0.49% with a loan to value (LTV) of up to 40% and 0.54% with up to 50% LTV. Master broker First 4 Bridging was among those taking adv...

Consortium of banks to develop blockchain platform
Posted on Tuesday January 17, 2017

A memorandum of understanding was signed by the banks in Brussels indicating they intend to collaboratively develop a new product called Digital Trade Chain (DTC), which utilises distributed ledger te...

Octopus reports surge in BTL product demand despite PRA regulations
Posted on Tuesday January 17, 2017

The lender issued 233 AIPs compared with 108 during the same period in 2015, an increase of 116%. Octopus Property has also already issued 32 AIPs for its buy-to-let loans in the first few days of ...

Ex-V Loans director joins F4B
Posted on Tuesday January 17, 2017

Finance 4 Business (F4B) has appointed Dave Pinnington as head of distribution

Twenty7Tec enhances system to compare further advances to seconds
Posted on Tuesday January 17, 2017

Twenty7Tec has announced it has upgraded its MortgageSource system to compare further advances and ported products to purchase, remortgage or second charge loan options

Loan Talk Second Charge Mortgage Awards 2016: In pictures
Posted on Tuesday January 17, 2017

Now that the winners have been revealed, trophies awarded and champagne guzzled, Loan Talk is delighted to present photographs from the Second Charge Mortgage Awards 2016

FCA takes court action against alleged unlicensed lender
Posted on Tuesday January 17, 2017

Dharam Prakash Gopee, 62, of London, appeared at Westminster Magistrates Court charged with offences under the Consumer Credit Act 1974 and the Financial Services and Markets Act 2000. The charges ...

Theresa May: UK to exit single market
Posted on Tuesday January 17, 2017

During her speech at Lancaster House in London, the prime minister explained that the government wanted to seek a “new and equal partnership” between a global Britain and the EU. Howeve...

Crowdcube celebrates record-breaking year
Posted on Tuesday January 17, 2017

The news follows its best quarter yet at the end of 2016 with over £15m invested through the platform in December alone. The crowdfunder reported a 20% rise in investment in the six months po...

Are mortgage brokers engaged enough with bridging finance?
Posted on Tuesday January 17, 2017

As we have said many times, the current situation in the property market (particularly the buy-to-let sector) presents huge opportunity for bridging, and providers and specialist brokers are clearly p...

FCA exposes clone broker
Posted on Tuesday January 17, 2017

The Financial Conduct Authority (FCA) has issued a warning over a payday loans broker it believes has been cloned

Mergers and takeovers in the seconds market ‘likely to be on the menu’
Posted on Tuesday January 17, 2017

Many financial institutions and investment funds have noticed the growth potential of the second charge market and are set to continue to invest in the sector, according to one master broker

84% of brokers unable to source a BTL mortgage in Q4
Posted on Tuesday January 17, 2017

More than four out of five brokers (84%) were unsuccessful in securing a buy-to-let (BTL) mortgage for some of their clients in Q4 2016, according to research from MTF

New second charge lending drops
Posted on Tuesday January 17, 2017

New second charge business volumes fell 6% in November, according to new figures from the Finance & Leasing Association (FLA)

Paragon launches residential mortgage range
Posted on Monday January 16, 2017

Buy-to-let lender Paragon Mortgages has announced that it’s in the first phase of launching a new range of residential mortgages

Commercial lender writes £384m of business
Posted on Monday January 16, 2017

The European commercial real estate lending specialist completed 28 loans last year, including 10 residential development loans worth a total of around £135m. Aeriance also provided £61...

52% of SME owners ignore mainstream bank advice
Posted on Monday January 16, 2017

The research conducted by Amicus Commercial Finance found that 52% ignored the advice of their mainstream bank, while 40% did not rate the level of service as ‘good’. The research found...

Landbay receives approval for Innovative Finance Isa
Posted on Monday January 16, 2017

Landbay becomes the latest in a string of P2P lenders planning to launch an IFIsa product, with Folk2Folk and LandlordInvest also receiving the relevant permissions within the past five weeks. The ...

FSCS to levy industry £378m
Posted on Monday January 16, 2017

This forecast sits lower than the £401m levied this year due to the announcement of three supplementary levies worth a total of £114m for 2016/17. General insurers, life and pensions ad...

Borro closes £5.6m in equity financing
Posted on Monday January 16, 2017

The announcement comes just months after the firm secured FCA permissions for its luxury asset business, consumer buy-to-let lending, and permission to enter the regulated bridging market. Borro ex...

Platform Black becomes Sancus Finance
Posted on Monday January 16, 2017

The change comes after Platform Black’s owners, GLI Finance, conducted a strategic review which looked to simplify its structure. The review saw the transfer of holdings in Platform Black to ...

Aldermore appoints new relationship manager
Posted on Monday January 16, 2017

Stephen Farrelly joins after 15 years at ABN Amro Commercial Finance, where he led relationship management and operations for the northern operations team. Stephen has also held relationship manage...

Precise launches its lowest-ever bridging rates
Posted on Monday January 16, 2017

It’s the specialist lender’s lowest-ever bridging rate and the product will be exclusively available through its premier panel members. The product is aimed at standard and light refurb...

Shawbrook bolsters residential sales team
Posted on Monday January 16, 2017

Shawbrook Bank has appointed two new staff members to its property finance division

Online lender acquired
Posted on Monday January 16, 2017

Morses Club PLC has announced it has acquired online instalment loan provider Shelby Finance Ltd

Marie Grundy joins West One Loans
Posted on Friday January 13, 2017

Marie joins West One Loans as it reportedly looks to launch a second charge mortgage offering later this year. Marie brings a wealth of knowledge from 20 years in the mortgage sector. That experien...

Loan Talk Second Charge Mortgage Awards 2016: The winners
Posted on Friday January 13, 2017

On Thursday night (12th January), hundreds of members of the specialist lending market gathered to find out the winners of the Loan Talk Second Charge Mortgage Awards 2016

Marie Grundy joins West One Loans
Posted on Friday January 13, 2017

Former V Loans managing director Marie Grundy has been appointed as Sales Director of West One Loans

Clever Lending appoints commercial and bridging specialist
Posted on Friday January 13, 2017

David has extensive experience in financial services, including time at major banking groups such as HSBC, Lloyds, Bank of Ireland, Close Brothers and the Birmingham Midshires Building Society. He ...

Funding Circle secures £82m investment
Posted on Friday January 13, 2017

The funding round was led by Accel, with additional contributions from existing investors, including Baillie Gifford, Ribbit Capital and Union Square Ventures. This latest investment comes less tha...

Optimum Credit appoints new director
Posted on Friday January 13, 2017

Optimum Credit has announced that it has appointed a new non-executive director to its board

Vida launches specialist residential mortgage range
Posted on Friday January 13, 2017

Lender Vida Homeloans has launched a specialist residential mortgage range

Target Group purchases Commercial First
Posted on Thursday January 12, 2017

The acquisition comes as part of Target’s wider strategy of growth and expansion following its takeover by Tech Mahindra in June last year.  Target Group hopes that combining Commercial ...

LandlordInvest to launch property-backed IFIsa
Posted on Thursday January 12, 2017

The firm is set to offer the new product over the next few weeks and in doing so it claims it would become one of the first platforms of its kind to release a property-backed IFIsa. Once live, inve...

Shawbrook renews NACFB title sponsorship for fourth year running
Posted on Thursday January 12, 2017

The NACFB has served as a trade body for commercial brokers across the UK since 1992 and was first sponsored by Shawbrook in 2014. The organisation has since continued to grow in stature and scope ...

Equiniti acquires Gateway2Finance
Posted on Thursday January 12, 2017

Gateway2Finance has revealed that it has been acquired by Equiniti Group PLC

Challenger bank names new commercial director
Posted on Thursday January 12, 2017

Simon Lindley has been appointed to the position after joining Cambridge & Counties at its 2012 launch as business development manager.  The new role will also see Simon involved in the ch...

Precise and Metro lower minimum property values
Posted on Thursday January 12, 2017

Precise Mortgages customers can now purchase properties from £50,000 outside of London – down from £75,000 – using its residential and buy-to-let products. For properties in...

Together enhances regulated bridging range with cross-charging
Posted on Thursday January 12, 2017

Customers will now be able to secure finance against two properties, with the firm accepting a remortgage as a repayment strategy when an additional security is being used alongside the sale of the ex...

When is a drive-by valuation appropriate?
Posted on Thursday January 12, 2017

I am slightly concerned, however, about the steadily rising number of instructions we are receiving of late to conduct ‘drive-by’ valuations, and whether they are being used in the most ap...

Precise and Metro lower minimum property values
Posted on Thursday January 12, 2017

Metro Bank and Precise Mortgages have announced that they have both reduced their minimum property purchase price for mortgage products

Pluto Finance enters bridging market
Posted on Wednesday January 11, 2017

The lender will be providing competitive short-term bridging loans alongside its stretch senior, senior and mezzanine development loans.  Loan sizes will be between £1m-6m with up to 70%...

Asset finance brokerage acquired
Posted on Wednesday January 11, 2017

The Birmingham-based asset finance brokerage becomes the latest firm to join the group of businesses owned by Australian listed company McMillan Shakespeare Limited (MSL).  The acquisition for...

Bank launches Islamic BTL range in Scotland
Posted on Wednesday January 11, 2017

The new BTL purchase plans include a 35% deposit contribution with a fixed occupancy payment rate of 2.99% and discounted variable occupancy payment rate of 3.19% until 31st December 2018. Al Rayan...

Aldermore snaps up ex-RBS head
Posted on Wednesday January 11, 2017

Petrina Oliver joins from Royal Bank of Scotland (RBS) where she served as head of prudential regulation and frameworks, risk analytics and models. Prior to RBS, Petrina also held a variety of role...

Equity release market smashes £2bn milestone
Posted on Wednesday January 11, 2017

Pensioners released a record £2.1bn of property wealth in 2016, new figures have revealed

Property law firm lands £3.8m investment
Posted on Tuesday January 10, 2017

Property and debt recovery specialist Setfords Solicitors has secured a multi-million-pound investment from the Business Growth Fund (BGF)

Landlords could become mortgage prisoners under new underwriting standards
Posted on Tuesday January 10, 2017

Stricter affordability checks for buy-to-let (BTL) finance could trap some landlords as “mortgage prisoners”, a broker has warned

Government introduces army mortgage agreement
Posted on Tuesday January 10, 2017

Army personnel who are redeployed within the UK will be able to rent out their homes without facing higher costs or having to change mortgage

Newcastle Intermediaries recruits three new BDMs
Posted on Tuesday January 10, 2017

Newcastle Intermediaries has announced the appointment of three new business development managers (BDM) to help grow its mortgage business across the UK

FCA targets clone lender
Posted on Tuesday January 10, 2017

The Financial Conduct Authority (FCA) has issued a warning over a clone lender it claims is using the details of an authorised firm

Economic uncertainty still biggest threat for business
Posted on Tuesday January 10, 2017

The Business in Britain report from Lloyds Bank found that economic uncertainty was the most commonly identified threat for UK firms over the next six months, with 26% of respondents expressing their ...

Is there a shortage of £5-20m loans?
Posted on Tuesday January 10, 2017

Brian believes there is a gap to be filled, particularly for loans for retail, industrial, residential and commercial investments, larger and more valuable homes, student accommodation, hotels or resi...

Rents soar outside London
Posted on Tuesday January 10, 2017

Rental prices outside of London soared during 2016, new figures have revealed

Lender ceases new business
Posted on Tuesday January 10, 2017

The small business loans and asset finance lender posted on its website that it would no longer be taking new business as of 1st January 2017. GAM added that as a fully licensed Financial Conduct A...

InterBay reduces commercial rates
Posted on Tuesday January 10, 2017

The firm – which was acquired by OneSavings Bank in 2012 – now offers pay rates starting from 4.89% for commercial and 4.29% for semi-commercial. Pricing has also been simplified throug...

Willpower versus action in 2017
Posted on Tuesday January 10, 2017

However, an article on 7th January by Oliver Burkeman in the Guardian stood out. The article said that will power wasn’t really the driving force behind successfully kept resolutions.  R...

New second charge packaging service launches
Posted on Monday January 09, 2017

Specialist Financial Services (SFS) has launched a new second charge loan packaging service for professional mortgage advisers looking to retain full control of their applications

Bridging lender posts £5m loss
Posted on Monday January 09, 2017

In its latest accounts published by Companies House, the bridging lender said the performance related predominantly to historic and overdue borrower non-realised debt and the potential overestimated r...

Bridging lenders urged to ‘play to their strengths’
Posted on Monday January 09, 2017

Towards the end of 2016, the Association of Short Term Lenders revealed that the total value of bridging loans written in Q3 had fallen 4% on 2015’s figures. Bridging lender MTF also found th...

Just Loans Group seeks to raise £50m through A-rated tradable bond
Posted on Monday January 09, 2017

The new bond will be fully tradable on a daily basis and has been issued through Escher-Marwick PLC on behalf of Just Cash Flow PLC, which is part of the Just Loans Group. John Davies, director of ...

A year of opportunity for crowdfunding
Posted on Monday January 09, 2017

The two blockbuster events coming up in March – the likely triggering of Article 50 and the Spring Statement – afford the government new opportunities to more vigorously champion the vital...

Half of brokers confident about business growth for 2017
Posted on Monday January 09, 2017

Shawbrook Bank’s Broker Barometer measured commercial and residential sentiment and discovered that 47% of brokers were confident about the post-Brexit UK economy. In total, 55% of commercial...

Half of brokers confident about business growth for 2017
Posted on Monday January 09, 2017

Half of commercial and residential brokers are confident about their business growth for 2017, according to figures released by specialist lender Shawbrook

Paragon launches new BTL range
Posted on Monday January 09, 2017

Buy-to-let (BTL) lender Paragon Mortgages has announced a new range of fixed rate products for BTL purchases and remortgages

FCA grants Octopus Choice full authorisation
Posted on Monday January 09, 2017

Octopus Choice claims to be the first adviser-focused P2P platform to be granted such permissions. The authorisation has now enabled Octopus Choice to begin developing an Innovative Finance Isa (IF...

FHL appoints director of marketing
Posted on Friday January 06, 2017

Foundation Home Loans (FHL) has appointed Jeff Knight to the newly created role of director of marketing.

Challenger bank recruits three new directors
Posted on Friday January 06, 2017

Georgy Naydenov and Stuart Blair both join the bank’s London office as debt finance directors, having previously served at NIBC Bank and Williams & Glyn respectively. David Webley also jo...

Funding Circle receives £40m backing
Posted on Friday January 06, 2017

The platform – which specialises in lending to small- and medium-sized enterprises (SMEs) – has facilitated a 6.2% annual return for the British Business Bank over the last four years, res...

Borro completes £590,000 regulated loan in three days
Posted on Thursday January 05, 2017

The loan was secured as a first charge facility on the client’s main residence. Borro was approached after the client had agreed to pay a deposit on a property for one of their daughters pend...

What grew in 2016 will feed bridging market in 2017
Posted on Thursday January 05, 2017

And it’s the resourceful and flexible players who will succeed in 2017. We saw that Brexit did not rock the boat as badly as predicted for most, although a number of bridging lenders ceased t...

FCA operating costs fall by £19m
Posted on Thursday January 05, 2017

A freedom of information request submitted by Bridging & Commercial revealed that the FCA group, which includes the FCA and its wholly owned subsidiary the Payment Systems Regulator, had spent &po...

Approaching uncertainty
Posted on Thursday January 05, 2017

Today, we really don’t know an awful lot more than we did back in June. In terms of politics, the most recent rhetoric is whether we will move towards a ‘hard’ or ‘soft’ ...

Ex-Fincorp BDM joins bridging lender
Posted on Thursday January 05, 2017

Gary Playle joins Signature as a new business development manager, where he will use his previous experience to support brokers in London and the South. Before joining Fincorp, Gary served as the r...

NACFB opens registration for Commercial Finance Expo
Posted on Thursday January 05, 2017

The Expo takes place on 21st June 2017 at Birmingham’s NEC in Hall 3A, a larger space than previous years to allow for more exhibitors and delegates. The NACFB confirmed there will once again...

RBS provides £119.9bn in mortgages
Posted on Thursday January 05, 2017

RBS has revealed it lend a total of over £155.2bn during the second quarter of 2016

Watchdog bans personal loans ad
Posted on Thursday January 05, 2017

The Advertising Standards Authority (ASA) has upheld a complaint against a personal loans advert

NACFB opens registration for Commercial Finance Expo
Posted on Thursday January 05, 2017

The National Association of Commercial Finance Brokers (NACFB) is now taking bookings for its annual Commercial Finance Expo

Council withdraws from P2P partnership
Posted on Wednesday January 04, 2017

Herefordshire Council’s original purpose for lending was to inject just over £15,000 into the local community at a time when Funding Circle wasn’t as well known. The partnership w...

The ‘fallout’ from last year’s events will occur during 2017 and beyond, says lender
Posted on Wednesday January 04, 2017

This is the warning from Jon Salisbury, managing director of Ortus Secured Finance, who believed that last year’s unexpected turn of events could unsettle the market during 2017. “While...

61% of SME invoices unpaid within debtor period
Posted on Wednesday January 04, 2017

New research from Amicus Commercial Finance has found that more than six out of 10 invoices (61%) issued by UK SMEs remain unpaid within the debtor day period. The lender found that 70% of firms re...

Bridging Jones’ Diary: What lies ahead?
Posted on Wednesday January 04, 2017

There are certainly challenges ahead, but if last year is anything to go by, brokers and lenders working together will be able to overcome all obstacles. Let’s examine what’s on the hor...

Mobile bank secures £8m for European expansion
Posted on Wednesday January 04, 2017

The London-based firm – which provides banking services for migrants and expats across Europe – secured funding from Anthemis Exponential Ventures, fintech investor STE Capital and Korea I...

Bitcoin pound value reaches all-time high
Posted on Wednesday January 04, 2017

Bitcoin prices rose by more than 150% in 2016, from £294.6 at the beginning of the year to £778.47 in December, according to the XE currency data. Bitcoin is a digital peer-to-peer paym...

Aldermore launches Help to Buy replacement
Posted on Wednesday January 04, 2017

Specialist lender Aldermore has announced changes to its residential mortgage product range as well as a replacement for its Help to Buy: mortgage guarantee scheme

Lender launches new BTL products ahead of ‘complex’ year
Posted on Wednesday January 04, 2017

Landbay has launched a new range of products for professional landlords in anticipation of a more complex lending environment in 2017

Master broker smashes loan record with Together
Posted on Tuesday January 03, 2017

Master broker Simply Loans has completed its largest ever loan

60% of landlords expect impact from BTL tax changes
Posted on Tuesday January 03, 2017

Almost two-thirds of landlords believe they will be affected by impending changes to both income tax relief and stricter mortgage affordability checks, new research suggests

Remortgage approvals rise as house purchases fall
Posted on Tuesday January 03, 2017

The British Bankers’ Association (BBA) has revealed remortgage approvals by the high street banks rose by 14% in November compared with the same period in 2015

Five ways to get seconds through more quickly
Posted on Tuesday January 03, 2017

Make these simple checks to smooth the way for your client’s second charge mortgage, says Ian Scarrott, head of sales at TFC Homeloans

Metro Bank to lend £1bn to businesses
Posted on Tuesday January 03, 2017

The challenger bank lent £551m in the first three-quarters of last year to its business and commercial customers and hopes these new funds will increase lending over 2017. “Businesses a...

Brokerage appoints liquidators
Posted on Tuesday January 03, 2017

Financial intermediation firm Loan Link Limited appointed liquidators toward the end of December

Aegon completes acquisition of Cofunds
Posted on Tuesday January 03, 2017

The deal – which was announced in August – will support Aegon’s plans to serve intermediaries as an investment trading platform business. Adrian Grace, chief executive of Aegon, s...

Landbay receives FCA authorisation
Posted on Tuesday January 03, 2017

The firm follows P2P lenders Folk2Folk and LandlordInvest in acquiring authorisation before the end of 2016. This year, the platform intends to launch its Innovative Finance Isa. John Goodall, C...

Retail giant to invest £35m in challenger bank
Posted on Tuesday January 03, 2017

The retailer has made an initial commitment to invest £35m in Tandem, subject to preconditions being met. The deal will see Tandem accelerate its growth by providing financial solutions to Ho...

Masthaven eyes new areas of lending
Posted on Tuesday January 03, 2017

Speaking exclusively to Bridging & Commercial, James Bloom, managing director of development finance at Masthaven, revealed what the newly launched bank had in store for the new year. “We...

MFS completes sweep of big ticket deals
Posted on Tuesday January 03, 2017

This sum was boosted by three large cases during November, including bridging finance for a pub conversion in north London. MFS lent £1.1m with an LTV of less than 70% for the purchase of a p...

Lenders to take a strict and prudent approach this year
Posted on Tuesday January 03, 2017

Our themes and approach to them are as follows:  Less ‘vanilla’ bridging and more development/conversions  In the past 12 weeks, we have noticed a trend of a drop-off in br...

64% of businesses negatively impacted from Brexit vote
Posted on Friday December 16, 2016

In a study commissioned by business data specialists Dun & Bradstreet and carried out by Censuswide, it has been revealed that there is significant concern among the UK business community regardin...

BTL listings climb 7%
Posted on Friday December 16, 2016

Almost six in 10 UK towns and cities saw an increase in the number of rental properties coming on to the market last month, according to new research

Fairstone acquires advice firm
Posted on Friday December 16, 2016

My Wealth Management has around 1,500 clients and provides bespoke financial management service through the ActivePlan platforms. Fairstone has been partnered with My Wealth Management for three ye...

Newcastle Intermediaries launches help to buy products
Posted on Friday December 16, 2016

Newcastle Building Society’s broker-facing arm, Newcastle Intermediaries, has entered the Help to Buy equity loan market with a new range of products

Santander InnoVentures invests in fintech firm
Posted on Friday December 16, 2016

Tradeshift is used by a number of Fortune 500 companies, including DHL and Zurich Insurance group, and larger organisations such as the National Health Service. The firm reported that it achieved a...

Almost a third of UK families worried about Christmas costs
Posted on Friday December 16, 2016

Some 31% of families with children are concerned about costs associated with Christmas, according to research conducted by savings and ISA provider Scottish Friendly

Greater awareness of equity release could aid widows
Posted on Friday December 16, 2016

According to research from equity release referral service Key Partnerships, over half of law firms (57%) regularly deal with clients with financial problems following a death. The research shows a...

Scottish rents nudge up in October
Posted on Friday December 16, 2016

Scottish rental prices showed a 0.3% month-on-month increase in October, according to the latest Your Move Scottish Buy-to-Let index

House price inflation will ‘not be extensive’ in 2017
Posted on Friday December 16, 2016

The NAEA has predicted that there will not be any ‘extensive’ house price inflation during 2017, while the number of transactions will remain steady. It also believes that first-time bu...

Successful remortgage applications surge
Posted on Friday December 16, 2016

A higher proportion of remortgage applications has resulted in lender offers in the past quarter, according to the Intermediary Mortgage Lenders Association (IMLA)

SMEs to benefit from new payment reporting rules
Posted on Friday December 16, 2016

From April 2017, large businesses will have to publish details twice a year on the average time taken to pay supplier invoices. Small business minister Margot James made the announcement earlier th...

Twenty7Tec to enhance system in light of PRA changes
Posted on Friday December 16, 2016

Technology specialist Twenty7Tec has announced a number of planned enhancements to its sourcing system ahead of changes to buy-to-let (BTL) underwriting standards

Masthaven completes first second charge loan since bank launch
Posted on Friday December 16, 2016

Masthaven has partnered with CSC Loans to complete its first second charge mortgage since becoming a bank

Home grown
Posted on Friday December 16, 2016

While this was laudable, according to some, others believed it fell short of the mark.  The chancellor announced that £1.4bn of funding would be made available for affordable housing, re...

Bridging lender bids to double loan book
Posted on Friday December 16, 2016

The bridging and development finance lender has set its sights on lending over £200m this year, £100m more than the amount it lent during 2016. Zorin plans to increase lending by bolste...

Regentsmead recruits ex-AToM manager
Posted on Friday December 16, 2016

Helen Searle joins the development finance specialist after four years with All Types of Mortgages as a senior commercial mortgage manager. At Regentsmead, Helen will be responsible for helping tak...

Ortus to quadruple maximum loan size
Posted on Friday December 16, 2016

The announcement comes on the back of a bumper 2016 for the specialist lender after it entered the Sharia-compliant market and well as securing a £20m funding boost. Ortus told Bridging &...

2017 will be exciting for us all
Posted on Friday December 16, 2016

Whether it was Brexit, the changes in stamp duty and interest rate relief, as well as the findings of the Prudential Regulation Authority consultation into buy-to-let (BTL) underwriting standards, the...

New consumer report slams robo-advice
Posted on Friday December 16, 2016

Research conducted for the Financial Services Consumer Panel alleged that many online investment firms failed to clarify whether they were providing regulated advice or guidance and did not discl...

Working Together in 2016
Posted on Friday December 16, 2016

From both a company and industry perspective, 2016 has been a significant year.  It started back in March with the Mortgage Credit Directive (MCD), which we soon learnt was going to be a great...

‘History could be repeating itself’
Posted on Friday December 16, 2016

In our advisory business, we are now seeing minimal activity among high street banks and other familiar lenders. As a bridging lender, we are receiving numerous enquiries from borrowers who are being ...

32% of elderly targeted by investment scams
Posted on Friday December 16, 2016

Almost one-third of over-75s believe they have been targeted by an investment scam in the last three years, new research has revealed

46% of brokers report ‘weak’ BTL demand
Posted on Thursday December 15, 2016

Almost half of brokers have reported muted demand for buy-to-let (BTL) mortgages in the third quarter of 2016

185-year-old law firm to merge in 2017
Posted on Thursday December 15, 2016

A 185-year-old commercial property law firm has announced plans to merge in the new year

Stonebridge hits 500 adviser landmark
Posted on Thursday December 15, 2016

Stonebridge Group now has 500 active advisers within its network, a 25% growth on last year’s numbers

Challenger bank names new chairman
Posted on Thursday December 15, 2016

Simon becomes the challenger bank’s second chairman after succeeding Paul Davis. Simon has served as a director of Cambridge & Counties since its launch in 2012 with experience as regiona...

Uncertainty remains in the residential market
Posted on Thursday December 15, 2016

Buy-to-let faces one of its biggest challenges in 2017

Folk2Folk eyes IFIsa launch after securing authorisation
Posted on Thursday December 15, 2016

The South West-based platform has lent over £125m since launching in 2013 and recently announced that it was aiming to facilitate £1bn through the opening of a number of regional branches....

Are regulators prepared for blockchain?
Posted on Thursday December 15, 2016

Seven out of 10 property investors think that regulators are unprepared for the introduction of blockchain

Shawbrook warns brokers of BTL underwriting changes
Posted on Thursday December 15, 2016

In a video published by Shawbrook TV, Emma Cox, sales director at Shawbrook, explained that from 1st January 2017 the Prudential Regulation Authority (PRA) will require lenders and borrowers to consid...

Mobile bank to pilot drone delivery service
Posted on Thursday December 15, 2016

Digital challenger Starling Bank has begun testing drones as a means of delivering its debit cards to customers

Treasury appoints RBS head as fintech envoy
Posted on Thursday December 15, 2016

Louise Smith, head of design in personal and business banking at Royal Bank of Scotland, and David Ferguson, CEO of Nucleus, will provide leadership and form connections to help Scotland take advantag...

Bluestone appoints new CEO
Posted on Thursday December 15, 2016

Peter McGuinness joins as group CEO with immediate effect, having previously served as CEO of the firm’s Europe division since 2003. Meanwhile, founder and executive chairman Alistair Jeffrey...

Y3S acquires stake in Pink Pig
Posted on Thursday December 15, 2016

Mortgage group Y3S has announced that it has acquired a 50% shareholding in brokerage Pink Pig Loans (PPL)

Distributor completes £1m of unsecured business loans
Posted on Wednesday December 14, 2016

Brightstar has completed over £1m in unsecured business loans in just three weeks

West One celebrates record month
Posted on Wednesday December 14, 2016

The bridging lender enjoyed a record month boosted by a £5.6m bridge for Lambert Smith Hampton for a development site with residential planning permission in south London. The news also comes...

Metro Bank snaps up ex-Aldermore head
Posted on Wednesday December 14, 2016

Nova Everidge joins from Aldermore Bank, where she had served as head of originations, head of internal sales and support and head of operations since December 2013. In her new role as head of oper...

Loan.co.uk set for further acquisitions after Only Bridging deal
Posted on Wednesday December 14, 2016

Loan.co.uk has taken a controlling stake in Only Bridging as it looks to continue to expand its presence across the UK

Banks under pressure to control costs in 2017
Posted on Wednesday December 14, 2016

This assessment has been partly attributed to the challenging economic environment created by Brexit. A Fitch Rating spokesperson said: “Our UK GDP growth forecasts are materially weaker than...

Together funds £1m regulated bridge in under a week
Posted on Wednesday December 14, 2016

The funding was used to secure a house purchase in Canada for a couple who were emigrating there. The customer had previously been let down by another lender at a critical stage in the process. ...

Loan.co.uk acquires Only Bridging
Posted on Wednesday December 14, 2016

Loan.co.uk has taken a controlling stake in Only Bridging and has revealed that it has two more acquisitions in the pipeline for the first half of 2017

Loan.co.uk acquires Only Bridging
Posted on Wednesday December 14, 2016

The acquisition of Only Bridging comes after Loan.co.uk opened offices in Northern Ireland and Cardiff this year to increase its number of regional offices across the UK to four. Only Bridging will...

1,000 bank branches closed in two years
Posted on Wednesday December 14, 2016

Figures released by Which? found that a total of 1,046 branches were shut between January 2015 and January 2017, with rural areas such as Wales, Scotland and south west England among the worst affecte...

Alternative finance lender enters education sector
Posted on Wednesday December 14, 2016

The alternative finance lender’s new education funding team will be headed up by Phillip Speed, who has been selected to lead the division following his career as a teacher in a secondary school...

LendInvest launches auction finance product
Posted on Wednesday December 14, 2016

The online mortgage lender hopes that the product will help brokers and borrowers prepare for the first auctions of 2017. The key features of the new product include: 50% discount on valuatio...

Zopa undergoes rebrand
Posted on Wednesday December 14, 2016

The peer-to-peer lending platform announced last month that it was planning to launch a bank, while last week it revealed it had stopped accepting new money transfers. Nonetheless, Zopa hopes that ...

Chairman of asset finance lender steps down
Posted on Tuesday December 13, 2016

David Anthony will also be standing down as a director of the company after five years at Private & Commercial Finance Group. The news comes after Private & Commercial was granted a banking...

UKPP expands London Property Finance Conference
Posted on Tuesday December 13, 2016

Real estate network UK Property Professionals (UKPP) will host additional shows in Manchester and Edinburgh during 2017 after being well-received in previous years. The London Property Finance Conf...

Pub insolvencies fall 7%
Posted on Tuesday December 13, 2016

The leisure sector lender revealed that there had been a steady decline in the number of firms going insolvent thanks to the opportunity of replacing scarce bank funding with alternative finance or de...

Three fintech companies to invest in the UK
Posted on Tuesday December 13, 2016

Banking technology platform Zafin, due diligence specialist OutsideIQ and investor relations firm Q4 Inc will create around 150 jobs between them, with more commitments expected in future. The thre...

Shawbrook to temporarily pull out of second charge BTL market
Posted on Tuesday December 13, 2016

Shawbrook Bank’s residential team has revealed it will be temporarily removing its buy-to-let second charge mortgage product at the end of the year

Shawbrook to cut specialist BTL and commercial rates
Posted on Tuesday December 13, 2016

From 19th December, the firm will offer brokers rates reduced by up to 1.06% on commercial products and 0.96% on specialist BTL products. Shawbrook has also simplified its proposition by introducin...

Assetz Capital appoints new CCO
Posted on Tuesday December 13, 2016

Rob Pailin joins the peer-to-peer lending platform after serving as managing director of RBS Corporate’s business in the North, as well as being chief operating officer for RBS Corporate EU Dive...

Four out of five SMEs confident about 2017
Posted on Tuesday December 13, 2016

According to the Aldermore SME Future Attitudes report, of those confident in their outlook for next year, 39% expect to see a growth in revenue in 2017. Of those expecting growth, 39% aim to do so...

FCA exposes unauthorised loan firm
Posted on Tuesday December 13, 2016

The Financial Conduct Authority (FCA) has issued a warning over an unauthorised loan firm which it believes is targeting consumers in the UK

Loan Talk Second Charge Mortgage Awards 2016: Judging day
Posted on Tuesday December 13, 2016

Voices have been heard, votes have been cast and the winners of the Loan Talk Second Charge Mortgage Awards 2016 have now been selected

Regulator launches mortgage competition review
Posted on Tuesday December 13, 2016

A new study to consider whether competition in the mortgage sector can be improved has been launched

Second charge lending down 15%
Posted on Tuesday December 13, 2016

The Finance & Leasing Association (FLA) has revealed a 15% decrease in the number of new second charge mortgages in October compared with the same time last year

Broker reports 62.5% commercial lending rise
Posted on Monday December 12, 2016

Positive Commercial Finance has reported a 62.5% rise in commercial mortgage lending between the first and third quarters of 2016

79% of consumers unaware of second charge mortgages
Posted on Monday December 12, 2016

Together has discovered that most people in the UK don’t know what a second charge mortgage is

AnaCap to acquire major bank’s French business
Posted on Monday December 12, 2016

Completion of the sale is expected to occur by the second quarter of 2017 and will include a network of 74 retail branches, a wealth and investment management arm and the bank’s brokerage operat...

Eight bridging lenders named in Spear’s 500
Posted on Monday December 12, 2016

Regentsmead, Octopus Property, LendInvest, London Bridge, Greenfield Capital, Fortwell Capital, Amicus Property Finance and MTF were all recognised for their services to the property finance industry....

OakNorth Bank completes its largest ever loan
Posted on Monday December 12, 2016

The loan is the largest ever written by the challenger bank and brings its loan book to around £300m. The finance will be used to acquire Whittlebury Hall, a four-star hotel, conference centr...

60% of brokers predict to exceed 2016 expectations
Posted on Monday December 12, 2016

New research from United Trust Bank found that 14% of property finance, asset finance and professional loan intermediaries rated their 2016 performance as “excellent”, while a further 46% ...

Regentsmead funds £3.35m worth of deals in Croydon
Posted on Monday December 12, 2016

The area is currently undergoing a major £5.25bn regeneration programme, creating thousands of new jobs and homes for local people. Regentsmead has received a significant spike in enquiries i...

Norton Folgate rebrands and appoints new COO
Posted on Monday December 12, 2016

Jeremy Guilfoyle joins from Paragon Bank Business Finance, where he had served as commercial director since January 2016. In his new role, Jeremy will be responsible for systems driving structural ...

Sharia-compliant bank surpasses £1bn in assets
Posted on Friday December 09, 2016

The news comes amid a period of major expansion for Al Rayan, with the bank reporting a 389% rise in its retail and commercial asset book over the last three years. This growth follows the bank&rsq...

FCA to strengthen crowdfunding investor protection
Posted on Friday December 09, 2016

The review found that it was difficult for investors to assess the risks and returns of investing on a platform and to compare platforms with each other or to compare crowdfunding with other asset cla...

Precise reassures customers after office break-in
Posted on Friday December 09, 2016

Precise Mortgages has written to customers to reassure them that their accounts are safe despite a break in at one of the lender’s offices

Master broker achieves record £30m quarter
Posted on Thursday December 08, 2016

Master broker Y3S Group has celebrated a record £30m of completions in one quarter

Brokerage recruits ex-Goldentree BDM
Posted on Thursday December 08, 2016

Positive Commercial Finance has appointed Gary Ellis as its new national business development manager

That’s your lot!
Posted on Thursday December 08, 2016

Auctions are exciting events. We’ve all been there, telling ourselves that we will only bid so much and then being tempted into paying over the odds for something that, on reflection, we might have found cheaper elsewhere

Law firm eyes US merger
Posted on Thursday December 08, 2016

Eversheds has revealed that it is in talks over a possible merger with US-based law firm Sutherland

Investment adviser claims lower than forecast
Posted on Thursday December 08, 2016

Claims against investment advisers have been significantly lower than forecast over the past six months to 30th September, according to the Financial Services Compensation Scheme (FSCS)

New apprenticeship standard launched for advice market
Posted on Thursday December 08, 2016

A new apprenticeship standard has been launched for the financial advice sector

Insurers braced for flooding enquiries
Posted on Thursday December 08, 2016

The Association of British Insurers (ABI) announced that insurers have a small army of people ready to call into action in the event of any flooding over the winter

Asset finance lender granted banking licence
Posted on Thursday December 08, 2016

The London-based asset finance group is now authorised with restrictions until it develops an enhanced governance framework and new technology platforms. PCFG is already well advanced with these pr...

Avamore provides bridging loan in four days
Posted on Thursday December 08, 2016

The principal lender provided the loan, at a gross facility of £378,570, secured on a plot of land in Essex with planning permission. The deal was brokered by Sunny Panwar of Kind Commercial. ...

SME loan approvals drop 12%
Posted on Thursday December 08, 2016

Banks approved £5.6bn of new loan and overdraft facilities during Q3, 12% less than in the same quarter last year. This drop was accompanied by a 13% decline in the number of loan application...

LendInvest completes its first development exit loan
Posted on Thursday December 08, 2016

A borrower saved 30% in future interest after exiting seven months into a 12-month development finance loan from another specialist lender, which had been used to fully renovate a two-bedroom apartmen...

Commercial lender secures funding from Morgan Stanley
Posted on Wednesday December 07, 2016

The funding capacity is for the Irish commercial real estate market, which Morgan Stanley has been an active lender in since 2012. The agreement will allow Origin Capital to provide higher loan to ...

Loan comparison site cloned
Posted on Wednesday December 07, 2016

The Financial Conduct Authority (FCA) has issued a warning over a cloned loan comparison site

Enterprise parent named in Sunday Times Fast Track 100
Posted on Wednesday December 07, 2016

Enra Group has been placed on the Sunday Times Virgin Fast Track 100 for the third successive year

Fleet launches new limited company products
Posted on Wednesday December 07, 2016

Fleet Mortgages has revealed three new limited company products for people looking to use corporate structures to purchase or remortgage

Landlords’ confidence bounces back
Posted on Wednesday December 07, 2016

Landlord confidence is at its highest level in a year with 54% optimistic over the prospects for their portfolios

What a first year
Posted on Wednesday December 07, 2016

It’s been just over a year since United Trust Bank (UTB) went public with its second charge loan offering and the progress we’ve made in just 12 short months has been staggering, even if I do say so myself

Property fund enters liquidation
Posted on Wednesday December 07, 2016

The fund has appointed James Robert Toynton and Ben Alexander Rhodes of Grant Thornton Limited and Sean Croston of Grant Thornton UK LLP as joint liquidators. Glanmore stated that the joint liquida...

New lender completes £5.9m before launch
Posted on Wednesday December 07, 2016

Holly Andrews, managing director of Keeping It Simple Bridging Loans, told Bridging & Commercial that her firm had completed four deals with the unnamed lender during November, totalling £5....

Ireland anticipates authorisation rise from UK firms
Posted on Wednesday December 07, 2016

The body responsible for regulating financial firms in Ireland said its workforce planning for next year reflects the additional resources needed to deal with the rise in applications. Cyril Roux, ...

Over one million HNW individuals unable to secure credit
Posted on Wednesday December 07, 2016

The ‘Asset Rich, Credit Poor’ report surveyed over 2,000 UK adults which found that 17% of high-net-worth individuals had been unable to secure a credit card, bank loan, an overdraft or co...

Zopa stops accepting new money transfers
Posted on Tuesday December 06, 2016

The peer-to-peer lending platform said that the time to lend new money was currently projected to be slow, which meant it would not be accepting new money transfers.  In an email to customers,...

Atom launches broker-focused mortgage offering
Posted on Tuesday December 06, 2016

From today, Atom will be offering a range of residential mortgage products for the self-employed, contractors, lending into retirement, purchase, remortgage, shared ownership, first-time-buyers and ne...

Credit union begins lending again
Posted on Tuesday December 06, 2016

Barrow Credit Union can now provide loans again after temporarily being unable to issue new loans earlier last month

National law firm snaps up asset finance expert
Posted on Tuesday December 06, 2016

National law firm Shoosmiths has announced the appointment of an asset finance specialist as a partner in its recoveries services group (RSG)

SME fund to launch IPO
Posted on Tuesday December 06, 2016

The company – which plans to make investments between £2m-10m over a period of three to 15 years – will make an application to list ordinary shares of one penny each in the capital o...

One in five commercial properties at risk of devaluing
Posted on Tuesday December 06, 2016

A paper undertaken by CO2 Estates has outlined the impact of the minimum energy efficiency standards (MEES) legislation. The government has already found that 19% of all commercial property in Engl...

Growth Street launches peer-to-peer lending for individuals
Posted on Tuesday December 06, 2016

The announcement means that Growth Street will be able to accept individuals as investors on the platform, which will increase its range of investors. Growth Street has partnered with Resolution Co...

Ortus Secured Finance: Welcome to regulation
Posted on Tuesday December 06, 2016

He said their service and rates could be compared with borrowing £50 from a mate, then repaying a couple of weeks later and buying him a pint to say thanks. On the basis that you’d also bu...

Welsh businesses urged to support Brexit negotiations
Posted on Monday December 05, 2016

At Cardiff’s City Hall, Mr Davis addressed 400 business leaders after spending the day visiting business in south Wales. Mr Davis said: “In exit we are not seeking a bitter divorce, but...

Lender posts £23.7m pre-tax loss
Posted on Monday December 05, 2016

West Bromwich Building Society has revealed it has made a loss before tax of £23.7m for the six months to 30th September 2016

Rip for reform
Posted on Monday December 05, 2016

The Conveyancing Association recently published its white paper ‘Modernising the Home Moving Process’, which recommended a more transparent home-buying procedure

Masthaven targets strong first-year growth
Posted on Monday December 05, 2016

The recently launched challenger bank last week revealed its new development finance division along with its range of products. Since launching, James Bloom, managing director of development financ...

Challenger bank launches title insurance for commercial offering
Posted on Monday December 05, 2016

The firm has teamed up with Titlesolv to provide cover on deals of up to £2m in case of any property title disputes during the legal due diligence process. Colin Bell, managing director of co...

Distributor secures £3.6m bridge in 10 days
Posted on Monday December 05, 2016

Crystal Specialist Finance (CSF) has helped to save a residential refurbishment project by sourcing a £3.6m bridge in just 10 working days

FCA authorises peer-to-peer bridging lender
Posted on Monday December 05, 2016

The buy-to-let (BTL) and bridging loans marketplace was granted regulatory approval following a 24-month application process. LandlordInvest has now applied to HM Revenue & Customs to become an...

Proplend set to launch Innovative Finance Isa in Q1 2017
Posted on Monday December 05, 2016

Speaking exclusively to Bridging & Commercial, Brian Bartaby, CEO and founder of Proplend, said that he believed the company was very close to receiving FCA authorisation. “Once we receiv...

HFBS provides speedy £75,000 auction finance loan
Posted on Monday December 05, 2016

The developer required a funding partner that could meet the strict deadlines involved in auction purchases and approached HFBS after being unable to finance the property through conventional mortgage...

Brits could solve £4bn business funding gap
Posted on Monday December 05, 2016

The firm cited figures which showed that in 2015, banks turned down 26% of the 324,000 loan applications made by small- and medium-sized enterprises (SMEs). By contrast, more than 1.6 million peopl...

Oblix hires new BDM
Posted on Friday December 02, 2016

The bridging and development finance lender has appointed Neil Elvish to cover the M4 corridor and Midlands. Neil brings 16 years of experience to Oblix, which includes working in both the traditio...

Sharia-compliant bank opens in Scotland
Posted on Friday December 02, 2016

Scottish customers will now have access to a large range of Islamic retail banking products, which include Sharia-compliant home and property finance products for the Scottish market. Al Rayan&rsqu...

£920k bridge provided to acquire property for PD
Posted on Friday December 02, 2016

The borrower – South West-based developer and asset manager Templerock NBH – required a bridging loan to purchase an office building on St Pauls Street, Bristol. Under permitted develop...

£1bn funding package could boost rural property investment
Posted on Friday December 02, 2016

In a report analysing the recent Autumn Statement, Market Financial Solutions (MFS) suggested that improved digital connectivity would be welcomed in the more remote parts of the UK as poor access to ...

Building society rebrands new mortgages arm
Posted on Friday December 02, 2016

Building society National Counties has announced that it has rebranded its new mortgages business

BTL mortgage costs fall again
Posted on Friday December 02, 2016

The cost of a number of buy-to-let (BTL) mortgages has fallen again, according to figures released by MortgageBrain

10 Questions with Bret Jackson of Finance 4 Business
Posted on Thursday December 01, 2016

Finance 4 Business has announced the appointment of a new marketing manager

Unauthorised financial planner targeted by FCA
Posted on Thursday December 01, 2016

The Financial Conduct Authority (FCA) has issued a warning over an unauthorised financial planner which is believed to be targeting consumers in the UK

Peer-to-peer lenders among fastest-growing tech firms
Posted on Thursday December 01, 2016

Three peer-to-peer (P2P) lenders have been named alongside some of the UK’s fastest-growing technology businesses

Together saves large commercial property deal
Posted on Thursday December 01, 2016

Tony Rowe OBE – a well-known figure in Exeter thanks to his various business interests and position as chairman of Exeter Chiefs Rugby Club – had taken an option to buy the 46-acre industr...

CBRE recruits senior director
Posted on Thursday December 01, 2016

Real estate adviser CBRE has expanded its planning team with a new senior hire

Historic commercial law firm merges with DWF
Posted on Thursday December 01, 2016

A Northern Irish commercial law firm has announced that has merged with international legal business DWF

Clever lending to run Northern Ireland roadshows
Posted on Thursday December 01, 2016

Clever Lending has partnered with Source Insurance to put on two, free GI Masterclass Roadshows in Northern Ireland

Masthaven adds F4B to premier panel
Posted on Thursday December 01, 2016

Commercial finance broker Finance 4 Business (F4B) has announced that it will join the Masthaven Bank premier partner panel

Specialist banking business posts £10m drop in operating profit
Posted on Thursday December 01, 2016

The bank’s specialist banking business saw profits decrease to £56m – for the six months to 30th September 2016 – compared with £66.1m for the same period in the previous...

Bridging Funding launches Christmas commission offer
Posted on Thursday December 01, 2016

From 2nd December until the end of January the firm will offer 1.25% commission on all deals as part of a special Christmas and New Year incentive for new brokers. Nick Hamilton, business developme...

Ripe for reform
Posted on Thursday December 01, 2016

The report highlights that since the beginning of the market’s recovery, transaction times have steadily increased from six to eight weeks. The white paper recommends an overarching home move...

MFS supports cancer charity’s annual ball
Posted on Thursday December 01, 2016

The lender is a chosen partner of Children with Cancer, who managed to raise over £600,000 with MFS playing a prominent part.  The figure breaks the charity’s previous fundraising ...

76% of SMEs forced to write off unpaid debts
Posted on Wednesday November 30, 2016

The study, which was conducted among 500 small business owners, found that the average amount written off was £11,708. The total amount written off every day was found to be £134m. A...

Brokers prefer consistency over rates
Posted on Wednesday November 30, 2016

Earlier this month, Nationwide Building Society announced that it would abort its commercial property lending ahead of a withdrawal from the commercial real estate market. This decision came as par...

SME investment platform secures £150m funding
Posted on Wednesday November 30, 2016

The Accelerated Digital Ventures (ADV) platform will provide evergreen, patient capital to small businesses across the UK, regardless of their level of development. One-third of the funding will be...

Fluent: Unsecured lending is still an option
Posted on Wednesday November 30, 2016

Fluent for Advisers is campaigning to remind brokers that unsecured loans can be a useful option when remortgaging and a second charge mortgage are not viable

Occupiers of business premises urged to seek advice over backdated rates bills
Posted on Wednesday November 30, 2016

Occupiers of commercial property split across multiple floors or in multiple neighbouring properties are being warned about hefty backdated business rates bills as a result of a Supreme Court ruling

FCA targets unauthorised lender
Posted on Wednesday November 30, 2016

The Financial Conduct Authority (FCA) has issued a warning regarding a short-term loans lender which is targeting the public without its authorisation

Bank of England stress test reveals capital inadequacies for three banks
Posted on Wednesday November 30, 2016

The Prudential Regulation Authority (PRA) board has revealed that three banks had shown some capital inadequacies in the Bank of England’s stress test for 2016

Asset manager targets bridging market through correspondent lending programme
Posted on Wednesday November 30, 2016

Bridging & Commercial has been approached by one of the UK’s largest commercial loan servicers which is working with a “significant” equity partner.  It told B&C that...

Irish commercial lender secures £25m backing
Posted on Wednesday November 30, 2016

The investment is set to allow Finance Ireland to expand its SME, motor and commercial real estate lending. ISIF will take a 32% shareholding in Finance Ireland as a result of the investment with t...

Hampshire Trust Bank bolsters asset finance team with two new hires
Posted on Wednesday November 30, 2016

Alan Lowman brings over 30 years of experience to his new position as senior underwriter, having previously served at De Lage Landen Leasing.   Meanwhile, Nina Osborn joins HTB from Societe Ge...

London house price growth expected to slow over 2017
Posted on Wednesday November 30, 2016

This news comes from the UK Cities House Price Index by Hometrack, which has found that London’s year-on-year house price growth is currently 9.1%. Despite the low growth, London has seen the...

Castle Trust to acquire Omni Capital Retail Finance
Posted on Tuesday November 29, 2016

The parent company of mortgage lender Castle Trust has agreed to purchase 100% of the issued share capital of the finance specialist.  Omni Capital Retail Finance offers point of sale finance ...

LSL posts 24% revenue growth
Posted on Tuesday November 29, 2016

Valuations and mortgage advise specialist LSL Property Services has seen its financial services revenues climb by almost a quarter in the wake of the EU referendum

Downing Crowd to raise £3m for care home development
Posted on Tuesday November 29, 2016

The crowdfunding platform is part of London-based investment manager Downing LLP, which invests in a range of UK business sectors, including healthcare. Downing Crowd uses bonds to invest in establ...

How will the Autumn Statement affect landlords?
Posted on Tuesday November 29, 2016

Competition between agents may prevent landlords from bearing the brunt of the ban on charging tenants letting fees, a money advice charity has claimed

Social enterprise to crowdfund village development
Posted on Tuesday November 29, 2016

Edinburgh-based Social Bite plans to build a small community which could house up to 20 people for around 12-15 months at a time. As part of the scheme, Edinburgh Council has donated a piece of lan...

FCA to review payday price cap
Posted on Tuesday November 29, 2016

The Financial Conduct Authority (FCA) has called for evidence and feedback to aid it in its review of the payday loan price cap

AOBP AGM smashes attendance record
Posted on Tuesday November 29, 2016

Over 150 people attended the AOBP 2016 AGM held at the May Fair Hotel in London last Thursday, which featured speeches from industry professionals. Simon Juniper, vice-chairman of the AOBP, opened ...

Lender introduces changes to rental income calculation
Posted on Tuesday November 29, 2016

BM Solutions has introduced changes to the rental income calculation it requires to support buy-to-let applications as a result of the upcoming tax relief changes on residential investment property

Stamp duty reform could boost first time buying
Posted on Tuesday November 29, 2016

A new survey has found 60% of first-time buyers would be more likely to buy a home if they did not have to pay stamp duty

Credit union ceases trading
Posted on Tuesday November 29, 2016

The Financial Services Compensation Scheme (FSCS) has come to the assistance of over 600 members of a credit union after it stopped trading

AOBP AGM smashes attendance record
Posted on Tuesday November 29, 2016

The Association of Bridging Professionals (AOBP) had a record attendance for its 2016 AGM

CMA launches open banking consultation
Posted on Tuesday November 29, 2016

In August, the CMA published the final results of its retail banking investigation, which concluded that older and larger banks should do more to compete for customers’ business. Among the ch...

MarketInvoice reaches £1bn funding milestone
Posted on Tuesday November 29, 2016

The firm revealed that it had teamed up with Leeds City Region Enterprise Partnership (LEP) in a deal that will provide local SMEs with £2m of funding on the platform each year. The announcem...

LendInvest reduces minimum loan size
Posted on Tuesday November 29, 2016

The online lender has reduced the minimum application for loans to £75,000 compared to the previous £100,000 minimum. This will be applied across all of LendInvest’s residential a...

Metro Bank plans to double asset finance loan book with new platform
Posted on Tuesday November 29, 2016

Speaking exclusively to Bridging & Commercial Richard Saulet, director of asset and invoice finance at Metro Bank, revealed Metro Bank’s asset finance loan book had grown 50 times over the l...

Shawbrook completes residential loan in seven days
Posted on Monday November 28, 2016

The loan was an RI0.1 product for simple residential investment for a 25-year period at 75% LTV. The client Alan Bedwell needed the loan to fund a property auction purchase. The deal was brokere...

SimplyBiz partners with Paragon to launch secured loans panel
Posted on Monday November 28, 2016

Distributor SimplyBiz Mortgages has teamed up with Paragon Personal Finance to launch a secured loans panel

Second charge lender appoints new manager
Posted on Monday November 28, 2016

Spring Finance has announced the promotion of Kate Hill to underwriting manager

Challenger bank Masthaven goes live
Posted on Monday November 28, 2016

Masthaven was granted a banking licence back in April and has spent the subsequent months forming a team to build its technology platform and road test products with customers. The bank's uniqu...

£2.1m to be raised for IFA acquisition
Posted on Monday November 28, 2016

Financial services group Tavistock Investments has announced plans to raise up to £2.1m in order to fund the acquisition of an independent financial adviser (IFA)

Property investor to acquire £502m commercial portfolio
Posted on Monday November 28, 2016

Operating as VIA Outlets, Hammerson and its partners APG, Meyer Bergman and Value Retail are set to acquire four retail venues in Germany, Portugal, Spain and Poland. Hammerson has a 47% interest i...

Masthaven cuts bridging rates after bank launch
Posted on Monday November 28, 2016

The bank has lowered both rates and valuation fees across each of its four bridging finance products, as well as introducing restricted legal fees and rolled-up interest. The news follows the offic...

MFS hires new underwriter
Posted on Monday November 28, 2016

Donaline Daniel, who has spent 15 years working in the bridging and finance industry, brings her vast knowledge to MFS. She has experience in working with complex cases to arrange bridging loans, w...

Brexit to cost UK £58.7bn
Posted on Monday November 28, 2016

The OBR announced that the pre-measures increase in cumulative borrowing by 2020/21 is forecast to be £100bn higher than otherwise, and £58.7bn was “related to the referendum result ...

Goldentree appoints new BDM
Posted on Monday November 28, 2016

Richard Wilfan joins from Together, having served as a second charge underwriter for eight years. Although Richard will be based at Goldentree’s headquarters in Warrington, his new role will ...

Business mortgage enquiries soar 132%
Posted on Monday November 28, 2016

Enquiries to the NACFB’s findSMEfinance platform were up 132% on the same period last year, representing a 75% increase on September’s figures. London witnessed the greatest surge in de...

TFC cuts fees for Black Friday
Posted on Friday November 25, 2016

Specialist distributor TFC Homeloans has announced that it’s reducing its fees this Black Friday

Amicus hits £1bn lending mark
Posted on Friday November 25, 2016

Keith Aldridge, managing director of Amicus, revealed the news to guests during a stakeholder event held at Le Meridien Hotel, Piccadilly, on 24th November. The announcement came just weeks after t...

AOBP AGM: Association considers name change
Posted on Friday November 25, 2016

Some 150 members and guests attended the event at the May Fair Hotel in London, during which Simon Juniper, vice-chairman of the AOBP, suggested that the current name may no longer accurately reflect ...

Kuflink opens new HQ
Posted on Friday November 25, 2016

The firm relocated from another location in Gravesend to the site of a former Blockbusters, following a period of expansion in which it has rebranded and launched a P2P proposition. Around 60 guest...

FCA targets unauthorised adviser firm
Posted on Friday November 25, 2016

An unauthorised mergers and acquisitions adviser is believed to be targeting consumers in the UK

European Commission launches fintech Task Force
Posted on Friday November 25, 2016

The European Commission has announced that it has launched a Task Force on Financial Technology (TFFT)

Niu Solutions to support SME lender’s expansion
Posted on Friday November 25, 2016

Niu Solutions along with partner Profile Software has secured a contract with SME lender Fiduciam

Two law firms consider merger
Posted on Friday November 25, 2016

The partners at Addleshaw Goddard and HBJ Gately are exploring the possibility of combining the two firms

Finance 4 Business targets 185% growth
Posted on Friday November 25, 2016

Well, we are rapidly approaching the end of another interesting year

Law firm completes double acquisition
Posted on Thursday November 24, 2016

Specialist law and asset management services firm MJ Hudson has announced the completion of two acquisitions

IGF to invest a further £5m in SMEs
Posted on Thursday November 24, 2016

IGF, which opened its Scottish branch back in July, specialises in asset-based loans to SMEs. So far, the lender has provided facilities to 10 clients, including a £100,000 invoice finance fa...

55,000 private landlords register for licences in Wales
Posted on Thursday November 24, 2016

The Welsh government has revealed that over 55,000 private landlords had registered for letting licences on the eve of a government push for registration enforcement

500,000 Scots to launch businesses
Posted on Thursday November 24, 2016

Research published by the Bank of Scotland found that 12% of Scotland’s adult population anticipate starting a company on their own or with a partner. This sentiment was particularly strong a...

17 firms authorised to manage Innovative Finance Isas
Posted on Thursday November 24, 2016

The IFIsa was launched on 6th April this year and allows savers to use some or part of their annual Isa investment allowance to receive tax-free interest and tax-free capital gains on funds lent throu...

TSB welcomes 14 new apprentices
Posted on Thursday November 24, 2016

The challenger bank’s apprenticeship scheme has recruited 63 apprentices since 2014 and provides a Level 2 City & Guilds qualification as well as an NVQ in Providing Financial Services. T...

Paragon Bank to enter specialist residential mortgage market
Posted on Wednesday November 23, 2016

Paragon Bank has announced plans to launch a new range of specialist residential mortgages

Fluent: Regulation not to blame for rigid underwriting
Posted on Wednesday November 23, 2016

Advisers should not think that nothing more can be done for clients when lenders tell them that regulation is responsible for the increasing number of mortgage cases that fall through at the underwriting stage

Mint looks to grow loan book ‘considerably’ in 2017
Posted on Wednesday November 23, 2016

Anthony Akka, head of legal at Mint Bridging 1. What does your role consist of and what roles/experience have you had in the past? My role mainly consists of case management of the legal trans...

£1.5bn property fund to reopen
Posted on Wednesday November 23, 2016

In July, Aviva took the decision to temporarily suspend all dealing in the trust to safeguard the interest of investors following the UK’s decision to leave the European Union. The property t...

Why are lenders being drawn to the banking market?
Posted on Wednesday November 23, 2016

Recently, Bridging & Commercial reported that both Amicus Finance and peer-to-peer lender Zopa had applied for banking licences, while Masthaven Bank, which was granted its retail banking licence ...

Bridging lending drops
Posted on Wednesday November 23, 2016

The figures also showed that the value of loans in Q3 2016 fell 17.4% compared with Q2 2016. However, the total value of loans written by ASTL members for the year ending 30th September 2016 is up ...

£145m SME fund launched for North East
Posted on Wednesday November 23, 2016

The North East Fund will offer different types of equity investments and loans to firms looking to drive local growth, investment and job creation in the area. The fund agreement has been signed by...

Autumn Statement 2016: Industry responds
Posted on Wednesday November 23, 2016

Read the summary of key changes in the Autumn Statement 2016 The most notable changes Mr Hammond revealed included a £2.3bn Housing Infrastructure Fund to build up to 100,000 new homes in are...

What are the key changes from the Autumn Statement 2016?
Posted on Wednesday November 23, 2016

£2.3bn housing infrastructure fund to deliver up to 100,000 new homes in areas of high demand   £1.4bn invested to provide 40,000 additional affordable homes   Ban of ...

Autumn Statement 2016: Letting agent fees banned
Posted on Wednesday November 23, 2016

The chancellor of the exchequer outlined the changes during the Autumn Statement, where he also revealed new housing and venture capital funds.  Explaining his decision, Mr Hammond stated: &ld...

Autumn Statement 2016: Chancellor announces £400m venture capital investment
Posted on Wednesday November 23, 2016

In his Autumn Statement, the chancellor revealed that the government would invest £400m into venture capital funds through the British Business Bank, unlocking £1bn of new finance for grow...

Autumn Statement 2016: £2.3bn housing infrastructure fund launched
Posted on Wednesday November 23, 2016

Exactly five months after the EU referendum and four months since Theresa May became prime minister, Mr Hammond presented the government’s plans and priorities for the economy, including how to ...

Autumn Statement 2016: Letting agent fees banned
Posted on Wednesday November 23, 2016

Philip Hammond has revealed that tenants will no longer have to pay letting fees with these costs instead being passed on to landlords

What are the key changes from the Autumn Statement 2016?
Posted on Wednesday November 23, 2016

In his inaugural, and surprisingly last, Autumn Statement, Chancellor of the Exchequer Philip Hammond announced the government’s priorities for the economy

Autumn Statement 2016: £2.3bn housing infrastructure fund launched
Posted on Wednesday November 23, 2016

In his inaugural, and surprisingly last, Autumn Statement, Chancellor of the Exchequer Philip Hammond announced a £2.3bn Housing Infrastructure Fund to deliver up to 100,000 homes in areas of high demand

CYBG posts first profit in five years
Posted on Tuesday November 22, 2016

The bank recorded a statutory PBT of £77m in its first year as an independent PLC, while underlying PBT also rose 39% from £159m in FY2015 to £221m for the year ending 30th September...

Bank of England consults on FSCS deposit protection
Posted on Tuesday November 22, 2016

The limit for firms authorised by the Prudential Regulation Authority (PRA) is currently set at £75,000 and would rise from 30th January 2017. However, firms would have until 30th June 2017 t...

Premier League club joins P2P trading platform
Posted on Tuesday November 22, 2016

The Premier League side has offered its shareholders the ability to release their shares on the trading platform to unlock liquidity as well as increasing Tottenham’s exposure to heightened inve...

Funding 365 reveals short-lease bridging product
Posted on Tuesday November 22, 2016

The short-lease bridging product looks to fill the gap in the short-term lending market and comes after consultation with brokers. The product can be used for investments where the lease terms are ...

Borro launches panel of luxury asset lending partners
Posted on Tuesday November 22, 2016

These include exclusive rates for their clients, higher commission rates for referrals and individual training for their team. Panel members will also get a designated Borro team member for all enq...

Century Capital on the hunt for new BDM
Posted on Tuesday November 22, 2016

The bridging lender is on the hunt for a new business development manager as well as an experienced underwriter.  Successful applicants would have the chance to start immediately and comes aft...

Signature recruits new sales manager
Posted on Tuesday November 22, 2016

Steve Sanderson joins from Clever Lending, where he had served as a commercial and bridging specialist since July 2015. His appointment is the latest in a number of recent additions following a sur...

LendInvest snaps up ex-Castle Trust manager for northern push
Posted on Tuesday November 22, 2016

Damien Druce brings over 10 years of experience to LendInvest having previously served as head of distribution and development at Crystal Specialist Finance and most recently as national development m...

RLA stands by landlord sell-off figures
Posted on Tuesday November 22, 2016

The Residential Landlords Association (RLA) is standing by figures released last week about the number of landlords selling properties due to buy-to-let tax changes

34% predict lenders to pull out of BTL market
Posted on Tuesday November 22, 2016

Lenders should consider expanding their target market rather than prematurely pulling out of the buy-to-let (BTL) sector ahead of changes to underwriting standards, a broker has urged

Brits without passports struggle to rent homes
Posted on Tuesday November 22, 2016

A new survey has found that 43% of landlords are less likely to rent to those without a British passport because of the fear of criminal sanctions due to the Right to Rent legislation

FCA targets unauthorised loan firm
Posted on Tuesday November 22, 2016

The Financial Conduct Authority (FCA) has warned the pubic regarding an unauthorised loan firm targeting people in the UK

Law firm bids to double turnover after acquisition
Posted on Tuesday November 22, 2016

Switalskis Solicitors has announced the acquisition of two legal teams amid wider plans to double its turnover

Vida Homeloans expands distribution panel
Posted on Monday November 21, 2016

Vida Homeloans has announced it is teaming up with new distributor partners

Prestige appoints ex-New Street manager
Posted on Monday November 21, 2016

Prestige Finance has announced the appointment of a senior business development manager as it looks to strengthen broker relationships across the UK

Right to Buy product with valuation fee refund launched
Posted on Monday November 21, 2016

Specialist lender Precise Mortgages has partnered with Crystal Specialist Finance to launch an exclusive Right to Buy product

Ireland named top European location for buy-to-let
Posted on Monday November 21, 2016

With regards to average rental yield, Ireland – which recorded a figure of 6.54% – has jumped from its previous position of 10th to the top spot. This is 14 positions ahead of the UK, w...

Government predicted to give up on balanced budget target
Posted on Monday November 21, 2016

The banking group anticipates that policy announcements will include the objective of the ‘balanced’ budget by 2019 being dropped, increased infrastructure spending, measures to improve pr...

IFA forced to sell £4m property empire
Posted on Monday November 21, 2016

Adeel Mirza, 47, was convicted of nine counts of fraud in 2013 and jailed for six years after a National Crime Agency (NCA) investigation revealed he had provided false income and employment details t...

When does a bank refer a client to alternative funding?
Posted on Monday November 21, 2016

The news comes after the government revealed earlier this month a system in which SMEs would be matched with alternative finance lenders when they are turned down for funding by banks.  What c...

Amicus to fund three northern developments after Manchester office launch
Posted on Monday November 21, 2016

Among the deals is a part-conversion scheme in the Northern Quarter of Leeds city centre, which will transform an existing office building into 60 apartments with a further 19 in an adjoining new-buil...

A BTL guide to London and major regional cities in the UK
Posted on Monday November 21, 2016

Now many potential landlords are concerned about the future of buy-to-let in the UK, with stamp duty increases, property prices getting lower and general uncertainty governing the country after the Ju...

Simon Juniper joins F4B
Posted on Monday November 21, 2016

Finance 4 Business (F4B) has announced the appointment of Simon Juniper as a senior business adviser

Metro Bank unveils new commercial banking platform
Posted on Monday November 21, 2016

The bank has responded to customer feedback by streamlining the online experience through state-of-the-art technology. Among the new features is an advanced search facility, which provides clients ...

P2P money transfer service launched in 14 countries
Posted on Friday November 18, 2016

The subsidiary of Swedish firm Seamless is launching a peer-to-peer money transfer solution that allows users to instantly transfer money to each other wherever they are in the world. The solution ...

Looking back on bridging and Brexit
Posted on Friday November 18, 2016

It’s been a busy year for bridging, and a surprising one taking into account all the economic changes affecting both the finance and property sectors, from Brexit to the buy-to-let tax changes. ...

Specialist lender wins Employer of the Year award
Posted on Friday November 18, 2016

The buy-to-let and specialist lender beat Tate and the Hampshire Court Hotel, who were also nominated for the award. Bob Young, chief executive officer of Fleet Mortgages, commented: “I&rsquo...

Gross mortgage lending reaches £20.6bn
Posted on Friday November 18, 2016

Gross mortgage lending remained steady at £20.6bn in October, according to data released by the Council of Mortgage lenders (CML)

Conveyancing Association calls for house purchase reform
Posted on Friday November 18, 2016

The Conveyancing Association (CA) has published a white paper calling for major reforms in the house-purchase process

Mark Posniak leaves Octopus Property
Posted on Thursday November 17, 2016

Mark, who is on gardening leave as of today, was promoted to managing director in September last year after former CEO Jonathan Samuels left the company to start up his new venture Upfront. Mark ha...

Amicus opens new Manchester office
Posted on Thursday November 17, 2016

The new office on Princess Street will provide SME lending, working capital solutions and short-term property loans through its three divisions: Norton Folgate, Amicus Commercial Finance and Amicus Pr...

Peer-to-peer lender bids to facilitate £1bn through new branches
Posted on Thursday November 17, 2016

Folk2Folk has recently opened its third branch in Gloucestershire and plans to open another seven in 2017 starting with Harrogate in January. The lender is currently mainly based in the West Countr...

Wells Fargo to develop robo-adviser
Posted on Thursday November 17, 2016

Wells Fargo Advisors, part of the Wells Fargo banking group, has announced it will collaborate with SigFig to develop a digital advisory offering

Bank of England given new buy-to-let powers
Posted on Thursday November 17, 2016

The FPC is responsible for monitoring and intervening in the financial system to minimise systemic risk. From early 2017, the FPC will be directing the Prudential Regulation Authority and Financial...

Enterprise owner to secure new majority stakeholder
Posted on Thursday November 17, 2016

Exponent Private Equity has reached an agreement to acquire a majority stake in ENRA Group from management and Livingbridge

FCA reveals agreement with Chinese central bank
Posted on Thursday November 17, 2016

As part of the accord, the two parties will share information such as market trends and developments, regulatory issues and data on organisations. The agreement is to be signed by Yi Gang, deputy g...

Ying Tan: V Loans a big loss for the market
Posted on Thursday November 17, 2016

It seems Mortgage Credit Directive (MCD) has claimed its first high-profile victim. V Loans – the specialist master broker and appointed representative of Key Retirement – has called it a day citing the “significant transition” the market has been forced to undergo as a reason why

33% call for more structured CPD for mortgage activities
Posted on Thursday November 17, 2016

A new survey has found that a number of finance professionals are calling for more structured Continued Professional Development (CPD) for mortgage-related activities

Challenger bank trials contactless blockchain payments
Posted on Thursday November 17, 2016

Challenger Metro Bank has helped to trial a new payment system which merges blockchain with contactless smartcards

Clever Lending helps save client £1.2m
Posted on Thursday November 17, 2016

Master broker Clever Lending has come to the aid of a corporate borrower in a debt reduction deal from their high street bank worth £1.2m

Regulators approve £30m bank sale
Posted on Thursday November 17, 2016

Both the Financial Conduct Authority and Prudential Regulation Authority have approved the sale of Tungsten Bank to Wyelands Holdings Limited on behalf of Sanjeev Gupta, executive chairman of Liberty ...

High Court’s Article 50 ruling a ‘spanner in the works’
Posted on Thursday November 17, 2016

Earlier this month, the High Court ruled that MPs would have to vote on whether the UK should invoke Article 50, which would begin the country’s exit from the European Union. However, the gov...

‘Seconds are an area commercial brokers would do well to take a longer look at’
Posted on Thursday November 17, 2016

We saw a recent example where, due to pressure from the bank, the solution resulted in a £2m high street remortgage on one property, and a short-term bridging solution involving several buy-to-l...

Peer-to-peer lender to launch bank
Posted on Thursday November 17, 2016

The lender has announced it will be applying for a banking licence with the regulatory process expected to take 15-24 months.  Next Generation Bank will sit alongside Zopa’s current peer...

SME lender acquired in management buyout
Posted on Thursday November 17, 2016

The buyout of the independent invoice finance facility provider was completed by David Tilling, Neal Errington and Darren Cottenden. As well as the RBS funding, the team also secured a £9m in...

First Complete and Pink call on brokers to revisit mortgage books
Posted on Wednesday November 16, 2016

First Complete and Pink has launched a UK-wide campaign to encourage brokers to revisit their mortgage books before the end of the year.

Business bank looks to cut 1,500 jobs
Posted on Wednesday November 16, 2016

The Netherlands-based company claimed the measures could save around £344m, despite reporting underlying net profits of approximately £522.7m during the third quarter of 2016, a 19% rise o...

Rob Lankey leaves Aldermore and joins NACFB
Posted on Wednesday November 16, 2016

The former Aldermore managing director of commercial mortgages will join the Association with immediate effect to assist with the handover following the resignation of Adam Tyler. Rob left Aldermor...

Industry responds to Redfern review
Posted on Wednesday November 16, 2016

The Redfern report is an independent study commissioned by the shadow secretary of state for housing and planning John Healey MP to assess the recent decline in home ownership and how it can be addres...

Why property needs to be key focus in the Autumn Statement
Posted on Wednesday November 16, 2016

With the Autumn Statement taking place next Wednesday, housing is likely to be a key issue. Philip Hammond is expected to unveil a fund of up to £5bn targeted at small- and medium-sized devel...

FCA publishes rules for the sale of Lifetime Isa
Posted on Wednesday November 16, 2016

The LIsa was announced in this year’s Budget and was created to allow people under the age of 40 to save or invest flexibly for a deposit for a first home or save for retirement. The FCA inte...

‘Sourcing systems and human expertise - a winning combination’
Posted on Wednesday November 16, 2016

Fluent for Advisers’ head of intermediaries Jeff Davidson is urging brokers – especially those new to second charge loans – to use sourcing systems as a primary filter.

First Complete and Pink launch remortgage campaign
Posted on Wednesday November 16, 2016

First Complete and Pink has launched a UK-wide campaign to encourage brokers to revisit their mortgage books before the end of the year.

25% of BTL landlords selling up over tax changes
Posted on Wednesday November 16, 2016

A quarter of buy-to-let landlords are selling their homes as a result of government tax changes, according to the Residential Landlords Association (RLA)

UK law firm merges with Chinese business
Posted on Wednesday November 16, 2016

UK law firm Fieldfisher has announced it is merging with Chinese counterpart JS Partners as it looks to continue with its growth ambitions

West One parent to secure new majority stakeholder
Posted on Wednesday November 16, 2016

ENRA – which owns bridging lender West One Loans and master broker Enterprise Finance – will use the investment to help fund its expansion into the specialist buy-to-let and second charge ...

56% expect increase in regulated bridging lenders
Posted on Wednesday November 16, 2016

A recent poll conducted by Bridging & Commercial found that 56% of those surveyed expected to see more regulated bridging lenders next year. However, with the poll showing a relatively...

ThinCats joins NACFB as patron
Posted on Wednesday November 16, 2016

The move comes as the peer-to-peer (P2P) lending platform looks to grow its loan origination avenues to provide a stream of options to its bank of lenders. ThinCats recently announced that it was s...

Analytics platform launches to help banks with accounting
Posted on Wednesday November 16, 2016

SAS Expected Credit Loss simplifies the calculation and reporting process for banks by bridging the data gap between finance and risk departments. The launch follows the introduction of the new Int...

FCA authorises debt charity
Posted on Tuesday November 15, 2016

The Foundation for Credit Counselling has been granted authorisation from the Financial Conduct Authority (FCA)

Landlords urged not to tackle tax changes alone
Posted on Tuesday November 15, 2016

Landlords should avoid tackling their tax changes alone, despite the government’s attempts to simplify the process, a property analyst has warned

V Loans exit: Market reaction
Posted on Tuesday November 15, 2016

The second charge mortgage industry has reacted to last week’s news of V Loans pulling out of the market

UTB funds second charge mortgage to pay for school fees
Posted on Tuesday November 15, 2016

United Trust Bank (UTB) has completed a second charge mortgage for a couple hoping to pay off private school fees

When a larger deposit is required due to rising rental calculations
Posted on Tuesday November 15, 2016

According to recent industry statistics, house-price growth remains robust and, as a result, demand for rental properties is on the rise

Loan comparison site cloned
Posted on Tuesday November 15, 2016

The Financial Conduct Authority (FCA) has issued a warning over an authorised loan comparison site which has been targeted by fraudsters

Robo-adviser secures £24m investment from IFA firm
Posted on Tuesday November 15, 2016

Robo-adviser and wealth manager Nutmeg has secured a £24m investment from an independent financial advisory firm

Specialist bank to list on London stock market
Posted on Tuesday November 15, 2016

The bank, which provides a range of commercial finance products and specialises in the business sector, will look to maintain its listing on the Cyprus Stock Exchange, but will no longer be listed on ...

HFBS provides £200,000 loan in 72 hours
Posted on Tuesday November 15, 2016

A delay in a business transaction had left the client without available funds as they were nearing completion and committed to purchasing an investment property. This meant the client faced the pro...

The most eventful year politically for generations
Posted on Tuesday November 15, 2016

In fact, let’s not kid ourselves: it has been the most eventful year politically for generations. I keep pinching myself to see if I’ll wake up. Anyway, don’t worry, I’m not...

LendInvest completes two deals in Scotland
Posted on Tuesday November 15, 2016

The online lender officially began operating in Scotland four months ago and deals recently completed included bridging loans for £480,000 and £200,000.  LendInvest provided the &p...

Funding Invoice lends £6m in first year
Posted on Tuesday November 15, 2016

The Surrey-based invoice trading platform connects SMEs with a network of high-net-worth investors who advance the value of unpaid invoices. Funding Invoice claims that its average invoice payment ...

FHL partners with L&G Mortgage Club
Posted on Monday November 14, 2016

The alliance will give L&G Mortgage Club members access to FHL products as well as direct access to TED, FHL’s online portal. L&G Mortgage Club claims to have completed almost one in ...

Adviser group announces major board changes
Posted on Monday November 14, 2016

Advisory group Tenet has announced a shake-up to the boards of its Tenet Limited and Tenet Group Limited businesses

Lender completes six deals in 48 hours
Posted on Monday November 14, 2016

Working with Finance 4 Business, the lender completed six deals ranging from a £65,000 auction purchase loan to a regulated bridging loan of just under £1m. Marc Goldberg, commercial CE...

Second charge mortgage repossessions down 35%
Posted on Monday November 14, 2016

The Finance & Leasing Association (FLA) has revealed there were just 36 second charge mortgage repossessions during Q3 2016

Loan Talk Second Charge Mortgage Awards 2016: Shortlist revealed
Posted on Monday November 14, 2016

Loan Talk is proud to announce the nominees shortlisted for the Loan Talk Second Charge Mortgage Awards 2016

FCA targets unauthorised bank
Posted on Monday November 14, 2016

Bolivia-based Seedoro Bank claims to have advisers and management with more than 18 years of experience in in providing financially attractive solutions. It claims to offer products such as account...

Sharia-compliant P2P lenders could enter market, banker reveals
Posted on Monday November 14, 2016

Speaking to Bridging & Commercial, Maisam Fazal, head of commercial finance at Al Rayan Bank, admitted that there may be a gap in the market for alternative finance such as P2P lending. “...

Can you rely solely on AVMs?
Posted on Monday November 14, 2016

Last month, the Royal Institution of Chartered Surveyors published a blog that stressed the increasing importance of technology to the valuation industry. However, Marcus Radcliffe, chief executive...

Alternative Bridging eases criteria for Christmas
Posted on Monday November 14, 2016

The ‘Christmas has come early’ campaign includes lower interest rates, increased LTV ratios and higher commissions for its broker partners. This news follows the appointment of a new bu...

First green Innovative Finance Isa to be launched
Posted on Monday November 14, 2016

The firm offers peer-to-peer investment that it claims create something good for the environment and society, without compromising on investors’ financial returns. Abundance’s IFIsa wil...

HTB bolsters commercial team with three new hires
Posted on Monday November 14, 2016

Stephen Mettler and Sammi Gilbank join HTB as commercial lending managers, while Mark Marlow has been appointed as BDM for the London region. Stephen has been recruited from Enterprise Finance, whi...

Residential sales activity on the rise but supply dwindles
Posted on Friday November 11, 2016

Across the country, 10% more respondents reported a rise in residential housing demand than a fall in October, while 23% more observed a rise in prices than a fall. However, in London there’s...

49 bank branch closures dubbed ‘alarming’ by Union
Posted on Friday November 11, 2016

Earlier this week, Lloyds Banking Group announced plans to close 49 branches and cut 665 jobs as part of its wider role reductions announced in October 2014. However, Unite has now voiced concerns ...

UK banks pay £17.4bn in tax
Posted on Friday November 11, 2016

The BBA revealed that the total tax contribution for the UK banking sector climbed to £34.2bn in the year to 31st March 2016, representing a 9.3% increase on the corresponding figure for 2014. ...

Vida Homeloans expands packager panel
Posted on Friday November 11, 2016

Specialist lender Vida Homeloans has announced that it’s expanding its panel of packaging partners for residential and buy-to-let mortgages

Lender reports 65% lending boost since MCD
Posted on Thursday November 10, 2016

Second charge mortgage lender Equifinance has reported a 65% rise in lending volumes since the introduction of the Mortgage Credit Directive (MCD) earlier this year

Advisory group acquires IFA
Posted on Thursday November 10, 2016

A financial advisory group has announced the acquisition of an independent financial adviser (IFA)

Can you rely solely on AVMs?
Posted on Thursday November 10, 2016

Automatic valuations could be dangerous if relied upon too heavily, a surveyor has warned

Crystal secures finance for family business
Posted on Thursday November 10, 2016

Crystal Specialist Finance has enabled a small, Midlands-based family business to open a second paint, furniture and coffee shop

BoE to create platform to share regulatory enforcement action
Posted on Thursday November 10, 2016

The Bank of England (BoE) has announced plans to develop a platform that could increase the transparency of regulatory enforcement

Just 13% of brokers report bridging rise
Posted on Thursday November 10, 2016

The bridging lender found that 61% of brokers felt volumes had remained the same, while 26% had not experienced a rise in volume over the last quarter. Mortgage delays and refurbishments were found...

Metro Bank supports gender neutrality
Posted on Thursday November 10, 2016

The bank will also allow customers and colleagues of the bank to choose ‘Mx’ as a title. Metro Bank is now calling on other banks to follow its lead with Danny Hamer, chief people offic...

London rent falls
Posted on Thursday November 10, 2016

The figure is down from the 0.09% growth recorded in September with London seeing a 0.11% decrease in rental growth. This weighed down the rest of England, which recorded a 0.15% rental growth duri...

SMEs to contribute £217bn to UK economy by 2020
Posted on Thursday November 10, 2016

The research, which was conducted in collaboration with Centre for Economics and Business Research (CEBR), found that contributions to the economy will grow by 11% between 2015 to 2020. London cont...

5,000 payday complaints made to FOS
Posted on Thursday November 10, 2016

The Financial Ombudsman Service (FOS) has revealed that it received over 5,000 complaints in regards to payday loans between April and September 2016

Brightstar enters unsecured market
Posted on Thursday November 10, 2016

Specialist distributor Brightstar Financial has announced a partnership with DotBroker, part of The Financial Media Group (FMG), to provide access to a wide range of unsecured loan products

Trump victory to have ‘positive impact’ on London property market
Posted on Wednesday November 09, 2016

London Central Portfolio expects investors to “retrench to blue-chip tangible assets as uncertainty on the political and economic stage is heightened once again”. Lauren Kemp, senior ma...

Network reaches £8.7m turnover
Posted on Wednesday November 09, 2016

The Right Mortgage & Protection Network has announced a first, full-year turnover of more than £8.7m

Lender funds development of 350 new properties
Posted on Wednesday November 09, 2016

The residential development finance specialist provided funding for the development of 350 new properties. Zorin is backed by funds managed by MW Eaglewood and Sir John Beckwith’s Pacifi...

Halifax offers mortgage switchers £750 cashback
Posted on Wednesday November 09, 2016

The offer, which started on 7th November, runs until 2nd January 2017. As a part of this new deal, eligible mortgage customers will receive the support of a dedicated mortgage adviser. Remortgag...

Credit union enters liquidation
Posted on Tuesday November 08, 2016

Ireland-based Rush Credit Union has announced that it has entered liquidation

Second charge market defies Brexit
Posted on Tuesday November 08, 2016

New second charge business volumes have defied a potential slump in the wake of the EU referendum

59% of lenders believe seven-day mortgage switching is ‘bad idea’
Posted on Tuesday November 08, 2016

The remortgage market is set to improve despite fears raised regarding seven-day mortgage switching

RBS sets aside £400m ahead of SME fee refunds
Posted on Tuesday November 08, 2016

The bank has launched the process with the agreement of the Financial Conduct Authority (FCA) after it reviewed the treatment of RBS SME customers impacted by GRG between 2008 and 2013. The new com...

SimplyBiz: Processes, not predictions, are the key to assessing creditworthiness
Posted on Tuesday November 08, 2016

Although it’s not traditional to receive gifts for Halloween, I know a few of you were hoping to find crystal balls in your trick and treat stash this year to help you navigate the Financial Conduct Authority’s (FCA) rules on creditworthiness and, in particular, affordability

Landlords voice concerns over ‘rushed’ digital tax plans
Posted on Tuesday November 08, 2016

The Residential Landlords Association (RLA) has voiced concerns that plans to digitise tax payments are being rushed without proper consideration

Bridging lender completes its largest ever loan
Posted on Tuesday November 08, 2016

The deal comes after Hope saw its lending grow by 50% during the first half of 2016 and surpasses its previous record loan of £3.9m for a student residential scheme.  Hope were introduce...

Mint rescues client from bankruptcy petition
Posted on Tuesday November 08, 2016

The lender’s client was an experienced entrepreneur, but made the mistake of leaving one of his companies in the hands of two fellow directors.  They caused the business to run up an &po...

Housing transactions set to plummet by 16%
Posted on Tuesday November 08, 2016

Property expert Savills has warned that economic uncertainty could cause housing transactions to drop from 1.25 million in 2016 to just 1.04 million by 2018. Of these, buy-to-let (BTL) investors ar...

Head of Project Finance named
Posted on Tuesday November 08, 2016

The Infrastructure and Projects Authority (IPA) also revealed that Mr Vickerstaff would be taking up the role as its new deputy chief executive officer. Mr Vickerstaff joins after spending over 10 ...

Aldermore director to step down in 2017
Posted on Tuesday November 08, 2016

Glyn will leave Aldermore on 6th February 2017 after deciding to step down following a review of his time commitments after his appointment as non-executive chairman of Old Mutual Wealth. Aldermore...

FCA targets unauthorised adviser
Posted on Tuesday November 08, 2016

The Financial Conduct Authority (FCA) has issued a warning regarding a financial adviser which it believes has been carrying out activities without its authorisation

Keystone cuts BTL rates
Posted on Tuesday November 08, 2016

Lender Keystone Property Finance has announced reductions to its buy-to-let (BTL) rates and changes to its criteria

Lodders appoints equity partner to real estate team
Posted on Tuesday November 08, 2016

Law firm Lodders has recruited a new equity partner to its expanding real estate team

Shuttle reveals digital document signing feature
Posted on Tuesday November 08, 2016

The RBS-backed fintech start-up has released its latest version of its SaaS onboarding solution, whereby for the first time brokers can use a single platform to gather all documents, including legally...

V Loans pulls out of second charge market
Posted on Tuesday November 08, 2016

Second charge master broker V Loans has just announced it has withdrawn from the second charge and bridging markets

Roma appoints trio of BDMs
Posted on Tuesday November 08, 2016

Steve Smith, Dave Bibby and Tom Gill have all joined the bridging and development lender.  Steve will cover the South West and has 20 years of experience in retail and commercial banking, wher...

Challenger bank posts £1.6m loss
Posted on Tuesday November 08, 2016

The challenger bank received its banking licence in August this year after forming in February 2015.  Releasing its first annual results last week, which are for the period ending 29th Februar...

P2P criteria could become stricter due to matchmaking tool, warns lender
Posted on Tuesday November 08, 2016

Earlier this month, Philip Hammond, chancellor of the exchequer, launched a new matchmaking tool to refer loans rejected by nine of the UK’s biggest banks to alternative finance platforms. Ho...

Crowd2Fund’s Innovative Finance Isa: Six months on
Posted on Tuesday November 08, 2016

Here, it explains to Bridging & Commercial how the launch of the IFIsa has impacted Crowd2Fund and those who have invested in it. What is the Innovative Finance Isa?  Investors continue...

Bridging funding launches exclusive Movember offer
Posted on Tuesday November 08, 2016

The bridging lender is offering Bridging & Commercial readers rates of under 1% per month on all loans issued in November when the borrower or broker quotes “B&C” when applying. ...

Five lenders join new direct second charge panel
Posted on Monday November 07, 2016

Adviser group Tenet has launched a direct to lender second charge mortgage panel as it looks to give advisers more control over the advice process

Property firm forced to remove misleading advert
Posted on Monday November 07, 2016

The Advertising Standards Authority (ASA) has told Camborne Properties to remove an advert after it was deemed to have breached its code of practice

No bridging lenders have applied for authorisation since Brexit vote
Posted on Monday November 07, 2016

A freedom of information request submitted by Bridging & Commercial in September found that although 10 bridging lenders have applied for authorisation since November 2015, none of these came afte...

SME lender launches in the UK
Posted on Monday November 07, 2016

The online lender, which launched two years ago, provides credit lines and business loans to SMEs using a unique, proprietary credit algorithm which gives a deep insight into the financial condition o...

Scott Marshall wins entrepreneurial award
Posted on Monday November 07, 2016

The awards recognise achievements by individuals who have demonstrated innovation, determination and proven results for their company. Since its launch, Scott has helped Roma become a strong player...

The Mortgage Lender partners with John Charcol
Posted on Monday November 07, 2016

The Mortgage Lender (TML) has announced it has teamed up with mortgage broker John Charcol

Bank withdraws licence after regulatory changes
Posted on Monday November 07, 2016

Creators of First Global Trust Bank PLC, Gordian Knot, received confirmation that the bank had been granted authorisation with a restricted licence by the PRA in April 2016. However, in October, Go...

Inflation rise could impact build costs, warns lender
Posted on Monday November 07, 2016

Last week, the National Institute for Economic and Social Research (NIESR) predicted that consumer price inflation will grow to 4% in the second half of 2017. Sam Howard, COO of Regentsmead, has no...

A guide to MiFID II
Posted on Monday November 07, 2016

To help understand what changes MiFID II is likely to have on the financial market, Bridging & Commercial has produced a guide as to what to expect. What is MiFID? MiFID, otherwise known as ...

Two banks revealed in FCA sandbox list
Posted on Monday November 07, 2016

Launched as part of Project Innovate, the sandbox allows businesses to safely test products, services or business models in a live environment. The news comes less than a week after Bridging & ...

Borro closes first regulated property loan
Posted on Friday November 04, 2016

The £568,750 loan was secured against the main UK residence of a non-dom client who wanted to expand his property portfolio. Sunny Panwar from Kind Commercial referred the loan to Borro after...

NACFB Gala Dinner: Winners revealed
Posted on Friday November 04, 2016

The Association once again held the ceremony at the Park Plaza Westminster Bridge Hotel in London, which was attended by 750 guests. Adam Tyler, the chief executive of the NACFB, was hosting his la...

FCA begins adopting CMA recommendations from retail banking investigation
Posted on Thursday November 03, 2016

The FCA has highlighted four areas that it wishes to address: Overdrafts At the CMA’s recommendation, the FCA will research, test and implement new changes to increase consumers’ eng...

CMA approves three financial firm mergers
Posted on Thursday November 03, 2016

The Competition and Markets Authority (CMA) has revealed that it has reviewed seven mergers involving financial firms during 2016, of which three have been approved

25% of millennials would use robo-advisers
Posted on Thursday November 03, 2016

A new survey has found that one in four people aged between 18 and 35 would be happy or very happy to use a robo-advice service when taking out a mortgage

Synergy Commercial Finance: One year on
Posted on Thursday November 03, 2016

This time 12 months ago we were busy preparing to attend our first Finance Professional Show (FP Show)

Commercial lender enters Sharia-compliant market
Posted on Thursday November 03, 2016

Last month, Bridging & Commercial reported that Brexit would present an “opportunity” for Islamic finance by increasing engagement with developing Islamic markets.  Ortus revea...

Central Trust recruits regulatory consultant to board
Posted on Thursday November 03, 2016

Central Trust has announced the appointment of a regulatory consultant to its board of directors

FCA spends £1.8m on Project Innovate
Posted on Thursday November 03, 2016

Following a freedom of information request from Bridging & Commercial, the FCA stated that of the £1.67m spent on total staff costs for Project Innovate, only £90,184 had gone towards ...

55% of British banks set up Brexit steering committees
Posted on Thursday November 03, 2016

Figures released by financial services consultant Synechron Inc found that 55% of British banks had launched their own committee to discuss, among other issues, the possibility of relocation. This ...

Shawbrook breaks £4bn lending milestone
Posted on Thursday November 03, 2016

In a third-quarter statement, the group revealed that its net loans and advances had risen 19% to over £4bn, up from the £3.4bn total it reached on 31st December 2015. Meanwhile, gross ...

SME advisers spend £32,000 on regulation
Posted on Thursday November 03, 2016

The Association of Professional Financial Advisers (APFA) has estimated that on average, SME firms (revenues less than £1m) spent £32,000 on the direct and indirect costs of regulation during 2015

OneSavings Bank chairman to resign
Posted on Wednesday November 02, 2016

Mr Fairey will step down from the role of chairman at the 2017 annual general meeting as he looks to scale down his business commitments. OneSavings Bank also revealed that Dr David Morgan would al...

Challenger bank snaps up £60m mortgage portfolio
Posted on Wednesday November 02, 2016

The challenger bank completed the purchase of the portfolio worth around £60m on October 31st. The mortgages are predominately owner-occupied and well diversified across the UK. The news c...

Inflation set to hit 4% in 2017
Posted on Wednesday November 02, 2016

The leading think tank believes that the increase will have an “impact on real disposable income”. Last month, the Office for National Statistics revealed that inflation rose by 1% in t...

Fluent joins Intrinsic’s specialist broker panel
Posted on Wednesday November 02, 2016

Second charge distributor Fluent for Advisers has joined Intrinsic’s specialist broker panel

TFC reaches £1bn of enquiries through sourcing system
Posted on Wednesday November 02, 2016

Distributor TFC Homeloans has received over £1bn worth of enquiries through its sourcing system CaseBldr

Accountancy firm acquires adviser
Posted on Wednesday November 02, 2016

London accountants Carter Backer Winter LLP (CBW) has completed the acquisition of Edwards Financial Services for an undisclosed sum

Bright Compare launches mortgage comparison website
Posted on Wednesday November 02, 2016

Sheffield-based finance lead generation firm Bright Compare has announced the launch of a comparison website

House prices stall in October
Posted on Wednesday November 02, 2016

It was also found that annual house-price growth slowed to 4.6% in October, from 5.3% in September. Robert Gardner, Nationwide's chief economist, said: “While the economic outlook is unce...

Two firms abandon banking licence applications
Posted on Wednesday November 02, 2016

Following a freedom of information request submitted by Bridging & Commercial, it was revealed that in total, eight firms made applications to the Prudential Regulation Authority (PRA) for ba...

Fortwell Capital joins CREFC Europe
Posted on Wednesday November 02, 2016

The trade association promotes transparent, liquid and sustainable commercial real estate debt markets for both its members and the wider UK and European markets. The news comes less than a month a...

Peer-to-peer returns ‘difficult to know’ until the loans mature, admits lender
Posted on Wednesday November 02, 2016

Last month, the LendIt Europe Conference heard that the new Innovative Finance Isa could boost competition and lower P2P rates. Chirag Shah, CEO of Nucleus Commercial Finance, has now warned Bridgi...

New wave of investors enter property market
Posted on Wednesday November 02, 2016

Last month, Acuitus revealed that £70.6m of commercial property assets were sold at its recent auction.  Looking for the reason behind such a high volume of sales, Acuitus felt that ther...

Hotel group reveals £43m revenue boost after plunging pound
Posted on Wednesday November 02, 2016

In a nine-month trading statement, the group stated that exchange gains were responsible for adding £43m and £7m to reported revenue and profit before tax respectively. Meanwhile, the g...

Spring Finance enters Scottish market
Posted on Wednesday November 02, 2016

Second charge mortgage specialist Spring Finance has announced it has begun lending in Scotland

Chancellor announces alternative finance matchmaking tool
Posted on Tuesday November 01, 2016

The new government scheme will see nine of the UK’s biggest banks pass on the details of small businesses they have rejected for funding to three finance platforms.  Funding Xchange, Bus...

Bridging lender confirms permanent CEO
Posted on Tuesday November 01, 2016

Tony Gilbertson has been confirmed as CEO having served on an interim basis for the past six months, during which time he oversaw Signature’s best ever half-year period. The Birmingham-based ...

NatWest reveals alternative lender panel
Posted on Tuesday November 01, 2016

Capital Connections aims to builds on NatWest’s existing partnerships to signpost small business customers to alternative sources of finance.  The panel is now entering its final launch ...

Bank selects mortgage administrator for re-entry
Posted on Tuesday November 01, 2016

Sainsbury’s Bank has selected Computershare Loan Services as its mortgage administrator ahead of its re-entry into the mortgage sector

Barwood Capital opens new property fund
Posted on Tuesday November 01, 2016

The Barwood Property Fund 2017 is a closed-ended, five-year fund focusing on commercial property. The potential size of the fund is expected to reach £150m from prime regional markets outside...

Racefields launches peer-to-peer loan finder service
Posted on Tuesday November 01, 2016

Created in the wake of a new government scheme that will see nine banks having to offer alternative finance options to failed loan applicants, as well as sourcing P2P loans for clients, Racefields wil...

FCA exposes clone lender
Posted on Tuesday November 01, 2016

The Financial Conduct Authority (FCA) has issued a warning about a firm it believes is targeting members of the public using the details of an authorised firm

CeMAP Diploma attracts strong levels of interest
Posted on Tuesday November 01, 2016

The new CeMAP Diploma has received strong levels of interest in the mortgage market, Loan Talk has been told

Second charge sourcing systems should be ‘forced’ to show broker fees upfront
Posted on Tuesday November 01, 2016

Second charge mortgage master brokers should be forced to show all fees, according to one industry figure

Let lessons of the past help to protect your future
Posted on Tuesday November 01, 2016

There’s a well-known adage that says if you give a man a fish, you will feed him for a day, but if you teach him to fish, you will feed him for life

Private fund on the lookout for bridging lenders
Posted on Monday October 31, 2016

The fund is set to back experienced bridging lenders, SME lenders, asset-backed lenders and consumer lenders that are looking to grow their loan book.  The update follows news since the EU ref...

Ex-Aldermore director joins peer-to-peer lender
Posted on Monday October 31, 2016

Damon Walford joins from NuFi Ltd where he was managing director but before that he spent four years as the managing director of Aldermore Invoice Finance having previously worked at RBS Invoice Finan...

New peer-to-peer lender to launch next year
Posted on Monday October 31, 2016

It will be the first personal peer-to-peer lending platform in Ireland and is set to create 25 jobs over the next three years. Initiative Ireland is teaming up with the Employment and Investment In...

Treasury Committee welcomes review of FSCS
Posted on Monday October 31, 2016

In a series of correspondence between Mr Tyrie and FCA chief executive Andrew Bailey, the Treasury Committee chairman asked whether a review of the FSCS had begun, what it would cover and when it woul...

Company insolvency rates increase by 2.2%
Posted on Monday October 31, 2016

It was found that an estimated 3,633 companies entered insolvency in Q3 2016, 2.2% higher than Q2 and 1.1% higher than the same period last year. The number of companies subject to compulsory liqui...

FCA targets unauthorised adviser
Posted on Monday October 31, 2016

The Financial Conduct Authority (FCA) has issued a warning over an unauthorised mergers and acquisitions adviser from the United States

Properly conducted unregulated bridging should remain unregulated, says lender
Posted on Monday October 31, 2016

Last week, the FCA announced it would be clamping down on unregulated activities¸ which had the potential to undermine confidence in the UK financial system. The regulator also said it would ...

Shawbrook completes £3m semi-commercial loan
Posted on Monday October 31, 2016

The challenger bank provided a large semi-commercial loan of £3m at 69% LTV over 30 years for the eight properties in Nottingham. The portfolio was made up of six HMOs and two semi-commercial...

Ultimate Finance funds craft beer start-up
Posted on Monday October 31, 2016

The lender provided a £150,000 funding line to the firm after the start-up secured contracts to be the sole UK distributor for certain American breweries. The funding was required as the firm...

Lenders must devote time to social media to get it right
Posted on Monday October 31, 2016

This comes after IRESS reported that just 52% of lenders were currently either active on or considering using Twitter, compared with 90% in 2014. Henry Woodcook, principal mortgage consultant at IR...

Housebuilding funds are good news but beware of the risks
Posted on Monday October 31, 2016

Speaking at the Conservative Party conference, communities secretary Sajid Javid, and chancellor Philip Hammond said the scheme could deliver an extra 15,000 homes by 2020. At the same conference, the...

Adam Tyler to stand down from NACFB
Posted on Friday October 28, 2016

Adam Tyler joined the Association in 2005 when it had just one member of staff looking after 400 members and 48 patrons. During his 11 years with the Association, Adam made a major contribution to ...

Barclays signs major venture debt agreement
Posted on Friday October 28, 2016

The bank signed a £1.5m money market loan to London-based software business Kimble to provide the business with working capital for future growth. The agreement was signed atop the 138m-high ...

RBS posts £469m loss
Posted on Friday October 28, 2016

The bank said the losses included restructuring costs of £469m, litigation and conduct costs of £425m and a £300m deferred tax asset write down. RBS reported an operating profit o...

Alternative Bridging raises £500 for charity
Posted on Friday October 28, 2016

Staff dressed in pink and decorated the office with balloons and banners to celebrate ‘Wear It Pink Day’, while at lunch only pink food was consumed. The Alternative team also celebrate...

Treasury adds crowd bonds to Innovative Finance Isa
Posted on Friday October 28, 2016

From 1st November 2016, investors will be able to lend to UK businesses via bonds secured against the firm’s operational assets. The news comes just months after Bridging & Commercial was...

Packager completes £750k of seconds in one day
Posted on Friday October 28, 2016

Packager Chaseblue Loans is expecting a record month for October having completed over £750,000 worth of second charge mortgage deals with specialist lender Together in just one day

Commercial lender announces £40m fund for NI
Posted on Thursday October 27, 2016

The lender launched in Northern Ireland in April with a £300m pot of funding for SMEs in the region.  So far Capitalflow has advanced £45m in facilities to a wide range of SMEs as ...

City minister to fight for UK fintech in Brexit deal
Posted on Thursday October 27, 2016

Speaking at the Tech & Fintech Expo in London on 25th October, Mr Kirby claimed that the government would attempt to secure the trade deals and skilled workforce necessary for the UK to remain a w...

Footballers promote affordable housing scheme
Posted on Thursday October 27, 2016

Rio Ferdinand, Mark Noble and Bobby Zamora are all part of the Legacy Foundation, which combines residential, sport and community-led development, while also delivering schemes which have up to 50% af...

Andrew Tyrie: FCA mission provides ‘a much clearer sense of direction’
Posted on Thursday October 27, 2016

Mr Tyrie announced that the document will be discussed by the parliamentary committee with FCA CEO Andrew Bailey next month. Commenting on the consultation, Mr Tyrie said: “At a quick read it...

Treasury names new director general for financial services
Posted on Thursday October 27, 2016

Katharine Braddick will take up the role and be responsible for all issues relating to financial services, the financial system and financial stability at the Treasury. Ms Braddick replaces Charles...

New broker service launches with SPF
Posted on Thursday October 27, 2016

Property experts Swoffers has launched a new mortgage broking service in collaboration with SPF Private Clients

CPD should not be seen as ‘lip service’
Posted on Thursday October 27, 2016

Continuing professional development (CPD) is crucial for brokers and should not be seen as merely paying “lip service” to the regulator, a specialist distributor has claimed

Key Retirement names new deputy CEO
Posted on Thursday October 27, 2016

Key Retirement Group has appointed its first deputy CEO to help it achieve its growth plans

New commercial finance brokerage launches
Posted on Thursday October 27, 2016

An insolvency specialist has announced the launch of a new commercial financial brokerage division to offer a more complete service to its clients

Banking software provider scraps IPO plans
Posted on Thursday October 27, 2016

A banking software provider has announced it will no longer be proceeding with its initial public offering

P2P lender secures multi-million-pound investment
Posted on Wednesday October 26, 2016

Edinburgh-based LendingCrowd will use the funds to invest in a number of qualifying Scottish businesses as well as private sector investors. The investment is the SIB’s first venture into the...

Exclusive: Avamore appoints ex-Enterprise underwriter
Posted on Wednesday October 26, 2016

Besmir Gjini will join the short-term property finance lender after gaining several years of bridging finance experience as a broker. Besmir started his career at Enterprise Finance, where he worke...

Mergers between banks at a particular market level ‘not necessarily a bad thing’, says CMA
Posted on Wednesday October 26, 2016

The concerns come from a debate held at the Westminster Business Forum last week on the future of the retail banking market and highlighted points made by the recent investigation into the sector by t...

Falling pound restores overseas investor interest
Posted on Wednesday October 26, 2016

Since the EU referendum on 23rd June, a wave of financial uncertainty has driven the value of the pound from €1.31 to just €1.12, while the Bank of England has warned that a decline in forei...

Sharing homes, sharing cars, sharing economy
Posted on Wednesday October 26, 2016

EatAbout is an online platform which offers an alternative to traditional restaurant dining. The idea is that you eat in the chef’s home and you, along with the other guests, have a one-on-one i...

Kuflink receives full FCA authorisation for consumer BTL launch
Posted on Wednesday October 26, 2016

The short-term lender will now be offering consumer buy-to-let products alongside its current regulated and unregulated bridging activities.  Earlier this year Kuflink launched a peer-to-peer ...

Metro Bank posts maiden quarterly pre-tax profit
Posted on Wednesday October 26, 2016

It is the challenger bank’s first underlying profit since launching in 2010 and a 118% improvement on Q2’s figures where it reported a £3.4m loss.  Metro Bank, however, did r...

Fee-transparent second charge sourcing system launched
Posted on Wednesday October 26, 2016

Master broker V Loans has launched a new sourcing system which enables advisers to compare second charge and remortgage products in the residential and buy-to-let markets

FCA set to clamp down on unregulated activities
Posted on Wednesday October 26, 2016

In a newly released mission consultation paper, the regulator outlined a number of principles around which the FCA’s future strategy would be built. Among these was a plan to target any unreg...

Sale of Bradford & Bingley assets launched
Posted on Wednesday October 26, 2016

Initially announced in March 2016, the sale is designed to raise sufficient proceeds for Bradford & Bingley to repay a £15.7bn debt to the Financial Services Compensation Scheme and the corr...

CYBG confirms talks with RBS over Williams & Glyn sale
Posted on Wednesday October 26, 2016

The banking group was responding to press speculation regarding the possible acquisition of Williams & Glyn from the RBS group. CYBG PLC said it had engaged in discussions with RBS and had made...

51% of millennials would consider mortgages from challenger banks
Posted on Wednesday October 26, 2016

Only 8% would not consider using online-only challenger banks, while 41% were undecided. EDM MSS also asked respondents about their willingness to use mobile apps in mortgage applications. Some ...

New rules announced to modernise insolvency practices
Posted on Wednesday October 26, 2016

The Insolvency Service has announced new rules that will alter the way insolvency is carried out from April 2017.

Robo-adviser launches crowdfunding campaign to grow UK presence
Posted on Wednesday October 26, 2016

AdviceRobo has launched a crowdfunding campaign in a bid to expand its presence in the UK

10 questions with Amparo Burgos of Mint Bridging
Posted on Tuesday October 25, 2016

1. What does your role consist of and what roles/experience have you had in the past? My role is head of marketing at Mint Bridging. My primary duties include creating marketing strategies to promo...

Is China threatening UK fintech dominance?
Posted on Tuesday October 25, 2016

In collaboration with fintech investment firm H2 Ventures, KPMG has found that the UK has 13 companies in the latest top 100 list, down from 18 in 2015. An increase in global competition was also o...

FCA to tackle regulation in commercial finance at FP Show
Posted on Tuesday October 25, 2016

The Financial Conduct Authority (FCA) will tackle the subject of regulation within the commercial finance market at the 2016 Finance Professional Show.  The news comes as the Finance Professio...

Omni Capital Retail Finance granted FCA authorisation
Posted on Tuesday October 25, 2016

The Watford-based lender, which recently launched a division for the marine sector, can continue to provide its partners with a range of regulated finance products now it has been granted full authori...

L&G completes £175m refinance
Posted on Tuesday October 25, 2016

Property investor and developer Arora Group has secured a £175m loan by refinancing its debt with Legal & General Investment Management Real Assets (LGIM Real Assets)

FCA to tackle regulation in commercial finance at FP Show
Posted on Tuesday October 25, 2016

The Financial Conduct Authority (FCA) will tackle the subject of regulation within the commercial finance market at the 2016 Finance Professional Show

Omni Capital Retail Finance granted FCA authorisation
Posted on Tuesday October 25, 2016

Specialist consumer finance lender Omni Capital Retail Finance has secured full Financial Conduct Authority (FCA) authorisation

FCA to tackle regulation in commercial finance at FP Show
Posted on Tuesday October 25, 2016

The Financial Conduct Authority (FCA) will tackle the subject of regulation within the commercial finance market at the 2016 Finance Professional Show

Debt management firm to be sold for £222m
Posted on Tuesday October 25, 2016

3i Group has agreed to the sale of its debt management business to Investcorp, which is expected to generate £222m for the firm

Rental housing supply hits 18-month high
Posted on Tuesday October 25, 2016

The number of rental properties managed per letting agent branch is at the highest level for 18 months

85% of remortgagors lowered rates in September
Posted on Tuesday October 25, 2016

Some 85% of remortgagors were able to lower their mortgage rate during September, according to new data from conveyancing panel management specialist LMS

NLA withdraws support for Homelessness Reduction Bill
Posted on Tuesday October 25, 2016

The National Landlords Association (NLA) has withdrawn its support for a new homelessness reduction bill amid allegations that it now includes “damaging” policy amendments

Distributor issues over £500m of terms in successive quarters
Posted on Tuesday October 25, 2016

Crystal Specialist Finance has surpassed the half a billion issued terms mark for the second successive quarter

Challenger bank granted licence after name change
Posted on Monday October 24, 2016

According to Companies House, BFC Exchange Limited, which has been operating in the UK since 2003, will now be known as BFC Bank Limited.  Last week, BFC Bank received authorisation from the P...

New talent is ‘invaluable’ to challenger banks
Posted on Monday October 24, 2016

Earlier this month, Lloyds Banking Group (LBG) came under fire over its decision to cut 1,340 bank staff. Now, with a well-established trend of challenger banks hiring staff from mainstream institu...

BoE: ‘Regulators cannot police every market practice’
Posted on Monday October 24, 2016

In a panel discussion at the Federal Reserve Bank of New York on 20th October, Minouche Shafik suggested that a combination of regulation and legislation, or ‘hard law’, and standards set ...

£70m of commercial property sold at auction
Posted on Monday October 24, 2016

The commercial property auctioneer has raised over £310m from five sales during 2016 as investors look into the income returns and development opportunities in the sector. Acuitus’ Octo...

MFS provides £2.75m bridge for mansion acquisition
Posted on Monday October 24, 2016

The client approached MFS for help in acquiring a property complete with just under 100 acres of landscaped gardens, a swimming pool and a tennis court. The market value of the property was £...

Shawbrook welcomes three graduates to development programme
Posted on Monday October 24, 2016

The challenger bank launched its graduate scheme in the summer of 2016 in the hope of attracting the “Shawbrook employees of tomorrow”. The graduates will go through a two-year rotation...

440,000 landlords face tax hike
Posted on Monday October 24, 2016

Some 440,000 landlords who pay the basic rate of tax will be forced into a higher tax bracket from April 2017, the National Landlords Association (NLA) has warned

Law firm merges with debt recovery specialist
Posted on Monday October 24, 2016

MKB Law has announced it has expanded its practice by merging with a debt recovery specialist

Canadian P2P software firm enters UK market
Posted on Monday October 24, 2016

The Canadian firm has partnered with innovative payments company Mangopay to bring a compliant P2P lending solution to the UK market. Katipult’s P2P lending software facilitates the entire in...

Wales to maintain 3% stamp duty for additional homes
Posted on Monday October 24, 2016

In an announcement, finance secretary Mark Drakeford confirmed that the 3% tax rate on additional residential properties will continue to be applied in Wales, even after stamp duty land tax is devolve...

Alasdair Smith defends CMA retail banking report
Posted on Monday October 24, 2016

Speaking at the Beesley Lecture in London’s Pall Mall, Professor Alasdair Smith responded to criticism following a raft of proposals designed to make banks work harder for their customers.  ...

Commercial lender posts new business surge ahead of bank launch
Posted on Monday October 24, 2016

The commercial lender submitted a formal application for a banking licence back in June after revealing that its profits before tax were up 67%. Private & Commercial has now reported that new b...

Prime commercial rental values on the rise despite Brexit uncertainty
Posted on Friday October 21, 2016

Rental values for UK prime commercial property increased by 0.6% in the third quarter on 2016, according to CBRE’s latest Prime Rent and Yield Monitor

Major banks hit back at online security criticism
Posted on Friday October 21, 2016

On 20th October, consumer body Which? published research alleging that out of 11 high street banks, only five had adopted two-factor authentication at login. Which? alleged that Halifax (and Bank o...

Together launches five-year fixed BTL
Posted on Friday October 21, 2016

Earlier this year, Together celebrated completing a record number of BTL deals during June. The firm now hopes to meet the growing demand for BTL mortgages, while enabling both landlords and proper...

Lender posts revenue growth after listing on stock market
Posted on Friday October 21, 2016

Morses Club PLC has revealed revenue has grown 8% to £47.2m during the first half of 2016

Bank to re-enter UK market
Posted on Friday October 21, 2016

Yolt will allow users to manage their money with different banks for different financial services all in one place. ING has only held a wholesale banking operation in the UK since the sale of ING D...

Prime commercial rental values on the rise despite Brexit uncertainty
Posted on Friday October 21, 2016

Such a rise was achieved despite the “uncertain political and economic landscape” following the EU referendum result. However, capital values for commercial property fell by 0.2%, cause...

Ingard adds Funding 365 to bridging panel
Posted on Friday October 21, 2016

The London-based bridging lender will provide Ingard’s brokers with bridging products for buy-to-let, commercial and development properties. Loans start from £100,000 to £5m plus,...

ERCs spark over 500 complaints
Posted on Thursday October 20, 2016

From 1st August 2015 to 31st July this year, the FOS received 508 new cases regarding early repayment charges. The FOS also told B&C that during the same period, it upheld 21% of resolved cases...

Challenger bank names new chairman
Posted on Thursday October 20, 2016

Sir Henry will remain a non-executive director as well as chairman of Secure Trust’s remuneration committee. In his 35 years at Secure Trust, Sir Henry has helped develop the bank from a &pou...

Welsh commercial law firm joins Hugh James
Posted on Thursday October 20, 2016

A commercial property law firm has partnered with a top-100 property and financial law specialist

Fraud detection firm secures £3m investment
Posted on Thursday October 20, 2016

Fraud-detection specialist Ravelin has successfully completed a £3m round of investment funding

Scottish businesses concerned over second referendum
Posted on Thursday October 20, 2016

A survey of Scottish business leaders has found 81% believe that a second independence referendum would have a negative effect on businesses in the region

Bristol office market set for strong year
Posted on Thursday October 20, 2016

Office take-up in Bristol has already surpassed last year’s total, according to property consultancy JLL

Lloyds Bank waives arrangement fees for SMEs
Posted on Thursday October 20, 2016

The offer applies to small businesses who are planning to borrow up to £150,000, which means they could save £300 on a £20,000 loan. With the savings, companies can instead use th...

FCA targets unauthorised lender
Posted on Thursday October 20, 2016

The Financial Conduct Authority (FCA) has issued a warning over an unauthorised lender which is using the details of an authorised firm

UK tax gap falls to lowest ever level
Posted on Thursday October 20, 2016

A crackdown on tax dodging reduced the UK’s tax gap to its lowest ever level during 2014-15, according to a new report from HM Revenue & Customs (HMRC)

FCA warns banks to improve complaints handling
Posted on Thursday October 20, 2016

Despite introducing new rules on packaged bank accounts in 2013, a recent FCA review found that too many customers who have complained about being mis-sold packaged bank accounts in late 2014 did not ...

Gross mortgage lending down 7%
Posted on Thursday October 20, 2016

This figure was 2% higher than the £20.1bn lent in September 2015, but less than the total lending for August 2016 (£22.1bn). Gross mortgage lending for the third quarter of 2016 was es...

Property named biggest cost for SME start-ups
Posted on Thursday October 20, 2016

Lloyds reported that the average cost of starting a new business is £12,601. Property was the biggest contributor to these costs, accounting for 25% of the total. Transport and IT came sec...

AOBP reveals date for AGM
Posted on Wednesday October 19, 2016

Taking place at the May Fair Hotel in London on Thursday 24th November between 3.30-8pm, the AGM will focus on the state of the market given recent regulation changes and the EU referendum result. ...

AOBP reveals date for AGM
Posted on Wednesday October 19, 2016

The Association of Bridging Professionals (AOBP) has announced details of its 2016 AGM

AOBP reveals date for AGM
Posted on Wednesday October 19, 2016

The Association of Bridging Professionals (AOBP) has announced details of its 2016 AGM

Short-term lender funds £50m in one week
Posted on Wednesday October 19, 2016

The largest was £30m for a new development scheme in the London borough of Hackney.  Three of the transactions – for £5.6m, £4.4m and £4.2m –were used for s...

Specialist lender granted FCA authorisation
Posted on Wednesday October 19, 2016

Borro has operated under interim permission for over two years, although the firm secured permission to enter into the regulated bridging market last month. The announcement comes just weeks after ...

Shawbrook announces record-breaking quarter for commercial mortgages
Posted on Wednesday October 19, 2016

The challenger bank’s third quarter was its most successful to date in terms of completions, while September was Shawbrook’s second most successful month in terms of originations. The r...

UTB recruits ex-Barclays manager for northern push
Posted on Wednesday October 19, 2016

Steve Grant joins from Barclays Bank, where he was a senior real estate manager for multi-million-pound property funding deals in the North West and north Wales.  UTB hopes that Steve will boo...

P2P lender funds £1.5m in one hour
Posted on Wednesday October 19, 2016

The peer-to-peer platform provided three loans during this period, all of which were very different from each other. The first deal was a second charge loan for a large, detached rural property. ...

Challenger bank hires former Lloyds director
Posted on Wednesday October 19, 2016

Simon has 24 years of experience in asset finance and joins from Lloyds Bank where he was an associate director in corporate asset finance. Cambridge & Counties specialises in hire purchase, fi...

Bridging lending up 54%
Posted on Wednesday October 19, 2016

The quarterly publication covers the UK bridging finance market and is produced by specialist finance companies MTF, Brightstar Financial, Enness Private Clients, Positive Lending and S...

New CeMAP qualification launched
Posted on Wednesday October 19, 2016

Mortgage advisers will now be able to take a new higher-level qualification if they wish to enhance their expertise

IFA acquired by wealth manager
Posted on Wednesday October 19, 2016

Wealth manager The Private Office (TPO) has announced the acquisition of independent advice firm PQR Financial Planning

Amicus appoints three directors after submitting banking licence application
Posted on Tuesday October 18, 2016

The firm intends to convert £30m of the debt currently used to fund its lending activities into equity in order to form the capital base of the bank’s operations. Amicus hopes that the ...

Law firm advises on sale of £229m London site
Posted on Tuesday October 18, 2016

Mishcon de Reya has advised a private investor on the sale of 120 Holborn to a Singaporean investor

Platform Black amend prices to boost SME funding
Posted on Tuesday October 18, 2016

Under the new initiative, businesses can request funding at a fixed price that is agreed up front, while funders will be able to offer finance with full knowledge of the return they will receive. T...

Over 100 brokers to attend Shawbrook’s annual Broker Partner Day series
Posted on Tuesday October 18, 2016

Since its launch in 2012, brokers have been able to hear about the current state of the market, from the niche areas to broader economic topics, at these events. There will be an opening presentati...

Mint appoints new head of marketing
Posted on Tuesday October 18, 2016

Amparo Burgos brings 15 years of experience to Mint, having worked for and with companies in China, North America and Europe. Prior to Mint, Amparo served as the marketing director of the Economic ...

FOS receives over 6,500 affordability complaints
Posted on Tuesday October 18, 2016

Over the past year, 6,968 complaints were made to the Financial Ombudsman Service (FOS) regarding affordability

A guide to why second charge advisers need to be fully CeMAP qualified
Posted on Tuesday October 18, 2016

A financial adviser has declared that it is “imperative” for all second charge mortgage advisers to be adequately qualified

Satsuma Loans predicted to make loss
Posted on Tuesday October 18, 2016

Weekly instalment lender Satsuma Loans is expected to make a small loss for the year

allpay partners with security council
Posted on Tuesday October 18, 2016

Payments services specialist allpay Limited has announced a partnership with the PCI Security Standards Council to improve data security worldwide

SimplyBiz: Staying sane in business bedlam
Posted on Tuesday October 18, 2016

Albert Einstein once, very sanely, stated that the definition of insanity was doing the same thing again and again and expecting different results

Innovative Finance Isa could double peer-to-peer funding
Posted on Monday October 17, 2016

A debate at this week’s LendIt Europe Conference at the InterContinental O2 looked at the future of the small business finance market and the role marketplace lenders played within it. The de...

Clever Lending partners with Paradigm
Posted on Monday October 17, 2016

Clever Lending has become a lending partner for Paradigm Mortgage Services’ specialist lending panel

Former minister urges government to alter CCJ laws
Posted on Monday October 17, 2016

A British peer has called upon the government to take action against companies that issue county court judgements (CCJs) without giving the recipient a chance to defend themselves

129-year-old law firm announces merger
Posted on Monday October 17, 2016

Eatons Solicitors has merged with Weatherhead and Butcher Solicitors in order to expand its West Yorkshire presence

FCA grants P2P lender full authorisation
Posted on Monday October 17, 2016

The announcement follows an almost year-long review process, with the firm having submitted its application in October 2015.  Nick Harding, founder and CEO of Lending Works, said: “This ...

A peer-to-peer compensation scheme could encourage bad behaviour
Posted on Monday October 17, 2016

The peer-to-peer market is coming under scrutiny from the Financial Conduct Authority (FCA), who recently announced it planned to team up with University of Cambridge alternative finance experts to ca...

Commercial bank accelerates expansion plans
Posted on Monday October 17, 2016

The bank will take on new premises in Manchester to increase its presence in the North West and expects to have a further six commercial bankers in place by early 2017. In a third-quarter trading u...

Gerald Ratner to open Finance Professional Show 2016
Posted on Monday October 17, 2016

Guests will hear Gerald open the proceedings following the complimentary Breakfast Networking session in the Shawbrook Bank Conference Theatre. Back in 1991, when he was CEO of the family jewellery...

Century Capital appoints new director of sales
Posted on Monday October 17, 2016

Alex joins the bridging lender after a successful career working in the emerging markets following his graduation from University College London. After several years within the emerging markets sec...

Judges announced for Loan Talk Second Charge Mortgage Awards 2016
Posted on Monday October 17, 2016

The judging panel for the Loan Talk Second Charge Mortgage Awards 2016 has been revealed

Gerald Ratner to open Finance Professional Show 2016
Posted on Monday October 17, 2016

The Finance Professional Show 2016 has announced that Gerald Ratner will be the keynote speaker at this year’s event

Gerald Ratner to open Finance Professional Show 2016
Posted on Monday October 17, 2016

The Finance Professional Show 2016 has announced that Gerald Ratner will be the keynote speaker at this year’s event

Metro Bank opens Clapham store
Posted on Friday October 14, 2016

The branch is the bank’s 44th to open since its 2010 launch and has created 25 new jobs for the Clapham community. To celebrate the launch, Metro Bank has invited local residents to take part...

Cuts to over 1,000 bank jobs branded ‘horrific’ by Union
Posted on Thursday October 13, 2016

On Wednesday, LBG issued a statement that revealed plans to cut 1,340 jobs as part of the 9,000 role reductions announced in October 2014. Rob MacGregor, national officer at Unite, Britain’s ...

Prestige launches consumer BTL offering
Posted on Thursday October 13, 2016

Second charge lender Prestige Finance has brought a consumer buy-to-let offering to market to complement its existing suite of buy-to-let products

FCA cancels lender’s interim permission and bans director
Posted on Thursday October 13, 2016

The Financial Conduct Authority (FCA) has cancelled a payday lender’s interim permission and banned its director due to a lack of “integrity and competence”

Financial adviser to float on AIM
Posted on Thursday October 13, 2016

Ascot Lloyd has announced it will be launching on to the Alternative Investment Market (AIM) of the London Stock Exchange

LendInvest appoints new VP of compliance
Posted on Thursday October 13, 2016

Having previously worked at Cabot Credit Management for 10 years – initially as legal counsel, then head of legal and regulatory affairs – Willem has extensive experience in compliance. ...

Ying Tan: Does BTL need to take a page out of bridging’s book?
Posted on Thursday October 13, 2016

It’s a useful product, it helps investors to have profitable businesses and build portfolios, it’s a much more bespoke product than mainstream residential mortgages and it has a bad reputation

Watchdog dismisses ‘sexist’ complaint against law firm
Posted on Thursday October 13, 2016

A Dorset-based law firm has had its advert, which was claimed to be ‘sexist’, approved by the advertising watchdog

Fintech group launches loan comparison site
Posted on Thursday October 13, 2016

Fintech specialist Quint Group has launched a new comparison site to offer consumers a wider range of loan and credit products

67% expect house prices to rise next year
Posted on Thursday October 13, 2016

House prices are expected to continue to rise next year, but will do so at a much slower rate of growth than in previous years, according to one finance specialist

Commercial lender rolls out £90m fund
Posted on Wednesday October 12, 2016

Vulture Funds are known as international venture funds who buy assets at low prices and then sell a few years later when the market recovers.   Finance Ireland will provide property owners wit...

Catalyst smashes £300m lending target
Posted on Wednesday October 12, 2016

While the funding milestone of £300m was targeted this year, the business financier had already hit the £260m mark six months into 2016 when it reported a 35% rise in funding to SMEs. T...

Pulling out of deals deemed biggest post-Brexit issue for commercial market
Posted on Wednesday October 12, 2016

In August, real estate adviser Savills reported that commercial property activity fell by 18% during July, while last week the Bank of England warned that the commercial real estate market could exper...

FP Show launches CPD-accredited Education Hub
Posted on Wednesday October 12, 2016

On 9th November 2016, those attending the fourth annual Finance Professional Show will have the chance to visit the brand new Education Hub that will host informative sessions throughout the day. T...

ThinCats set to pass £200m landmark
Posted on Wednesday October 12, 2016

The peer-to-peer lender was founded in 2010 and has since helped SMEs to bridge the shortfall in available finance. The news follows ThinCats recent launch of its new two-tiered grading system for ...

FP Show launches CPD-accredited Education Hub
Posted on Wednesday October 12, 2016

The Finance Professional Show, in association with MyNACFB, will be offering CPD accreditation for the very first time

FP Show launches CPD-accredited Education Hub
Posted on Wednesday October 12, 2016

The Finance Professional Show, in association with MyNACFB, will be offering CPD accreditation for the very first time

FCA fines bank £3.25m and restricts deposits
Posted on Wednesday October 12, 2016

SBUK were fined £3.25m and have been prevented from accepting deposits from new customers for 168 days.  The regulator issued the punishment after it found the bank had failed to maintai...

Alternative Bridging appoints ex-Oblix BDM
Posted on Wednesday October 12, 2016

Steve joins from Oblix Capital, where he served as senior BDM for the Northern and Midlands regions. Steve previously worked at Bridgebank Capital, as head of sales, Nationwide Building Society and...

Islamic bank partners with mortgage adviser
Posted on Wednesday October 12, 2016

The announcement follows a reported 55% week-on-week increase in mortgage enquiries received by deVere since the EU referendum. The majority of applications came from expats living in areas such as...

Together expands Right to Buy offering
Posted on Wednesday October 12, 2016

The scheme initially only applied to council properties, but now housing association tenants across 23 local authorities will be eligible, as well as tenants who have lived in the property for 10 year...

Challenger bank lists on LSE main market
Posted on Wednesday October 12, 2016

Secure Trust Bank has announced it has been admitted to trade on the London Stock Exchange’s main market

BTL product availability down 5%
Posted on Wednesday October 12, 2016

The number of buy-to-let (BTL) mortgage products available has fallen for the first time since 2013, according to research in the Mortgages for Business: Complex Buy to Let Index

LendInvest cuts rates on vanilla bridging
Posted on Tuesday October 11, 2016

The cuts apply specifically to simple, vanilla residential bridging loans (tier 1), which have been reduced by 11 basis points per month across the full range. Tier 2 cases, including houses in mul...

Second charge lending snaps back in August
Posted on Tuesday October 11, 2016

The value of the second charge mortgage market rose by 6% year-on-year in August, according to figures released by the Finance & Leasing Association (FLA)

FCA exposes unauthorised lender
Posted on Tuesday October 11, 2016

Consumers have been warned over a lender that the Financial Conduct Authority (FCA) believes has been operating without authorisation

£1bn UK property fund manager acquired
Posted on Tuesday October 11, 2016

Swiss Life Asset Managers has acquired Mayfair Capital Investment Management Ltd

Master broker recruits ex-Fluent BDO
Posted on Tuesday October 11, 2016

Specialist master broker Smart Money has bolstered its business development team with the appointment of Sue Bradburn

Lender posts £7.7m loss following new regulation
Posted on Tuesday October 11, 2016

Consumer credit lender Wage Day Advance Limited has revealed that the cost of becoming regulated has resulted in a post-tax loss of £7.7m for the year ending 31st December 2015

80% back second charge lenders’ affordability checks
Posted on Tuesday October 11, 2016

Second charge lenders are factoring in interest rate rises when assessing a loans’ affordability

Nottingham director to join West Brom
Posted on Tuesday October 11, 2016

Nottingham Building Society has announced that its deputy CEO and finance director will join the West Bromwich Building Society in 2017

Government to launch new financial advice service
Posted on Tuesday October 11, 2016

Government ministers have approved plans to develop a new public financial advice body

Santander partners with crowdfunding platform
Posted on Monday October 10, 2016

Santander has announced it will be teaming up with Crowdfunder to launch a new £200,000 fund for local enterprises

Challenger bank completes its largest regulated bridge
Posted on Monday October 10, 2016

The firm’s commercial mortgages division completed a £2.9m loan on its RB1 product for 12 months interest-only in order to save a client from a potential chain break. The borrower was i...

Debt manager to invest in £1.5bn secured loan portfolio
Posted on Monday October 10, 2016

Arrow Global Group has announced it has agreed to co-invest in a secured loan portfolio with a value of approximately £1.49bn

P2P lender partners with Airbnb
Posted on Monday October 10, 2016

Borrowers can now sign up to become an Airbnb host through a link on their Zopa dashboard and will receive a £50 discount on their loan if they earn £500 from Airbnb within six months, whi...

Banks ‘hesitant’ to adopt cloud technology
Posted on Monday October 10, 2016

The Treasury Committee recently called on the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) to help to prevent banks from suffering further failures and breaches of their...

Kuflink recruits ex-RBS manager
Posted on Monday October 10, 2016

Chloe Carlin joins from Royal Bank of Scotland, where she had served as a branch manager. She will be responsible for working with fellow BDM Jeff Bungar to develop new business and report directly...

Locke Lord launches Brexit app
Posted on Monday October 10, 2016

‘Brexit News’ is available for free on iOS devices via Apple’s App Store and will provide up-to-date news, analysis and commentary focusing on how Brexit may impact businesses in the...

Banking software provider to float on LSE
Posted on Monday October 10, 2016

The developer and licenser of proprietary software to banks and investment management firms is expected to be admitted to the stock exchange in early November. Misys software is used to facilitate ...

Atom Bank announces full launch
Posted on Friday October 07, 2016

The UK mobile-only bank had initially launched an invitation-only service allowing it to assess feedback and refine its app. The app is now available to download for free on both Apple iOS and Andr...

LendInvest posts 133% revenue jump
Posted on Friday October 07, 2016

The property lender saw gross revenues hit £32m for the year ending 31st March 2016, up from £14m for the previous year. Total annual lending also rose by 84%, climbing from £174m...

Mortgage adviser takes FCA decision to Upper Tribunal
Posted on Friday October 07, 2016

A mortgage adviser has referred the Financial Conduct Authority’s (FCA) decision to cancel his permission to the Upper Tribunal

Dragonfly rebrands to Octopus Property
Posted on Friday October 07, 2016

Octopus Property is the latest division of the Octopus Group, which acquired the short- and medium-term lender in late 2013. Octopus Property launched in 2009 and has to date lent over £2.2bn...

Theresa May on tax-evading advisers: ‘We’re coming after you’
Posted on Thursday October 06, 2016

Speaking at the Conservative party conference at the ICC, Birmingham, the prime minister touched on a number of points, including housebuilding workers’ rights and tax evasion. Mrs May said: ...

Bank to expand broker network this year
Posted on Thursday October 06, 2016

The lender currently has made its mortgages available through 10 independent broker firms since entering the broker market in April this year. Tesco has seen mortgage balances grow by 11.1% as they...

Fluent sets the bar for CeMAP qualification
Posted on Thursday October 06, 2016

Fluent for Advisers believes that all client-facing staff at second charge master brokers and distributors should be CeMAP qualified by now

FCA reveals rise in home finance redress payments
Posted on Thursday October 06, 2016

Home finance redress payments rose during the first half of 2016, the Financial Conduct Authority (FCA) has revealed

Two commercial law firms to merge
Posted on Thursday October 06, 2016

Commercial law firm Seddons has announced a merger with property specialist B D Laddie

FCA authorises fintech firm
Posted on Thursday October 06, 2016

Aire has announced it has become authorised and regulated in the UK by the Financial Conduct Authority (FCA)

Private rental prices surge by 2.3%
Posted on Thursday October 06, 2016

The Office for National Statistics (ONS) has revealed that private residential tenants have seen a rise in their rental prices

Brightstar partners with challenger bank
Posted on Thursday October 06, 2016

Brightstar Financial has partnered with the UK subsidiary of India’s third-largest private sector bank to increase its range of retail, corporate and buy-to-let (BTL) offerings

Bank has ‘irresponsible’ TV ad banned
Posted on Wednesday October 05, 2016

A complaint was received regarding an advert for Sainsbury’s credit cards that aired on Channel 4 and explained how a couple renovated their house using the credit card. In the advert, the co...

Precise launches Right to Buy product range
Posted on Wednesday October 05, 2016

Precise Mortgages has launched a new range of products targeting tenants who are taking advantage of the Right to Buy scheme

Signature Private Finance hires Danny Power
Posted on Wednesday October 05, 2016

Daniel has many years of experience in the bridging finance market, including time at Alternative Bridging Corporation, Mint Bridging Finance and Bridgebank Capital. Tony Gilbertson, CEO at Signatu...

FCA and Cambridge University to analyse peer-to-peer market
Posted on Wednesday October 05, 2016

The research will be conducted by the Cambridge Centre for Alternative Finance (CCAF) at Cambridge Judge Business School. The CCAF claims to have the world’s largest online alternative financ...

FCA proposes new pension transaction cost transparency
Posted on Wednesday October 05, 2016

The Financial Conduct Authority (FCA) has proposed new rules and guidelines intended to standardise the disclosure of the transaction costs incurred by pension investments

Shawbrook backs SME lender
Posted on Wednesday October 05, 2016

The challenger bank was joined by a number of undisclosed lenders in raising iwoca’s available debt facilities to £40m. The investment will be used to develop iwoca’s technology p...

Brexit ‘an opportunity’ for Islamic finance
Posted on Wednesday October 05, 2016

Last week, Sharia-compliant Al Rayan Bank expanded its presence with the launch of a new office in Bradford. Now that a deadline has been set for Britain to invoke Article 50, Naveed Mohammed, foun...

Will bridging lenders look closer at bond issuance?
Posted on Wednesday October 05, 2016

Just last week, specialist lender Together raised £375m via a bond issuance as it looked to further improve its financial position.  In April 2015, bridging finance provider Funding 365 ...

Metro Bank recruits two directors to commercial team
Posted on Wednesday October 05, 2016

Andy Hallett joins as director of property having previously served as managing director of real estate finance at NatWest. Meanwhile, Hannah-Louise Smith, former UK head of liquidity solutions for...

Castle Trust completes second charge bridge in two weeks
Posted on Wednesday October 05, 2016

The lender used the specialist distributor to provide a second charge bridge that was required quickly to refinance an existing deal. The application to completion of the loan was just two weeks, w...

The Mortgage Lender increases proc fees
Posted on Tuesday October 04, 2016

The Mortgage Lender (TML) has announced that it is increasing its procuration fees by £300 for applications that subsequently complete from its distribution partners

Building Society cancels interest on Pibs after losses
Posted on Tuesday October 04, 2016

Manchester Building Society is still looking at ways to secure its future after announcing H1 losses

Can master brokers cope with a surge in enquiries?
Posted on Tuesday October 04, 2016

Master brokers should prioritise quality over quantity when it comes to dealing with a surge in second charge enquiries following the implementation of the Mortgage Credit Directive (MCD), Loan Talk has been told

12% of self-employed borrowers rejected for home loans
Posted on Tuesday October 04, 2016

Nearly one in eight self-employed customers has been rejected for first-time mortgages or remortgage products, according to the latest research

PRA’s BTL changes to open the door to second charge mortgages
Posted on Tuesday October 04, 2016

The new changes in buy-to-let (BTL) underwriting standards is expected to open up more opportunities for the second charge mortgage market

Brightstar launches HNW London division
Posted on Monday October 03, 2016

Brightstar has announced the launch of a new residential and commercial division for high-net-worth real estate transactions

Paragon to acquire asset finance brokerage
Posted on Monday October 03, 2016

Edinburgh-based Premier Asset Finance Limited will be acquired by Paragon Bank’s asset finance division for an initial consideration of £8.5m, with a further £12m payable over the ne...

FCA targets unauthorised lender
Posted on Monday October 03, 2016

The Financial Conduct Authority (FCA) has issued a warning over a lender that it believes is providing services or products without authorisation

Landbay launches online rent check tool
Posted on Monday October 03, 2016

Landbay’s postcode search widget allows users to compare the rents of properties in an area using data from the lending platform’s monthly rental index, which is powered by independent val...

Together features on prestigious league table
Posted on Monday October 03, 2016

The league table is compiled by Fast Track and ranks private mid-market growth companies with the biggest sales. The table is published in The Sunday Times every October with an awards event in Nov...

Vantage appoints new sales director
Posted on Monday October 03, 2016

Specialist broker Vantage Finance has appointed Jon Daniels as sales director as part of its ambitious expansion plans

Lender set to launch bridging arm
Posted on Monday October 03, 2016

In an interim statement, Birmingham-based S&U PLC revealed that record profitability during the first half of 2016 has enabled it to pilot a new venture in the property bridging sector. The exp...

‘If the investor isn’t choosing the loan then it’s not peer-to-peer’
Posted on Monday October 03, 2016

Some peer-to-peer platforms do not allow the investor to choose which type of loans they fund.  Instead, platforms allocate investors’ money across a variety of different loans.  ...

Article 50 deadline set: Industry responds
Posted on Monday October 03, 2016

Speaking at the Conservative Party Conference 2016 in Birmingham on 2nd October, Mrs May told party members that Article 50 will be invoked before the end of March 2017. “Having voted to leav...

Digital bank launches Android app
Posted on Monday October 03, 2016

Consumers are now able to sign up for a Monzo card via Android devices.  Previously this option was only available for those using Apple’s iOS devices. The new app offers instant noti...

LendInvest: Now is the time for action
Posted on Monday October 03, 2016

Over the summer, the Communities & Local Government Committee began an inquiry into the capacity of the homebuilding industry, while the National Housing Taskforce launched a call for evidence on ...

Top 10 questions peer-to-peer investors should be asking
Posted on Friday September 30, 2016

As more investors begin to consider P2P lending as a viable alternative, it’s important that they understand the risks involved and how the platforms work. Mark Posniak, the managing director...

Bridging lender raises £375m via bond issuance
Posted on Friday September 30, 2016

The new bond has a five-year tenure, with the senior secured notes issued with a coupon of 6.25%. Together will use a proportion of the proceeds to repay the previous £300m bond issued with s...

Secured loan approvals from specialist lenders plummet
Posted on Thursday September 29, 2016

Approvals for secured loans from specialist lenders dropped during August

Brexit and tax changes could reduce transaction levels to rubble, conveyancer warns
Posted on Thursday September 29, 2016

A “perfect storm” of Brexit and anti-landlord tax policies could reduce UK transaction levels to rubble, a conveyancer has warned

‘The taxation of everything needs a total rethink’
Posted on Thursday September 29, 2016

The government has been urged to consider reforming stamp duty land tax (SDLT) to help remove obstacles for house buyers

Estate agent makes double acquisition
Posted on Thursday September 29, 2016

Linley & Simpson has announced it has taken over two rival estate agents

PRA reveals new BTL underwriting standards
Posted on Thursday September 29, 2016

The Prudential Regulation Authority (PRA) has announced new minimum expectations for underwriting standards in the buy-to-let (BTL) market

HFBS completes second charge bridge in one week
Posted on Thursday September 29, 2016

The lender helped a businesswoman and entrepreneur get a property venture up and running with a £50,000 loan at 0.95% per month. The client was planning to fund the purchase of a house in mul...

Business rates overhaul: what to expect
Posted on Thursday September 29, 2016

Local government minister Marcus Jones has claimed that the majority of businesses will be better off following the revaluation of business rates across the country

Development lender becomes FCA regulated
Posted on Wednesday September 28, 2016

MSI is a private firm that specialises in providing principal finance to private and corporate clients for real estate developments, bridging and commercial requirements. The lender claims to be un...

Industry heavyweights to chair Loan Talk Second Charge Mortgage Awards 2016
Posted on Wednesday September 28, 2016

Two chairpersons have been selected for the Loan Talk Second Charge Mortgage Awards 2016 judging panel

Allianz Ventures buys stake in robo-adviser
Posted on Wednesday September 28, 2016

Allianz Ventures has revealed it has become a minority shareholder in robo-adviser MoneyFarm

Three firms withdraw from P2P authorisation process
Posted on Wednesday September 28, 2016

A freedom of information request submitted by Bridging & Commercial to the FCA has uncovered that no peer-to-peer lenders have had their authorisation applications declined to date. However, th...

What caused the 74.6% bridging surge?
Posted on Wednesday September 28, 2016

The National Association of Commercial Finance Brokers’ (NACFB) annual survey revealed that brokers wrote 74.6% more bridging business in the past year. Total bridging finance business writte...

UTB provides £2.45m bridge for family home
Posted on Wednesday September 28, 2016

The purchase price for the property was around £3.7m and the application seemed straightforward until complications arose when underwriting revealed several issues affecting the properties offer...

The FP Show 2016: What to expect
Posted on Wednesday September 28, 2016

Beginning with complimentary coffee and pastries in the morning for those arriving between 9.30-10.30am, the all-day event will give lenders, brokers and many other financial representatives the chanc...

LendInvest completes first case with Crystal
Posted on Wednesday September 28, 2016

The specialist distributor completed its first case with LendInvest after a client needed funding fast and was not able to secure a buy-to-let loan due to the condition of the property. The house i...

Kuflink partners with risk-scoring platform
Posted on Tuesday September 27, 2016

Kuflink has appointed the company to ensure compliance with anti-money laundering (AML) regulation at a time when peer-to-peer lending is under great scrutiny. Contego’s identity verification...

FCA cancels permissions of seven mortgage firms
Posted on Tuesday September 27, 2016

The Financial Conduct Authority (FCA) has revealed that seven firms that had permission to conduct mortgage-related business have had their permissions cancelled by the regulator in the past year

Street UK expands online services
Posted on Tuesday September 27, 2016

Lender Street UK has expanded its online services to reach borrowers in London and Manchester

In the Spotlight with Kerry Bradley of Together
Posted on Tuesday September 27, 2016

Loan Talk caught up with Kerry Bradley, business development manager for north London at Together, to find out more about the lender’s next phase of growth

Central Trust: Meeting the needs of a growing NI economy
Posted on Tuesday September 27, 2016

With a relatively modest population of 1.86 million, Northern Ireland might look small beans when compared to the UK mainland economy

Trade body releases buy-to-let roadshow dates
Posted on Tuesday September 27, 2016

Industry body the Society of Mortgage Professionals has unveiled a series of events dedicated to the buy-to-let (BTL) mortgage sector

Master broker reports 30% enquiry boost post-Brexit
Posted on Tuesday September 27, 2016

Master broker and packager First 4 Bridging has experienced a significant rise in enquiries for bridging and development finance since the EU referendum

43% of law firms could merge after competition heats up
Posted on Monday September 26, 2016

New research has found that 43% of law firms are looking to acquire or merge during the next year

OakNorth to launch easy access accounts after doubling loan book
Posted on Monday September 26, 2016

Last week the digital-led OakNorth claimed to have become the first new bank to both break even and achieve cash profitability within one year of launching. OakNorth’s retail products offer a...

BloomSmith rescues three clients with VAT funding
Posted on Monday September 26, 2016

The lender, which launched last week, can help property investors at risk of losing out on an investment with its unsecured funding service to cover the VAT on a building purchase. BloomSmith came ...

Sharia-compliant bank opens new UK office
Posted on Monday September 26, 2016

The bank claims to offer the UK’s largest range of Islamic retail banking products, including Sharia law-compliant home and property finance.  Islamic banks who comply with Sharia law op...

ASTL Conference 2016: FCA addresses Brexit misconceptions
Posted on Friday September 23, 2016

At the Association of Short Term Lenders (ASTL) Conference 2016, speaker Lynda Blackwell, mortgage sector manager at the FCA, admitted that some firms were unsure whether EU regulations would remain i...

TFC boosts sales team with manger appointment
Posted on Friday September 23, 2016

Specialist distributor TFC Homeloans has appointed an experienced property professional as a key account manager for the South of England

Bank signs contracts with six fintech start-ups
Posted on Friday September 23, 2016

Barclays has signed contracts to work with six fintech companies following the completion of its 13-week fintech accelerator programme in New York.

Dragonfly launches deferred interest BTL product
Posted on Friday September 23, 2016

The short- and medium-term lender will be charging 6.99% pa for the product, but borrowers can choose to defer 2% of the interest payable to create an effective pay rate of just 4.99% pa. The arran...

Bank invests in 34 finance providers
Posted on Friday September 23, 2016

The commercial arm of the British Business Bank has generated this return on investment for the UK taxpayer by investing in small business finance providers.  The bank revealed that its gross ...

Another UK property fund set to reopen
Posted on Thursday September 22, 2016

A property fund is set to resume daily dealing on Friday 14th October 2016 following its suspension after the EU referendum

Robo-advisers using personal data could be the ‘thin end of the wedge’
Posted on Thursday September 22, 2016

Robo-advisers can already use personal data to predict when customers need a mortgage, an automated adviser has claimed

Asset finance broker changes name
Posted on Thursday September 22, 2016

PMD Leasing Limited has revealed it will be trading under its new name PMD Business Finance in order to reflect its current business activities

Scottish law firm moves South with acquisition
Posted on Thursday September 22, 2016

Aberdein Considine has made its first expansion into England and Wales with the acquisition of a Newcastle law firm

Amicus prevents delay on £1m development
Posted on Thursday September 22, 2016

The lender was approached to fund the purchase of the site, which had previously been used for warehousing and storage, in an established student area in Sheffield.  The site had planning perm...

Accountancy firm expects £47m turnover after merger
Posted on Thursday September 22, 2016

Two accountancy firms are set to merge creating a business with an expected turnover of £47m

Annual bridging lending reaches £4.4bn
Posted on Thursday September 22, 2016

The West One Bridging Index found the short-term lending market rose by 12.5% in March and April, while high street bank mortgage lending fell by 12.8% year-on-year in July. The size of the ave...

Second charge broker opens branch in Wales
Posted on Thursday September 22, 2016

Specialist broker Loan.co.uk has announce the official opening of a branch in Wales

193 financial services firms enter insolvency
Posted on Wednesday September 21, 2016

Figures released by the Insolvency Service revealed that 193 financial services firms, excluding insurance and pension funding, were made insolvent between April 2015 and March 2016. The most commo...

Alternative lending drop is a ‘pause for breath’
Posted on Wednesday September 21, 2016

Last week, the National Association of Commercial Finance Brokers reported a 14.4% fall in alternative lending business compared with the same period last year. Meanwhile, traditional sources of le...

Challenger bank launches voice automation service
Posted on Wednesday September 21, 2016

The voice-automated service will allow customers to send transfers of up to £21.40, with a daily limit of approximately £85.78. The news comes less than two months after N26 received it...

People more likely to buy homes post-Brexit
Posted on Wednesday September 21, 2016

Figures from the Building Societies Association (BSA) property tracker revealed that 12% are more likely to purchase property now than they were at the start of the year, while just 4% are less likely...

Charleston recruits ex-Vantage head
Posted on Wednesday September 21, 2016

Master broker Charleston Financial has appointed the former head of sales of Vantage Finance as its head of originations

P2P lender posts £4.9m loss after fee changes
Posted on Tuesday September 20, 2016

The loss comes in spite of the peer-to-peer lending platform seeing a revenue growth of 46%, increasing it to £18.5m from £12.6m the previous year. RateSetter is attributing the loss to...

The Mortgage Lender completes its first ever case
Posted on Tuesday September 20, 2016

The Mortgage Lender (TML) has completed its first mortgage nine weeks after launching

FCA refuses debt adviser’s application over compliance deficiencies
Posted on Tuesday September 20, 2016

A debt adviser has had its application for Financial Conduct Authority (FCA) permissions refused by the regulator

Buy to Let Club adds two new dates for sold out event
Posted on Tuesday September 20, 2016

The Buy to Let Club’s ‘Buy to Let Event’ has announced two more dates after being fully booked for the Bracknell and London shows

Adviser acquisition collapses
Posted on Tuesday September 20, 2016

Standard Life’s acquisition of financial adviser Almary Green has fallen through after the pair mutually agreed to end discussions

Adviser firm granted full FCA authorisation
Posted on Tuesday September 20, 2016

Debt adviser PayPlan has received full authorisation from the Financial Conduct Authority (FCA)

FCA urged to tighten responsible lending guidance after £34m redress
Posted on Tuesday September 20, 2016

Citizens Advice has called on the Financial Conduct Authority (FCA) to force every payday lender to carry out rigorous financial checks on potential borrowers

UTB refreshes specialist mortgage products
Posted on Tuesday September 20, 2016

United Trust Bank (UTB) has revealed that it has made a number of changes to its tracker and fixed rate specialist mortgage products

Landlords have been a ‘political football’, claims broker
Posted on Tuesday September 20, 2016

Landlords being used as a “political football” could be dangerous for the housing market, a mortgage broker has warned

SimplyBiz: Always consider the CONC code
Posted on Tuesday September 20, 2016

Last week, I wrote about communicating with clients and prospective clients

Shawbrook completes mortgage for expat in eight days
Posted on Tuesday September 20, 2016

The client was an expatriate living in the United States who wanted to purchase two apartments in central London. The loan consisted of two separate mortgage applications both for £418,000 at...

Together partners with TBMC
Posted on Monday September 19, 2016

With the partnership’s initial focus to include auction finance, Together claims that it will be the first lender to provide auction finance, bridging finance and commercial second charge mortga...

UTB promotes Robert Owen to MD of mortgages and bridging
Posted on Monday September 19, 2016

Currently responsible for the bank’s specialised mortgage division, Robert will now take additional responsibility of UTB’s bridging finance division.  Harley Kagan, group managing...

Regentsmead reveals new product range
Posted on Monday September 19, 2016

The products include a variety of new options for developers across new build, conversion and refurbishment projects. Borrowers can choose from a range of term lengths of up to 15 months, which are...

Jo Edwards joins United Trust Bank
Posted on Monday September 19, 2016

The former commercial director of Nemo Personal Finance has joined United Trust Bank (UTB)

Commercial property law firm acquired
Posted on Monday September 19, 2016

Welsh law firm Hugh James has acquired a boutique London commercial property law firm

Chairman of commercial lender to step down
Posted on Monday September 19, 2016

Gerrit Zalm is contracted to the position until May 2018, but has decided to step down next year after consultation with the board. Following ABN AMRO’s split-up, merger and IPO, Mr Zalm has ...

Jonathan Samuels secures £3.5m from P2P platform for new venture
Posted on Monday September 19, 2016

Since leaving Dragonfly just over a year ago, Jonathan has founded Upfront Car Finance, which specialises in vehicle finance for Uber drivers. UK Bond Network has now provided Upfront Car Finance w...

Just Cash Flow: Confidence in alternative finance business remains
Posted on Monday September 19, 2016

This hasn't been our experience, as over the 12-month period in question (1st July 2015 to 30th June 2016), there has continued to be a strong demand for the finance facilities we provide and we e...

Mint honours terms on £975,000 loan despite down valuations
Posted on Monday September 19, 2016

The client was looking to borrow up to 75% against a property he already owned that required work before it could be let out. However, he also wanted to raise the funds to simultaneously buy anothe...

71% of bridging lenders expect business volume growth
Posted on Monday September 19, 2016

The ASTL’s sentiment survey saw a significant upturn in confidence among bridging lenders after it reported that 60% of lenders had lost confidence after the EU referendum. However, the most ...

New SME lender launches
Posted on Friday September 16, 2016

The £26bn manager has launched Hermes Direct Lending Strategy, which will provide access to stable, low-correlated returns offered by predominately senior-secured loans to small- and medium-size...

Borrower compensated over unsuitable advice to remortgage
Posted on Friday September 16, 2016

The Financial Ombudsman Service (FOS) has ordered Legal & General Partnership Services Limited (L&G) to compensate a pair after they complained about an adviser connected to the firm

Challenger bank hires ex-Bibby director to head up team
Posted on Thursday September 15, 2016

Kevin joins from Bibby Financial Services, where he led the corporate sales team before becoming corporate risk director.  With over 20 years of experience in invoice and asset-based lending, ...

Distributor offers brokers £1m in free legals
Posted on Thursday September 15, 2016

TFC Homeloans has confirmed it will be offering brokers up to £1m in free legals for remortgage clients over a six-month period

Moser family anticipated to become sole shareholder of Together
Posted on Thursday September 15, 2016

The specialist lender anticipates that the Moser family would increase their current majority interest to become the sole shareholder, alongside a small, non-voting shareholding interest held by other...

Almost 60% of brokers more likely to consider second charges
Posted on Thursday September 15, 2016

Some 59% of brokers are more likely to consider second charge products for their clients, according to the latest analysis

Law firm fined for failing to disclose material information
Posted on Thursday September 15, 2016

The Solicitors Regulation Authority (SRA) has fined a law firm that failed to tell lender clients that purchaser clients had been a party to a stamp duty land tax (SDLT) scheme to avoid paying stamp duty

Ying Tan: New BTL regulations present opportunity for bridging
Posted on Thursday September 15, 2016

I’ve spoken many times about the close relationship bridging finance has with buy-to-let

Speed highlighted as biggest advantage of fintech lenders
Posted on Thursday September 15, 2016

The time taken to access finance has been seen as the biggest advantage of using a fintech lender

L&G sells pub chain for £118m
Posted on Thursday September 15, 2016

Legal & General Capital (LGC) has completed the sale of its majority interest in the Liberation Group pub chain

Estate agency acquired by property group
Posted on Thursday September 15, 2016

Property franchise group MartinCo PLC has acquired EweMove Sales and Lettings

FHL announces rate cuts
Posted on Wednesday September 14, 2016

Rates have been reduced by up to 0.8% and FHL’s arrangement fee has been simplified to a universal 2% of the loan amount across the range. Paul Brett, business development director at FHL, co...

Praetura secures £18m investment
Posted on Wednesday September 14, 2016

The investment was provided by British Business Bank Investments Ltd, the commercial arm of the British Business Bank, and comprises £15m of matched funding, £3m of expansion capital and i...

Borro enters regulated bridging market after FCA approval
Posted on Wednesday September 14, 2016

The secured lender will begin offering the products from Monday 3rd October 2016 alongside its existing bridging and luxury asset offerings.  Borro has predicted that regulated lending will ma...

Overseas investors purchase significant UK hotel portfolio
Posted on Wednesday September 14, 2016

Two agents have advised on the sale of three branded UK hotels to an Asian joint venture

Exclusive: Unsecured VAT bridging lender launches
Posted on Wednesday September 14, 2016

London-based BloomSmith VAT Bridging provides unsecured short-term loans to borrowers in need of the funds to cover the VAT on a property purchase. As BloomSmith does not need to put a charge on th...

Just Loans Group to offer banking service this year
Posted on Wednesday September 14, 2016

The lender revealed the news after it became a benefactor of ‘Project Rome’, which is lobbying for fairer access to payments infrastructure through fintech providers. The campaign has b...

44% believe bridging underwriters issue correct loan terms
Posted on Wednesday September 14, 2016

A poll conducted by Bridging & Commercial found that just 44% of respondents believe bridging underwriters are issuing the correct loan terms for borrowers. Responding to these figures, Mat...

Keystone slashes rates after appointing ex-Crystal BDM
Posted on Wednesday September 14, 2016

The news comes as the specialist lending brand revealed it had appointed Moises Cruickshank as its new southern business manager. The new rates will see five-year fixed rates reduce by 0.4% and wil...

Three new faces join ASTL executive committee
Posted on Wednesday September 14, 2016

The committee – which consists of six members plus Benson Hersch, chief executive of the ASTL – is voted on each year and provides direction and decision making for the Association. The...

UK property fund to lift trading suspension
Posted on Tuesday September 13, 2016

The suspension will be lifted on 26th September 2016 at 12pm and the fund’s depositary, Citibank Europe PLC, UK Branch and the FCA have been informed of the decision to lift the suspension. T...

FCA urged to pay AR compensation for system error
Posted on Tuesday September 13, 2016

The Financial Conduct Authority (FCA) has rejected calls to further compensate an appointed representative (AR) firm after associating it with a suspended trading name in the financial services registry

22% of house movers hit by mortgage issues
Posted on Tuesday September 13, 2016

More than one-fifth of house sales or purchases have fallen through as a result of problems with arranging mortgages, new data has revealed

Alternative finance business plunges
Posted on Tuesday September 13, 2016

Alternative finance business has fallen by 14.4% over the past year, leading to speculation that its rapid growth “couldn’t be sustained”

Lender secures £20m funding boost
Posted on Tuesday September 13, 2016

The fund, which was launched earlier this year, now has a total lending capacity of £60m and is set to be lent to business across the UK, with a particular focus on the leisure industry. The ...

Debt management firm fined over unwanted texts
Posted on Tuesday September 13, 2016

A debt management company has been fined £40,000 after sending unwanted marketing texts to consumers

Are borrowers to blame for inaccurate loan applications?
Posted on Tuesday September 13, 2016

Borrowers are to blame for incorrect loan applications despite lenders needing to perform adequate credit checks, a broker has claimed

78% believe self-employed second charge products are competitive
Posted on Tuesday September 13, 2016

Second charge products for the self-employed have been praised for being much closer aligned to the requirements of borrowers and flexibility

Brightstar: Opening the door to opportunity - challenger banks
Posted on Tuesday September 13, 2016

Challenger banks and specialist lenders had a strong 2015 in which, according to research from the Council of Mortgage Lenders, they grew their gross lending by 56%

Ex-Goldman Sachs head joins bridging lender
Posted on Monday September 12, 2016

Paul Weitzkorn joins from Goldman Sachs, where he had managed the team responsible for residential and commercial secured products as head of European mortgage sales. In his new role, Paul will be ...

Bank doubles lending in NI
Posted on Monday September 12, 2016

A European bank has revealed that it doubled the value of mortgages delivered to Northern Ireland customers in the second quarter of 2016

Bank reports PPI claims specialist to watchdog
Posted on Monday September 12, 2016

The news follows Lloyds Banking Group launching a complaint against two claims management companies back in March, one of which was found to be misleading consumers. The Advertising Standards Agenc...

Lender calls Brexit valuation clause ‘absolutely unacceptable’
Posted on Monday September 12, 2016

The debate followed last week’s comments from Arwel Griffith, partner at Robert Sterling Surveyors, who told Bridging & Commercial’s (B&C) sister site Bridging & Commercial Dis...

Exclusive: Wellesley funds £14m bridge
Posted on Monday September 12, 2016

Wellesley tailored the 18-month loan for the client by forecasting repayments during the term to reduce interest roll-up. The firm also allowed the partial release of sales proceeds as the LTV redu...

Shawbrook completes £971,000 residential loan
Posted on Monday September 12, 2016

The LRI3 loan at 75% LTV was required to convert two adjoining three-storey terraced houses in Croydon into eight self-contained flats, with four apartments in each. Once the first property was com...

Second charge lending falls 9%
Posted on Friday September 09, 2016

New second charge lending fell by 9% in July, the Finance & Leasing Association (FLA) has revealed

Two ex-RBS managers join P2P lender
Posted on Friday September 09, 2016

Of the five new managers, both Andy Heaton and Raj Chahal spent time as relationship managers at RBS, while David Hales was formerly a business manager at Metro Bank.  Andy will be responsible...

Property fund sells £30m loan portfolio
Posted on Thursday September 08, 2016

The loans include real estate schemes in the North West, such as Media City, 1 Spinningfields, City Place, Chester and Soapworks. The North West Evergreen Fund is a partnership between 16 local cou...

TFC appoints head of marketing
Posted on Thursday September 08, 2016

Specialist distributor TFC Homeloans has appointed Charlotte Rutter as its new head of marketing

FCA finds some lenders unprepared to mitigate interest rate rise impact
Posted on Thursday September 08, 2016

The Financial Conduct Authority (FCA) has revealed that mortgage lenders still have some way to go when dealing with vulnerable customers who could be impacted by a rise in interest rates

Government urged to tackle valuation appeal backlog
Posted on Thursday September 08, 2016

Lambert Smith Hampton (LSH) has urged the government to provide the Valuation Office Agency (VOA) with resources to deal with a backlog of appeals over business rates for non-domestic properties

Ignoring a Brexit valuation clause is ‘not an option’, warns surveyor
Posted on Thursday September 08, 2016

Valuers cannot ignore the need for a post-Brexit warning clause in valuation reports, a surveyor has warned

London property investor jailed for tax credit fraud
Posted on Thursday September 08, 2016

A self-employed property investor and caterer has been jailed for 20 months after pleading guilty to being knowingly concerned in fraudulent claims of tax credits

Could fintech predict when a client needs a mortgage?
Posted on Thursday September 08, 2016

Robo-advisers collecting customer data could soon be able to predict when a client needs a mortgage before even they themselves know, a fintech conference has heard

Law firm advises Bellway PLC on Scottish developments
Posted on Thursday September 08, 2016

Shoosmiths has revealed it has been advising Bellway PLC on three new housing developments in Scotland

House prices fall by 0.2%
Posted on Wednesday September 07, 2016

While annual house-price growth in the three months to August was 6.9% higher than for the same period in 2015, this was down from the 8.4% increase recorded in July. House prices in the period Jun...

Clever Lending partners with Bluestone Mortgages
Posted on Wednesday September 07, 2016

Distributor Clever Lending has joined Bluestone Mortgages’ first charge mortgage panel

19 law firms closed by SRA this year
Posted on Wednesday September 07, 2016

The Solicitors Regulation Authority (SRA) has revealed that it intervened with 19 law firms since the beginning of this year up to the 23rd August

Allsop launches its largest online auction catalogue
Posted on Wednesday September 07, 2016

The property consultants revealed that the buildings will be up for auction on Tuesday 13th September 2016 between 10am and 5.30pm with each lot closing every two minutes. The auction will feature ...

Hargreaves Lansdown delays P2P launch until 2017
Posted on Wednesday September 07, 2016

The advisory firm revealed the news in its annual report, which also confirmed that the launch of its cash management service HL Savings would also take place next year. Hargreaves Lansdown declare...

Just Loans Group joins BBA
Posted on Wednesday September 07, 2016

The association currently has over 240 members and represents the world’s largest banking cluster with 80% of global systematically important banks being members. The BBA also supports and pr...

Atom Bank appoints commercial broker
Posted on Wednesday September 07, 2016

The Durham-based challenger bank has appointed Rivers to act on its behalf to introduce clients to the commercial loan facilities offered by the bank. Rivers is a venture capital investment busines...

Roma slashes bridging finance rates
Posted on Tuesday September 06, 2016

The bridging and development lender also revealed that loans secured on residential and semi-commercial properties will now no longer have an exit fee. Meanwhile, for residential investment propert...

Bank of Scotland sees home finance complaints surge 20.5%
Posted on Tuesday September 06, 2016

Over 750 complaints regarding mortgages and home finance provided by Bank of Scotland were received by the Financial Ombudsman Service (FOS) in the past six months

Ingard expands lender panel
Posted on Tuesday September 06, 2016

Specialist network and distributor Ingard has added two firms to its lending panel

Network selects Crystal as bridging and commercial partner
Posted on Tuesday September 06, 2016

HLPartnership (HLP) has chosen Crystal Specialist Finance (CSF) as its preferred specialist distribution partner for the bridging and commercial markets

250 brokers a week sign up to EasySource
Posted on Tuesday September 06, 2016

Brightstar has revealed that over 3,000 intermediaries have already signed up to use its EasySource sourcing system

Lender forced to refund interest over inadequate checks
Posted on Tuesday September 06, 2016

A borrower who supplied inaccurate information on her loan application will receive a refund after the Financial Ombudsman Service (FOS) accused the lender of failing to perform adequate affordability checks

UK brands told not to ‘interfere’ with mortgage market
Posted on Tuesday September 06, 2016

It has been suggested that some big UK brands could potentially suffer credibility issues if they entered the mortgage market

Average second charge loan size increases by 83%
Posted on Tuesday September 06, 2016

Second charge master broker V Loans has seen an 83% rise in its average loan size compared to 2014

Together drops buy-to-let mortgage rates
Posted on Tuesday September 06, 2016

Specialist lender Together has announced a 0.65% reduction of the interest rate for its buy-to-let light plan offering

Shawbrook completes £151,500 refinance
Posted on Monday September 05, 2016

The loan – a RI0.2 product for a simple residential investment at 76% LTV – was brokered by Alderbrook Financial Solutions. Alderbrook received an instant offer via Shawbrook’s E-...

FHL boosts northern sales team
Posted on Monday September 05, 2016

Buy-to-let (BTL) lender Foundation Home Loans (FHL) has announced the appointment of Joanna Elton as regional account manager for the North of England. Joanna joins FHL from Mortgage Intelligence, ...

Ex-Secure Trust head joins Wellesley
Posted on Monday September 05, 2016

Derek Bradstock has joined Wellesley as head of development finance, bringing a wealth of experience having also previously held a directorship role at RBS and NatWest. Derek will be working toward...

Former Enterprise CEO to head up new financial services firm
Posted on Monday September 05, 2016

Set to launch later this month, Black Book Finance will act as a concierge-style financial solution for intermediaries who deal in specialist and business finance. Michael’s appointment will ...

Boost Capital launches new broker portal
Posted on Monday September 05, 2016

The new online platform provides brokers with a personalised dashboard enabling them to submit applications, track live deals and access real-time commission reports. The portal also offers a range...

Zopa cuts headline rates
Posted on Monday September 05, 2016

The peer-to-peer lender’s headline lending rates will decrease by 0.2% from 8th September 2016 with Zopa’s access product reducing to 3.3%, the classic option to 4.1%, while its plus offer...

United Trust Bank replaces chairman
Posted on Monday September 05, 2016

Richard Murley replaces Nicholas Clegg, who retired after 15 years in the position. An executive vice chairman of NM Rothschild & Son, Richard has worked in the City of London for more than 30 ...

Morses Club reports rise in customers after IPO
Posted on Monday September 05, 2016

Morses Club PLC has revealed that it has seen its customer numbers rise to around 208,000 following strategic growth initiatives and acquisitions

Bankrupt spent £500k of investor money to buy property
Posted on Monday September 05, 2016

A 14-year bankruptcy restriction has been handed to a man who failed to invest funds that were given to him for that purpose

American risk expert joins BoE’s FPC
Posted on Friday September 02, 2016

Professor Anil Kashyap joins the FPC as an external member after teaching at universities in the US, as well spending three years as an economist for the board of governors for the Federal Reserve Sys...

Alternative Bridging recruits two ex-Fortwell managers
Posted on Thursday September 01, 2016

Dena Thompson joins Alternative Bridging as head of underwriting, having spent over four years as underwriting and credit manager at Fortwell Capital. Dena has over 15 years’ experience worki...

Network launches unsecured loan portal
Posted on Thursday September 01, 2016

Mortgage network and distributor Connect for Intermediaries has launched an unsecured loan portal for its members

Law firm posts £4m profit drop
Posted on Thursday September 01, 2016

Irwin Mitchell has reported a significant drop in profit before tax following its merger with Thomas Eggar

Law firm reveals new name after merger
Posted on Thursday September 01, 2016

Law firms Withy King LLP and Royds LLP have rebranded following a merger

NACFB CFE 2017 expands venue following demand
Posted on Thursday September 01, 2016

The National Association of Commercial Finance Brokers (NACFB) has announced that it will be moving its annual expo to a larger venue

Investors pounce on Manchester office market
Posted on Thursday September 01, 2016

Transaction volumes in Manchester’s office investment market totalled £304m during the first half of 2016, according to Savills

HMRC reveals tighter sanctions for offshore tax evaders
Posted on Thursday September 01, 2016

HM Revenue and Customs (HMRC) has announced a new set of tough sanctions for offshore tax evaders

Property fund gains FCA approval for £323m takeover
Posted on Wednesday August 31, 2016

The FCA has given its approval for PW Real Estate Fund III to acquire the entire issued share capital of Pinewood Group for £323.3m through the newly-incorporated company, Picture Holdco Limited...

‘No evidence’ of peer-to-peer investors underestimating risk, says P2PFA
Posted on Wednesday August 31, 2016

In August, former chief executive of the Financial Conduct Authority (FCA), Tracey McDermott, expressed concerns that the rapid growth of the P2P marketplace could leave some investors unaware of the ...

London Property Finance Conference 2016: speakers revealed
Posted on Wednesday August 31, 2016

The event, which takes place on 7th September between 2-7pm at the Building Centre in central London, will explore the capital’s funding market post-Brexit. Following the release of the timet...

Mint Bridging appoints legal head
Posted on Wednesday August 31, 2016

Anthony Akka joins from Parker Properties, where he was responsible for heading court claims, rent accounts and leases for each property business division. Anthony brings with him nearly 30 years o...

Peer-to-peer lender posts £8.9m loss
Posted on Wednesday August 31, 2016

Zopa stated that annual losses in 2015 stood at £8.9m, up from £6.1m in 2014. Zopa reported that this was in line with expectations after making significant internal investments through...

Principality CEO to step down
Posted on Wednesday August 31, 2016

Principality Building Society has announced that its group chief executive will step down next year

Private rental prices unstifled by Brexit
Posted on Wednesday August 31, 2016

An Index of Private Housing Rental Prices (IPHRP) published by the Office for National Statistics (ONS) found that private rental prices grew by 2.6% in England for the 12 months ending July 2016. ...

FSCS declares two adviser firms in default
Posted on Wednesday August 31, 2016

Consumers may be due compensation following the failure of two financial advice firms

Kuflink names new director
Posted on Tuesday August 30, 2016

Kuflink Ltd, which includes Kuflink Bridging, announced that Barry Meeks has joined the group after enjoying a long and successful career in the finance industry spanning over 35 years. Bal Thind, ...

FCA urged to tighten payday rules after credit check failures
Posted on Tuesday August 30, 2016

New research has claimed that some payday lenders are still failing to carry out sufficient credit checks

Adviser network acquired for £4m
Posted on Tuesday August 30, 2016

Network Direct Limited (NDL), a national network of financial advisers, has been acquired by a wealth management group for £4m

MP questions football club’s partnership with lender
Posted on Tuesday August 30, 2016

An MP has questioned a football club’s decision to partner with a payday lender

UTB provides second charge for loft conversion
Posted on Tuesday August 30, 2016

United Trust Bank (UTB) has completed a second charge mortgage of around £150,000 to allow a client to complete extensive home improvements

Norton celebrates record month
Posted on Tuesday August 30, 2016

Norton Broker Services has announced that it broken its record for income in July

Loan.co.uk discusses NI product launches with several lenders
Posted on Tuesday August 30, 2016

Loan.co.uk has revealed that Central Trust has become its strategic lending partner for Northern Ireland, as well as being in talks with several other specialist lenders

Challenger bank changes name
Posted on Friday August 26, 2016

Monzo has been chosen as the bank’s new name after it was forced to change it following a legal challenge from an undisclosed company.  The news comes after Monzo was granted a restricte...

Bank appoints environmentalist as MD
Posted on Friday August 26, 2016

Dr Bevis Watts re-joins Triodos Bank UK following his most recent position as chief executive officer of Avon Wildlife Trust, having previously served as head of business banking at Triodos Bank UK fr...

Crowdfunding ‘some way off’ replacing traditional bank equity capital sources
Posted on Friday August 26, 2016

Earlier this month, digital challenger bank Mondo, which recently changed its name to Monzo, announced plans to crowdfund up to £20m after securing a restricted banking licence from the Financia...

25% of SMEs claim lack of support from banks
Posted on Friday August 26, 2016

Over a quarter of 500 SMEs surveyed felt their banks didn’t support them, with 30% of businesses turning over less than £1m feeling unsupported. The survey, which was conducted by YouGo...

RateSetter to speak at Think Global 2016
Posted on Friday August 26, 2016

Think Global 2016 hosted by World First will take place on Tuesday 11th October 2016 at One Marylebone in central London and brings together a range of prominent experts and entrepreneurs to...

Law firm expects £577m loss
Posted on Thursday August 25, 2016

International law firm Slater and Gordon Limited has predicted it will net annual losses of approximately £577m

FCA approves Target takeover
Posted on Thursday August 25, 2016

The Financial Conduct Authority (FCA) has approved the takeover of financial services software provider Target Group

Gowling WLG celebrates profit boost since merger
Posted on Thursday August 25, 2016

Gowling WLG has announced an increase in revenue as well as profit before tax following its merger earlier this year

Buy to Let Club reports limited company application surge
Posted on Thursday August 25, 2016

Buy to Let Club has detected a sharp increase in the number of buy-to-let loans that are being applied for via limited companies

Aldermore reveals new manager
Posted on Thursday August 25, 2016

Anna O’Connor joins from insurance specialist BGL Group, where she spent seven years, initially working as a business analyst and then as a corporate partnership manager. In her new role, Ann...

FCA application waiting times surge
Posted on Thursday August 25, 2016

The Financial Conduct Authority (FCA) has revealed that its average processing time (APT) for retail and wholesale firm type applications has increased

Borrower fails to get further compensation from lender
Posted on Thursday August 25, 2016

A pair have lost the fight to get further compensation against a lender, after claiming that the original offer following their complaint was not sufficient

Masthaven recruits ex-Regentsmead executive
Posted on Wednesday August 24, 2016

Raphael Benggio follows James Bloom, former chief executive at Regentsmead, who joined Masthaven as managing director of development finance in July. In a tweet dated 23rd August, Raphael said: &ld...

Challenger bank considers acquisitions after 115% profit surge
Posted on Wednesday August 24, 2016

A challenger bank has revealed that it’s in a strong capital position to make further accretive loan pool acquisitions

FCA targets unauthorised firm
Posted on Wednesday August 24, 2016

The Financial Conduct Authority (FCA) has warned the public of an unuathorised firm offering financial services

Octopus launches fintech investment lab
Posted on Wednesday August 24, 2016

‘Octopus Labs’ will help product-ready start-ups to hone and distribute their solutions, by providing mentoring, office space and access to Octopus Investments’ distribution channels...

Bridging lenders look to increase market share after Aldermore exit
Posted on Wednesday August 24, 2016

The challenger bank announced it would no longer be accepting bridging applications despite only launching its offering two years ago. Aldermore cited a change of focus to its core mortgage areas a...

Brexit impact yet to be seen in bridging, claims Stephen Johnson
Posted on Wednesday August 24, 2016

Speaking exclusively to Bridging & Commercial, Stephen explained the impact the EU referendum decision would have on the bridging finance and commercial mortgages market. “While the impac...

Atom Bank completes first commercial loan
Posted on Wednesday August 24, 2016

The bank, which launched in April, has provided a commercial loan to Rivergreen Management Pension Fund. The funding will be used to acquire the long lease of an industrial property in Hartlepool. ...

Hampshire Trust announces plans for HQ expansion
Posted on Wednesday August 24, 2016

The bank will move from its current 7,500 sq ft headquarters at 131 Finsbury Pavement to a newly refurbished 21,000 sq ft office at 55 Bishopsgate in early 2017. Mark Sismey-Durrant, CEO of Hampshi...

FCA announces proposed changes to client money rules for insurance
Posted on Tuesday August 23, 2016

The Financial Conduct Authority (FCA) has issued a statement to insurance firms regarding its consultation review on client money rules for insurance intermediaries.

Three new lenders set to enter mortgage market
Posted on Tuesday August 23, 2016

Three new lenders are planning on entering the mortgage market, a leading mortgage servicer has revealed

Tighter underwriting furthers second charge repossession drop
Posted on Tuesday August 23, 2016

The second charge mortgage market has been boosted by Finance & Leasing Association (FLA) research indicating that repossessions have fallen by 40% during the last quarter

Equifinance provides £100k second charge mortgage
Posted on Tuesday August 23, 2016

Equifinance has helped to improve three key aspects of a client’s finances by arranging a £100,000 second charge mortgage

Non-conforming loans on the rise, claims lender
Posted on Tuesday August 23, 2016

Growing confidence among lenders has led to a rise in non-conforming loans, according to Jeff Knight, head of marketing at Pepper Homeloans

18 million adults issued with a default on debt
Posted on Tuesday August 23, 2016

Almost two-fifths of UK adults have been issued with a default in the last year

MP slams Help to Buy Isa
Posted on Tuesday August 23, 2016

In a letter addressed to Gavin Barwell, the new housing minister, Tottenham MP David Lammy alleged that the Government’s affordable home ownership schemes’ website stated that the Help to ...

Together slashes second charge mortgage rates
Posted on Tuesday August 23, 2016

Specialist lender Together has announced new lower rates for first and second charge mortgages

Bank of England to hire fintech research head
Posted on Tuesday August 23, 2016

The Bank of England is on the lookout for someone to lead its economic research on digital currency

LendInvest appoints first VP of HR
Posted on Tuesday August 23, 2016

Before her recruitment by LendInvest, Erin was head of HR for EMEA and APAC at Essence, the global digital agency and independent buyer of digital media . During her time at Essence, Erin oversaw t...

The AA launches fixed rate mortgage range
Posted on Tuesday August 23, 2016

The British motoring association the AA has launched a range of mortgage products for the first time

Football club partners with lender
Posted on Monday August 22, 2016

Sunderland AFC has announced that online lender Satsuma Loans are to become an official partner of the club in the financial services sector

Bank suffers losses over false invoices
Posted on Monday August 22, 2016

A father and daughter duo have been disqualified for a total of 16 years for raising false invoices

Bank replaces CEO
Posted on Monday August 22, 2016

The former head of Handelsbanken UK will take up the position with immediate effect following the departure of Frank Vang-Jensen. Mr Vang-Jensen departs after the bank’s board unanimously dec...

Ultimate Finance breaks £100m lending barrier
Posted on Monday August 22, 2016

Despite the challenging conditions following Brexit, the lender has managed to exceed the landmark with the figure 30% higher than last year. Ultimate Finance also reported that it has seen its cli...

London Property Finance Conference 2016: programme revealed
Posted on Monday August 22, 2016

The half-day event will take place on Wednesday 7th September 2016 between 2-7pm at The Building Centre in central London.  The London Property Finance Conference is supported by the Associati...

Over half of brokers express post-Brexit optimism
Posted on Monday August 22, 2016

The survey of over 300 asset, bridging, mortgage and development finance brokers did, however, find that 31% of brokers were worried about the future of the UK, while 13% didn’t expect much chan...

FCA expert to speak at ASTL conference
Posted on Monday August 22, 2016

Lynda is the manager of the mortgages sector team and will be speaking at Painters’ Hall in London on 22nd September 2016.  Lynda is responsible for monitoring the developments in the UK...

Blockchain should not be considered a ‘panacea’ for financial services
Posted on Monday August 22, 2016

Distributed ledger technology (DLT) should not be considered a solution for all the problems in financial services, according to a report by the World Economic Forum

56% call for mortgage digitalisation
Posted on Monday August 22, 2016

Figures released by new digital mortgage provider BlueZest found that 49% of respondents believed mortgage applications take too long, while 56% claimed that the sector requires digital innovation. ...

Highest rental yields for student property found outside London
Posted on Friday August 19, 2016

Research by LendInvest has found the best areas in England and Wales for letting property to university students

UTB chairman to retire
Posted on Friday August 19, 2016

Mr Clegg has been chairman of the board of directors at UTB since 2001, when the bank was acquired by Insinger de Beaufort.  The 80-year-old has served on the board of directors at the likes o...

Best student towns for landlords found outside London
Posted on Friday August 19, 2016

The data in LendInvest’s Buy-to-Let Index found that Sunderland, home to the University of Sunderland, averaged the highest rental yields. The research also found that Sunderland was the chea...

Financial businesses bypass City of London for offices
Posted on Friday August 19, 2016

Stirling Ackroyd – an independent firm of specialist estate agents operating across central London and the City fringes – has released its top 10 postal districts with the highest number o...

Simon Juniper launches new bridging broker
Posted on Friday August 19, 2016

Bridge Finance Direct is headed up by vice chairman of the Association of Bridging Professionals, Simon Juniper, and Platinum Options directors Tony Bunting and Danny Antoniou. The brokerage, which...

Ex-Amicus manager joins Seneca Bridging
Posted on Friday August 19, 2016

Mark had previously been the relationship manager at Amicus Finance having joined the specialist lender’s Preston office in October last year, shortly after it was rebranded from Mayfair Bridgin...

Simon Juniper launches new bridging broker
Posted on Friday August 19, 2016

Simon Juniper has today launched a new brokerage with a management team boasting over 80 years’ worth of experience

Property law firm partners with cricket club
Posted on Friday August 19, 2016

Warwickshire County Cricket Club has announced it has signed a two-year agreement with FBC Manby Bowdler Solicitors

OakNorth funds almost £50m worth of deals post-Brexit
Posted on Thursday August 18, 2016

Since the UK voted to leave the EU, OakNorth has closed deals including a £19m one with fast-food chain Leon, one worth £10.5m with SGS Hotels, as well as an undisclosed deal with the Indi...

Lack of business funding blights nightclub market
Posted on Thursday August 18, 2016

The specialist lender found that turnover for the nightclubs had fallen to £340m in 2015, compared with £373m in 2014.  Ortus attributes the fall to increased competition from bars...

Mobile bank to crowdfund £20m after securing licence
Posted on Thursday August 18, 2016

This will be the second round of crowdfunding launched by Mondo, after raising £1m in just 96 seconds earlier this year. Mondo needs to raise the investment capital required for life as a ful...

AMI urges FCA to take ‘mortgage prisoners’ seriously
Posted on Thursday August 18, 2016

The Association of Mortgage Intermediaries (AMI) has encouraged the Financial Conduct Authority (FCA) to reassess the issue of ‘mortgage prisoners’

Metro Bank partners with LDF
Posted on Thursday August 18, 2016

Metro Bank has collaborated with SME funder LDF to provide £30m of funding over the next 18 months to the professional services sector. The announcement follows the launch of Metro Bank&rsquo...

Williams & Glyn cancellation to hit 3000 jobs at tech firm
Posted on Thursday August 18, 2016

A technology firm that was assisting RBS with its Williams & Glyn launch has revealed that 3,000 jobs will be impacted by the bank’s decision not to set up the new lender

Global bank trains scores of bankers on alternative finance
Posted on Thursday August 18, 2016

Singapore-based United Overseas Bank (UOB) has trained over 100 of its commercial bankers to advise clients about sources of alternative funding

10 Questions with Gary Latham of UK Property Finance
Posted on Thursday August 18, 2016

Bridging & Commercial Distributor caught up with Gary Latham, owner of UK Property Finance, to find out more about the broker’s expansion plans

Exclusive: P2P adviser rebrands website
Posted on Thursday August 18, 2016

Peer-to-peer and crowdfunding adviser Racefields has announced it is relaunching its website as it looks to help businesses and individuals discover more about alternative finance

Lloyds Commercial Banking launches online quote calculator
Posted on Wednesday August 17, 2016

The hire purchase quote calculator, which provides businesses with indicative quotes in seconds, was developed by Lloyds’ Global Transaction Banking. The calculator can be used for a variety ...

Dragonfly funds £18.5m acquisition bridge
Posted on Wednesday August 17, 2016

The two-year acquisition bridge was packaged by Kit Thompson at Brightstar after it was introduced by Tony Ibson of Simply New Build, a provider of niche lending solutions for clients in the UK. Dr...

Aldermore pulls out of bridging market
Posted on Wednesday August 17, 2016

Bridging & Commercial can confirm that Aldermore will no longer be accepting bridging applications as of 1st September 2016. The move comes as a result of the lender changing its focus on its c...

Step One Finance recruits head of commercial development
Posted on Wednesday August 17, 2016

Specialist lender Step One finance has appointed Steve Khan as head of commercial development and a number of new recruits to its underwriting and operational teams

Exclusive: Second charge broker opens NI office
Posted on Wednesday August 17, 2016

Loan.co.uk has announced it has opened a Northern Ireland branch, which will provide second charge mortgage services to local brokers

Loan Talk Awards 2016: How does it all work?
Posted on Wednesday August 17, 2016

Loan Talk is hosting its third annual awards ceremony on 12th January 2017 at 8 Northumberland in London. In keeping with the evolution of the market, we have renamed the event the Loan Talk Second Charge Mortgage Awards.

Acquisition set to create ‘largest’ private mortgage insurer
Posted on Wednesday August 17, 2016

Arch Capital Group has announced it has entered into an agreement to acquire United Guaranty Corporation (UGC) and AIG United Guaranty Insurance (Asia) from its current owner AIG

Second charge mortgage repossessions fall 40%
Posted on Wednesday August 17, 2016

Second charge mortgage repossessions fell by 40.3% during the second quarter of 2016, according to research from the Finance & Leasing Association (FLA)

Step One recruits head of commercial development
Posted on Wednesday August 17, 2016

Specialist lender Step One Finance has appointed Steve Khan as head of commercial development and a number of new recruits to its underwriting and operational teams

Bank CEO steps down ahead of merger
Posted on Wednesday August 17, 2016

Alex Thursby left the bank shortly after directors recommended to merge with First Gulf Bank (FGB) last month.  NBAD has revealed that Abhijit Choudhury, group chief risk officer, has been app...

Article 50 delays could lead to more uncertainty, warns specialist lender
Posted on Wednesday August 17, 2016

Ashley’s warnings followed a poll conducted by United Trust Bank, which found that 47% of brokers do not expect Theresa May to begin the process of withdrawing from the EU until early 2017, whil...

UK office rents remain stable
Posted on Wednesday August 17, 2016

Lambert Smith Hampton’s (LSH) UK Office Market Pulse has revealed that rental levels were being supported by an ongoing shortage of good-quality stock across the markets.  The 15 markets...

Affirmative produces 50-year property market timeline
Posted on Wednesday August 17, 2016

The timeline portrays the key areas and times that have seen the biggest changes, while also showing how drastic the change in the property market has been compared to other areas of the economy. A...

Voting opens for Loan Talk Second Charge Mortgage Awards 2016
Posted on Wednesday August 17, 2016

The day you’ve all been waiting for has arrived

GLI Alternative Finance rebrands
Posted on Tuesday August 16, 2016

The rebrand follows news that the fund enjoyed a busy July in terms of origination, with loans being proposed from five different platforms. European loan exposure also increased marginally with tw...

Platform Black appoints ex-Aldermore sales director
Posted on Tuesday August 16, 2016

Richard Whitehouse brings over 18 years of experience in invoice finance, asset-based lending and trade finance, having previously served as a regional sales director at Aldermore Bank. The new rec...

Thousands of pounds returned to failed credit union members
Posted on Tuesday August 16, 2016

Thousands of members of a failed credit union have been reimbursed by the Financial Services Compensation Scheme (FSCS)

The great debate: Intermediaries rate second charge packagers
Posted on Tuesday August 16, 2016

Intermediaries have praised the expertise and ease of process from packagers and master brokers, despite the ongoing argument that higher fees have purportedly been putting brokers off

SortRefer appoints relationship manager
Posted on Tuesday August 16, 2016

Online conveyancing portal SortRefer has appointed Jessica Szczelkun as its relationship manager

Enterprise enhances broker portal
Posted on Monday August 15, 2016

Master Broker Enterprise Finance has announced it has upgraded its recently launched Apex broker portal

Post-Brexit commercial property activity plummets
Posted on Monday August 15, 2016

Activity in the commercial property market has dropped by 18% in July, according to figures released by real estate adviser Savills

68% of bankers fear PSD2
Posted on Monday August 15, 2016

More than two-thirds of bankers are uncertain about the adoption of the revised Directive on Payment Services (PSD2), according to research by audit firm PwC

FCA authorises new peer-to-peer lender
Posted on Monday August 15, 2016

Unlike many other platforms, Peer Funding did not trade under interim permission, but instead completed a full application process. The firm will now launch a new P2P business debt funding platform...

Brexit voted biggest threat to specialist lending
Posted on Monday August 15, 2016

Bridging & Commercial’s latest online poll found that 39% of finance professionals saw Brexit as the biggest threat to alternative lenders with regulation (25%) and competition barriers (14%...

Ex-FCA chief concerned over P2P growth
Posted on Monday August 15, 2016

In a letter to the Treasury Committee, Tracey she expressed concerns that the rapid growth of the P2P marketplace could impact on the level of investor understanding. “We do have concerns tha...

Alternative Bridging completes sweep of multi-million pound loans
Posted on Monday August 15, 2016

Alternative Bridging’s largest deal saw a £3.8m refinancing loan for a luxury apartment close to Lord’s cricket ground after the original bridging loan had expired and the existing l...

Shawbrook reports stable investor confidence
Posted on Monday August 15, 2016

The bank’s client barometer explored the views of property professionals in the wake of the UK’s decision to leave the European Union. It found that 57% of property investors were confi...

Major deal saved from collapse after Brexit
Posted on Monday August 15, 2016

The loan was required to complete two projects: the conversion of a redundant textile mill into 150 high-quality student pods, and the conversion of a second mill into residential accommodation. Th...

FCA exposes unauthorised consumer credit firm
Posted on Monday August 15, 2016

The Financial Conduct Authority (FCA) has brought to the attention of the public a consumer credit firm it believes is carrying out activities without permission or authorisation

Ex-ezbob COO sets up new mortgage lender
Posted on Friday August 12, 2016

Set to launch later this year, BlueZest will aim to revolutionise the entire mortgage process for intermediaries by using cutting-edge technology and solutions to deliver a decision within 30 minutes....

Ex-ezbob COO sets up new mortgage lender
Posted on Thursday August 11, 2016

Set to launch later this year, BlueZest will aim to revolutionise the entire mortgage process for intermediaries by using cutting-edge technology and solutions to deliver a decision within 30 minutes....

Challenger bank reports residential mortgage slowdown
Posted on Thursday August 11, 2016

The challenger bank revealed in its half-year report that despite origination for residential mortgages being robust, there was a 14% drop compared with the same period last year. Aldermore, howeve...

Adviser platform sold for £140m
Posted on Thursday August 11, 2016

Legal & General has confirmed it has sold its investment platform for advisers to Aegon for £140m

Investment management firm has permission cancelled
Posted on Thursday August 11, 2016

The Financial Conduct Authority (FCA) has cancelled the permission of an investment management firm

Fintech: ‘Trust cannot be earned overnight’
Posted on Thursday August 11, 2016

Lenders claim that more needs to be done for fintech to earn the trust of the general public

Adviser secures property for Manchester cat café
Posted on Thursday August 11, 2016

Commercial property adviser Bilfinger GVA has successfully acquired what it claims is Manchester’s first ever ‘cat café’

Credit union stops trading
Posted on Thursday August 11, 2016

Around 5,200 account holders have been affected by the closure of a credit union

Conveyancing service launches mobile app
Posted on Thursday August 11, 2016

The conveyancing and concierge service for estate agents Property Butler has launched a new mobile app that allows property professionals to quote conveyancing costs in seconds

New commercial property crowdfunder launches
Posted on Wednesday August 10, 2016

The crowdfunding firm was founded by chartered surveyor James Nichols, who has 15 years of experience in real estate investment.  James is the company’s Financial Conduct Authority-autho...

New SME lender launches
Posted on Wednesday August 10, 2016

Wirefund will provide loans to help protect and grow small- and medium-sized businesses by keeping their cash flowing. The lender’s loans will be unlike other providers and will not be secure...

Exclusive: Kuflink recruits ex-Kent Reliance underwriter
Posted on Wednesday August 10, 2016

Danielle Comrie, who also spent time with Kent Reliance as a broker liaison coordinator, will join Kuflink as its new senior case manager. The move comes after Kuflink rebranded from Alpha Bridging...

Borro rescues client with £240k loan
Posted on Wednesday August 10, 2016

The lender received an inquiry on a Friday afternoon from Kind Commercial, whose client needed funds for their business.  The client owned a semi-commercial property and faced a tight deadline...

Bridging applications reach £3.5bn in Q2
Posted on Wednesday August 10, 2016

The ASTL has found that the value of applications in Q2 totalled £3.5bn, which eclipsed the December quarter.  The figures show that despite concern in the mainstream market in the run u...

Panel calls for FCA to take on banks after CMA report
Posted on Wednesday August 10, 2016

Yesterday, the CMA said it would be imposing a package of measures to ensure banks worked harder for customers. It’s hoped that the measures will improve competition in the banking sector for...

CCJs surge shows need for financial help
Posted on Wednesday August 10, 2016

The rise in the number of county court judgements (CCJs) has shown that customers still need help with debt management and provision for access to financial products, according to Equifinance

Law firm launches tool to speed up fintech regulation
Posted on Wednesday August 10, 2016

Plans for a regulatory accelerator for fintech firms have been launched by a law firm

LendInvest: What landlords can learn from Brexit vote
Posted on Wednesday August 10, 2016

Interestingly, the results throw up a clear divide. If a landlord is most concerned with rental yield, then Brexit districts offer by far the best returns. Just two of the top 20 districts for rental ...

Major bank union slams pension sex discrimination
Posted on Tuesday August 09, 2016

A trade union is preparing a class action lawsuit to present to the Employment Tribunal about allegedly discriminatory pension schemes

Will there be a second charge mortgage boost following interest rate cuts?
Posted on Tuesday August 09, 2016

Brokers who advise customers to remortgage low base rate trackers would be “clinically mad”, according to Martin Stewart, director of London Money Loans

Trend: Landlords with larger portfolios on the rise
Posted on Tuesday August 09, 2016

Buy-to-let landlords are beginning to favour larger portfolios, according to new research

Nine million adults suffer debt problems
Posted on Tuesday August 09, 2016

Nine million adults in the UK think they have a debt problem, new research has revealed

Regulation that you can’t afford to get wrong
Posted on Tuesday August 09, 2016

Samuel Johnson knew a lot about words, but when he compiled ‘A Dictionary of the English Language’ back in 1755, he knew very little about being poor

Precise poker night raises over £11,000 for charity
Posted on Tuesday August 09, 2016

The lender hosted a poker night that raised £3,540, alongside a silent auction that added £2,050 to the total. Precise then matched the money raised to bring the final tally to £11,1...

Duncan Kreeger leaves West One
Posted on Tuesday August 09, 2016

Duncan explained that it had always been his intention to leave West One following its integration into the Enra Group in 2014, and that he would now focus on other business interests. Danny Waters...

CMA imposes mobile banking revolution in final report – industry responds
Posted on Tuesday August 09, 2016

Following a two-year enquiry, the report of the retail banking market investigation concluded that older and larger banks do not have to compete hard enough for customers’ business, while challe...

Seven million homeowners could face financial risks
Posted on Tuesday August 09, 2016

Over seven million UK homeowners have taken a serious financial risk by choosing not to have their current property surveyed, according to new research

Adviser team wins major regeneration contract
Posted on Tuesday August 09, 2016

The real estate adviser team from KPMG has been appointed as financial and property adviser on what it claims is the UK’s largest regeneration project outside of London

Property Partner to launch ‘bidding engine’ for investors
Posted on Monday August 08, 2016

Property Partner’s real estate ‘stock exchange’ launched to the public in January 2015, and boasts over 8,000 investors, investing more than £35m across 234 properties in the U...

Lender assists rugby star with specialist property development
Posted on Monday August 08, 2016

Xavier trained as a builder before becoming a professional rugby union player and has completed listed conversions before. Ashley Ilsen, head of lending at Regentsmead, said: “It’s grea...

Fortwell expands senior team and refreshes products
Posted on Monday August 08, 2016

Arthur Jennings adopts the newly created head of development finance role, having previously served as a relationship manager at Qatar National Bank. Reporting to Arthur will be senior analyst Niko...

Government to change how it values non-domestic properties
Posted on Monday August 08, 2016

The decision means that the Valuation Office Agency is now legally obliged to treat different areas of the same building that are accessed through communal areas as separate premises. Occupiers of ...

FCA authorises guarantor lender
Posted on Monday August 08, 2016

Guarantor lender 1Plus1 Loans has secured full authorisation from the Financial Conduct Authority (FCA)

Breach halts trading at bitcoin exchange platform
Posted on Friday August 05, 2016

Speaking on the online forum Reddit, Zane Tackett, director of community and product development at Bitfinex, claimed that 119,756btc had been stolen in the breach. Though the site was initially ta...

Brexit boosts first-time buyer market, but bridging cools
Posted on Friday August 05, 2016

In figures released by Connells Survey & Valuation, first-time buyer valuations and remortgage activity grew by 12% in July 2016 compared with the same month last year. Buy-to-let valuations fe...

Theresa May asks SMEs to share views on Brexit negotiations
Posted on Thursday August 04, 2016

In a round-table meeting at Downing Street, the PM highlighted that SMEs are “the backbone of the British economy” and that they should seize the opportunities which have been presented by...

Aldermore appoints new relationship manager
Posted on Thursday August 04, 2016

Maria Betti has over 16 years of experience in financial services and joins Aldermore from Momentum Pensions, where she worked in the SIPP & SSAS market. Maria has previously worked for Curtis ...

Fluent Money appoints new finance director
Posted on Thursday August 04, 2016

Second charge distributor Fluent Money has appointed a new finance director

Broker launches commercial property division
Posted on Thursday August 04, 2016

Equipment finance broker Tower Leasing has announced the launch of a new property division

Vantage appoints new finance director
Posted on Thursday August 04, 2016

Master broker Vantage Finance has announced the recruitment of a new finance director to help steer its wider growth plans

Fintech – the sector to watch in H2
Posted on Thursday August 04, 2016

The Magister Advisors H1 report has highlighted fintech as one of the sectors to watch during the second half of 2016

Valuation Corner: The importance of winning
Posted on Thursday August 04, 2016

We have all done it – repeated the age old line ‘it’s the taking part that counts’

Mortgage market unites
Posted on Thursday August 04, 2016

If one had to find a word to sum up the mortgage market this year – and wanted to remain somewhat optimistic – that word would be ‘unity’

Bank of England cuts interest rates to 0.25% – industry responds
Posted on Thursday August 04, 2016

This is the first time the bank rate has been changed from 0.5% since March 2009. Last month there was an attempt to cut rates to 0.25%, where eight MPC members voted against such a move. Alongi...

Lender launches new platform with Money Advice Service
Posted on Thursday August 04, 2016

Short-term lender The Money Shop has launched an independent online money management platform

Hampshire Trust Bank reports £1.3m pre-tax profits
Posted on Wednesday August 03, 2016

HTB also announced that total assets had increased by 60% to £389m by 30th June 2016, compared with £243m at the end of 2015, while loan assets increased by 75% to £311m (£178m...

Shawbrook completes loan in two days
Posted on Wednesday August 03, 2016

The loan was brokered via Shawbrook’s broker partner Springview Finance at a gross loan value of £234k at an LTV of 67%. Initially there were concerns about payments into the customer&rsqu...

Precise slashes BTL rates
Posted on Wednesday August 03, 2016

The firm has reduced its HMO rates by up to 0.6% pa, while limited company rates were cut by up to 0.55% pa. Precise has also introduced a new two-year fixed rate at 2.79% pa with a 1.5% product fe...

The Loans Engine processes first loan under new fee structure
Posted on Wednesday August 03, 2016

Specialist finance broker The Loans Engine has paid out its first loan under its new £295 application fee structure

Precise slashes BTL rates
Posted on Wednesday August 03, 2016

Specialist lender Precise Mortgages has announced a number of changes to its houses in multiple occupation (HMO) and limited company buy-to-let (BTL) products

Brightstar launches invoice and asset finance arm
Posted on Wednesday August 03, 2016

Following growing demand, Brightstar has launched an invoice and asset finance arm

Master broker relocates amid expansion
Posted on Wednesday August 03, 2016

Commercial and bridging finance master broker Charleston Financial has completed its move to a larger office as it looks to continue its growth plans

Lender dubs £2.8bn pulled from funds a ‘knee-jerk reaction’
Posted on Wednesday August 03, 2016

Figures from The Investment Association also revealed that £1.4bn was withdrawn from property funds, resulting in a 5.7% outflow. The Investment Association claimed Brexit had unsettled ...

LendInvest urged to relocate to Berlin following Brexit
Posted on Wednesday August 03, 2016

A letter addressed to co-founder Christian Faes from Cornelia Yzer, German senator for economics, technology and research, claimed that Berlin’s “dynamic” economic location was the p...

P2P lending dip blamed on economic uncertainty and authorisation process
Posted on Wednesday August 03, 2016

The Peer to Peer Finance Association (P2PFA) revealed that new lending fell to £658m in Q2 compared to £715m. New lending to businesses fell to £406m from £445m, while new l...

Borro funds £555k loan to overseas resident
Posted on Wednesday August 03, 2016

The loan was secured against two valuable rings owned by a European art collector who faced an unexpected bill and needed to raise funds quickly. Representatives of Borro travelled to Europe the da...

Exclusive: Masthaven Bank sets sights on mainstream development market share
Posted on Tuesday August 02, 2016

The 30-strong development team is set to launch this summer as it evolves into Masthaven Bank and will be headed up by its new managing director of development finance, James Bloom. In an exclusive...

FCA sets PPI deadline
Posted on Tuesday August 02, 2016

If after assessing further feedback the FCA proceeds with the proposals, it expects the deadline to be set for the end of June 2019. The package of proposals included introducing a deadline for new...

Master broker celebrates record month
Posted on Tuesday August 02, 2016

Second charge master broker Smart Money has celebrated achieving a record month for completions in July

Network sells 49% stake in adviser firm
Posted on Tuesday August 02, 2016

Appointed representative network Mortgage Advice Bureau (MAB) has announced the sale of a 49% stake in advisory firm Capital Private Finance (CPF)

Regentsmead announces new COO
Posted on Tuesday August 02, 2016

Sam Howard has been promoted to the role after joining the principal lender in 2011 following the completion of an MBA from Saïd Business School, Oxford.  Having served as a director of R...

Paragon reveals major secured lending jump
Posted on Tuesday August 02, 2016

Paragon Bank has reported a considerable increase in its secured lending volumes

Broker calls for FCA to offer no-claims discount
Posted on Tuesday August 02, 2016

The Financial Conduct Authority (FCA) should consider introducing a no-claims discount in order to make regulatory fees better value for money, according to Martin Stewart, director of mortgage adviser London Money

How do negative interest rates affect second charge mortgages?
Posted on Tuesday August 02, 2016

The second charge mortgage market is expected to benefit if banks decide to introduce negative interest rates, according to Norton Finance

Regulatory complaints soar 15%
Posted on Tuesday August 02, 2016

Complaints and enquiries to the Complaints Commissioner about the Financial Conduct Authority (FCA) and Financial Services Authority (FSA) rose 15% over the past year

Two directors banned after deceiving short-term lenders
Posted on Monday August 01, 2016

Michael Joseph Bell, 41, of Chester-le-Street in County Durham, and 44-year-old Gavin Rupert Kipling, of Darlington, were found by the Insolvency Service to have provided altered bank statements to ob...

Most common bridging valuation mistakes revealed
Posted on Monday August 01, 2016

Speaking exclusively to Bridging & Commercial, Stephen has also offered his views on what impact Brexit will have on property valuations. What are the common mistakes you noticed in bridging fi...

Alternative Bridging defies Brexit with bumper month
Posted on Monday August 01, 2016

The lender managed to complete two loans during the holiday period within a week of them being introduced, while a busy afternoon during the last working day of July saw Alternative Bridging complete ...

Bridgebank appoints ex-Barclays manager
Posted on Monday August 01, 2016

Sarah Fisher joins Bridgebank from Barclays Corporate, and will bring with her an extensive London-wide developer and introducer network. Her appointment follows a recruitment drive launched last m...

Investors positive Theresa May can restore confidence
Posted on Monday August 01, 2016

Last month it was revealed that Brexit had led to a drop in domestic and foreign investor demand. However, in a survey of 2,000 personal investors, the stockbroker The Share Centre found that 81% b...

Catalyst increases funding to SMEs
Posted on Monday August 01, 2016

The Stroud-based firm also revealed that it had achieved a 91% increase in the number of invoices purchased and loans made in the last 12 months, with its total funds advanced reaching £260m by ...

Platform Black to rebrand after £50m cash injection
Posted on Monday August 01, 2016

Platform Black will be renamed Sancus Finance Limited at the end of this year after the GLI Finance-owned group purchased an additional 10% of shares from minority investors, taking its holding to 93....

Tyrie brands FCA audits as concerning
Posted on Monday August 01, 2016

The Treasury Committee has slammed the Financial Conduct Authority (FCA) for falling short of acceptable standards after publishing its latest internal audit report summaries

Dragonfly expands risk team
Posted on Monday August 01, 2016

Dan Throne joins Dragonfly from Bluestone Mortgages, where he had served as a mortgage underwriter, while former loans executive Edward Machan joins from Regentsmead. Mark Posniak, managing directo...

Stonebridge establishes new AR packager panel
Posted on Monday August 01, 2016

Mortgage and insurance network Stonebridge Group has announced the creation of a new mortgage packager panel for its appointed representative (AR) firms

Major bank’s profits dive
Posted on Friday July 29, 2016

Profit before tax for the first half of the year has tumbled from £2.6bn last year to £2bn. Barclays also stated that it had set aside an additional £400m in provisions for U...

Lender reports record growth
Posted on Friday July 29, 2016

Coventry Building Society has reported record mortgage advances of £4.8bn in the first half of 2016 and net lending of £2bn

Connaught liquidators clinch £18.5m from Capita
Posted on Thursday July 28, 2016

A former operator of the failed Connaught Income Series 1 Fund has settled an £18.5m claim with the liquidators

Niu Solutions: The success of a challenger bank should not rely on fintech alone
Posted on Thursday July 28, 2016

Peter Gee, managing director of technology firm Niu Solutions, explains the importance of fintech for the influx of challenger banks arriving on the scene, while emphasising that it should not be solely relied upon

Law firm continues expansion with new office
Posted on Thursday July 28, 2016

Shoosmiths has announced it will be opening a new office in Leeds as part of its ongoing growth strategy

Crystal reports surge in overseas enquiries
Posted on Thursday July 28, 2016

Crystal Specialist Finance recently partnered with Precise Mortgages to provide valuable market knowledge for London-based brokers

Broker dismisses Brexit fears with record results
Posted on Thursday July 28, 2016

Wealthcare has produced record half-year results for its corporate finance arm in the run up to Brexit

Pro-Brexit towns considered best landlord investment
Posted on Thursday July 28, 2016

The online property investment business has released quarterly reports comparing the rental yield and capital gains of areas across England and Wales since 2010. However, in this edition, LendInves...

Growth Street CEO ‘sceptical’ of firms which reject APRs
Posted on Thursday July 28, 2016

In an exclusive interview with Bridging & Commercial, James responded to criticism the CMA has received over its proposals revealed in May.  Proposals included increasing the transparency ...

FCA investigates major bank
Posted on Thursday July 28, 2016

Lloyds Banking Group has confirmed it is currently under investigation by the Financial Conduct Authority (FCA)

Misleading adviser firm wound up
Posted on Thursday July 28, 2016

A repossession and eviction adviser has been wound up in the High Court

Shawbrook profits grow 14% despite £9m impairment charge
Posted on Wednesday July 27, 2016

Last month, Shawbrook revealed that it expected to pay a £9m impairment charge due to irregularities in one of its asset finance offices. Shawbrook’s profit before tax rose from £...

Businessman forced to give up property
Posted on Wednesday July 27, 2016

A businessman has been ordered to hand over the keys to his property after it was found to have been purchased through the proceeds of crime

Specialist lender secures multimillion-pound funding line
Posted on Wednesday July 27, 2016

The facility from British Business Bank Investments is expected to increase Cheshire-based Kingsway’s leasing capacity by up to £25m. Keith Morgan, chairman of BBB Investments, said: &l...

Ex-commercial manager joins bridging lender after 30 years at NatWest
Posted on Wednesday July 27, 2016

Sue Barron joins BFS following a 30-year stint at NatWest, where she had most recently served as business and commercial manager. Sue said: “This is a huge leap for me, but one that I’m...

Commercial property sees ‘cooler heads’ begin to return
Posted on Wednesday July 27, 2016

The Royal Institution of Chartered Surveyors (RICS) Q2 UK Commercial Property Market Survey found that the industry has seen a significant drop in confidence and investor demand following the Brexit v...

FCA takes action against 54 consumer credit promotions
Posted on Tuesday July 26, 2016

An investigation undertaken by Loan Talk has revealed The Financial Conduct Authority (FCA) has revealed that 54 consumer credit promotions have been amended or withdrawn as a result of complaints over the past year

FLA welcomes FCA’s plans to improve authorisation process
Posted on Tuesday July 26, 2016

The Finance & Leasing Association (FLA) has welcomed the Financial Conduct Authority’s (FCA) decision to improve the authorisation process for consumer credit firms

Mortgage network launches DA service
Posted on Tuesday July 26, 2016

Mortgage network Stonebridge has launched a new proposition for directly authorised (DA) advisers

In the Spotlight with Graham Donald of Equiniti Pancredit
Posted on Tuesday July 26, 2016

Loan Talk caught up with Graham Donald, managing director of Equiniti Pancredit, to find out more about how it is helping brokers and lenders update its technology

How will the new housing minister affect second charges?
Posted on Tuesday July 26, 2016

The appointment of Gavin Barwell as the new housing minister raises some wider questions on the subject of housing policy for this government over the coming months and years

RBS may impose charges on deposits
Posted on Tuesday July 26, 2016

NatWest and Royal Bank of Scotland (RBS) have warned business customers that they could face negative interest rates if the Bank of England base rate falls below zero

Treasury Committee calls for new regulator to take FCA’s enforcement powers
Posted on Tuesday July 26, 2016

The Treasury Committee has reported that the case for a new independent enforcement body has been strengthened after slamming the Financial Services Authority (FSA) for failing to instigate a full review into the collapse of HBOS and RBS in 2008

Non-dom client profits from £2.2m Borro loan
Posted on Monday July 25, 2016

In January, the lender extended a 74% LTV based on a valuation of £2.9m for a new-build property just off Victoria Street, Westminster. The loan was redeemed by the client last week after sel...

Roma hires ex-Together MD
Posted on Monday July 25, 2016

The bridging lender has revealed that it has hired Steve Baker, who in a previous role held the position of Managing Director of Together’s retail division, as a non-executive director and Simon...

FCA signs fintech agreement with Korean regulator
Posted on Monday July 25, 2016

A new fintech bridge has been created to make it easier for the UK and South Korea to invest in fintech and help firms and investors access the Asian market

Mobile challenger bank wins banking licence
Posted on Monday July 25, 2016

The Berlin-based firm has been renamed N26 after being awarded a full German banking licence by the Federal Financial Supervisory Authority and the European Central Bank.  Valentin Stalf, foun...

Affirmative appoints ex-Hope BDM
Posted on Monday July 25, 2016

Jim Wylie joins Affirmative from Hope Capital and brings with him over 25 years of experience in the industry. Eugene Esterkin, managing director of Affirmative, said: “Jim is an excellent ad...

62% of brokers report rise in bridging volumes post-MCD
Posted on Monday July 25, 2016

The bridging lender’s broker sentiment survey found that 42% felt development projects were the main reason for taking out a bridging loan, which was followed by mortgage delays at 25%. The s...

UK SMEs shrug off Brexit concerns
Posted on Monday July 25, 2016

Figures released by the alternative lender have seen that application volumes for its finance facilities were running at 28% higher than in the week leading up to the Brexit vote. The figures come ...

Together appoints two more executives
Posted on Friday July 22, 2016

Brian Jackson has been appointed operations director for retail activity, while John Hunt joins as chief risk officer in the retail division. Brian joins from British Gas, where he was director of ...

Five major banks pledge to work with new Department for International Trade
Posted on Friday July 22, 2016

Barclays, HSBC, Lloyds, NatWest and Santander will encourage business customers to join a new directory of exporters, linking UK companies with contacts around the world.  Liam Fox, secretary ...

Authorised credit broker cloned
Posted on Friday July 22, 2016

The Financial Conduct Authority (FCA) has issued a warning to consumers after a credit broker was cloned

Synergy Commercial Finance partnership offers pension-led funding
Posted on Friday July 22, 2016

Clifton Asset Management has joined Synergy Commercial Finance’s broker network to provide pension-led funding to SMEs

Paradigm adds Foundation Home Loans to lender panel
Posted on Thursday July 21, 2016

Paradigm members will now have access to Foundation’s product range, including limited company and personal products available at the same rate. Other key features from Foundation’s pro...

Master brokers praise MCD after conversion rates boost
Posted on Thursday July 21, 2016

Master brokers have reported that the implementation of the Mortgage Credit Directive (MCD) has resulted in a better application to completion conversion rate

Paradigm adds Foundation Home Loans to lender panel
Posted on Thursday July 21, 2016

Mortgage services proposition Paradigm Mortgage Services has announced the addition of specialist buy-to-let lender Foundation Home Loans to its lender panel

New property law firm launched
Posted on Thursday July 21, 2016

Four legal entrepreneurs have split from a regional practice to launch a new property law firm in Stockton-on-Tees

Law firms suffer 40% rise in cyber fraud losses
Posted on Thursday July 21, 2016

UK law firms have seen losses to cyber fraud rise by 40% over the past year, according to chartered accountant and business adviser Hazlewoods

Fintech start-ups should not treat compliance as an ‘afterthought’
Posted on Thursday July 21, 2016

Fintech entrepreneurs could squander start-up funds if they act too slow to engage with the Financial Conduct Authority (FCA), says FinTech Compliance founder Gilbert van Roon

IFA slams FCA’s response to Connaught complaint
Posted on Thursday July 21, 2016

An Independent Financial Adviser (IFA) has criticised a response letter he received from the Financial Conduct Authority (FCA) after complaining about how the regulator handled the Connaught Series 1 Income Fund collapse case

BoE adopting digital currency some way off
Posted on Thursday July 21, 2016

Distributed ledger technology blockchain and an “all-singing, all-dancing” digital currency are still some way off being used by the Bank of England, the Economic Affairs Committee has heard

Largest ever P2P loan reported to be funded
Posted on Wednesday July 20, 2016

The firm provided a £14.5m finance facility to the largest steel stockholder in the South East, Industrial Metal Services (IMS). Chirag Shah, CEO of Nucleus Commercial Finance, said: “T...

TFC hires key account manager for the North of England
Posted on Wednesday July 20, 2016

Wayne previously worked at Genesys Business Solutions, where he managed relationships with SMEs, large firms and FTSE 100-listed companies. At TFC he will manage the business relationships of TFC&rsqu...

Freedom recruits new MD
Posted on Wednesday July 20, 2016

Freedom Finance has announced it has strengthened its senior team with the appointment of a new managing director for its consumer finance business

TFC hires key account manager for the North of England
Posted on Wednesday July 20, 2016

Specialist distributor TFC Homeloans has recruited Wayne Bowler as a key account manager for the North of England

Crowdfunder granted authorisation in two countries
Posted on Wednesday July 20, 2016

CNMV, the regulatory body for the Spanish stock market, has granted authorisation to Crowdcube Spain, which means the platform has now become internationally regulated in two countries. Authorisati...

Brexit could be ‘silver lining’ for principal lenders
Posted on Wednesday July 20, 2016

Paul told Bridging & Commercial that financial uncertainty in the wake of the EU referendum could lead to a boost in business for principal lenders who did not rely on cautious funders. “...

Mint provides £400k re-bridge to client against the clock
Posted on Wednesday July 20, 2016

The client had bought a property in London that required a full renovation using a bridging loan in December 2015. They planned to fix up the property quickly and sell it on. However, due to unfore...

House prices increase by 8.1%
Posted on Tuesday July 19, 2016

Data from the Office for National Statistics and Land Registry have shown that average property price has risen to £211,230. London has experienced the greatest annual increase of 13.6%. Even...

Lender secures £7.2m investment from European backer
Posted on Tuesday July 19, 2016

MarketInvoice claims MCI’s investment is the first major example of fundraising from a P2P platform since the EU referendum. Anil Stocker, co-founder and CEO of MarketInvoice, said: “We...

BDMs and turnaround times most important to brokers
Posted on Tuesday July 19, 2016

The results come from a survey carried out by LendInvest throughout England and Wales, which asked brokers to rate on a scale of importance a series of individual factors they may consider when decidi...

New lender attracts 500 brokers in a week
Posted on Tuesday July 19, 2016

The Mortgage Lender has revealed that 500 brokers have registered to do business with them just a week after its launch

Packager issues terms on £509m of business in three months
Posted on Tuesday July 19, 2016

Crystal Specialist Finance (CSF) has achieved over half a billion pounds worth of issued terms in one quarter

Challenger bank names new directors
Posted on Tuesday July 19, 2016

OneSavings Bank has announced the appointment of two new non-executive directors to its board

9 out of 10 predict seconds lenders to move into first charge market
Posted on Tuesday July 19, 2016

Second charge lenders may be drawn to the first charge market by a desire to climb the “capital stack”, according to Michael Childress, CEO of Step One Finance

Exclusive: Fluent reports rise in new business post-Brexit
Posted on Tuesday July 19, 2016

Fluent for Advisers has reported it has seen a rise in new business since the Mortgage Credit Directive (MCD) was introduced and following the Brexit result

Shawbrook and The Loan Partnership complete loan in five days
Posted on Tuesday July 19, 2016

Shawbrook Bank’s residential mortgages team has worked with master broker The Loan Partnership to complete its first application using its new E-Signature service in just five working days

Commercial Lender appoints Global CFO
Posted on Monday July 18, 2016

Prior to his appointment, Jeremy had previously worked at Credit Suisse, as CEO of Nomura in Europe, Middle East and Africa and CEO of Nomura International. In his three-decade career in financial ser...

Challenger bank granted licence
Posted on Monday July 18, 2016

The mobile bank will launch by January 2017 and is the latest in the next generation of banks which look to disrupt the traditional banking model and streamline the way consumers manage their money. ...

Debt management directors disqualified
Posted on Monday July 18, 2016

A husband and wife team who acted as directors of a debt management firm have been disqualified for a combined total of 24 years after taking money out of client accounts

Challenger bank partners with Premier League club
Posted on Monday July 18, 2016

The challenger bank becomes the football club’s official retail finance services partner and will allow customers to take advantage of products such as Manchester United credit cards and savings...

Bridging lender trebles loan book
Posted on Monday July 18, 2016

The privately owned principal lender saw a boost following a surge in demand for short-term property finance in the run up to the stamp duty changes, while it also enjoyed an even more productive May ...

Exclusive: UTB joins Funding for Lending Scheme
Posted on Monday July 18, 2016

The scheme has enabled UTB to review the pricing for its asset finance offering, increasing the competitiveness of both its rates and commission structure via broker partners. Martin Nixon (picture...

P2P lender launches new website
Posted on Monday July 18, 2016

The peer-to-peer secured bridging lender has occupied a strong space in the second charge bridging market, where it offers 68% LTVs across residential owner occupied and buy-to-let properties. The ...

Shawbrook provides two bespoke loans for investor
Posted on Monday July 18, 2016

The firm initially provided a heavy refurbishment product of £428,000 on 18 months, interest only at a LTV in excess of 70% to convert the unit into three separate flats and a shop in 2014. D...

Freedom Finance launches bridging arm after acquisition
Posted on Friday July 15, 2016

The announcement coincides with the news that Freedom has agreed a deal to acquire Sensible Home Finance, which will be rebranded Freedom Mortgages. The new Bridging and Commercial arm has been cre...

Bridging lender secures significant funding line post-Brexit
Posted on Friday July 15, 2016

The funding will look to support the bridging lender’s ambitious growth plans and is one of the first such bridging lender transactions to take place since the result of the EU referendum. ...

Freedom Finance acquires Sensible
Posted on Friday July 15, 2016

Freedom Finance has expanded into the mortgage market with the acquisition of Sensible Home Finance (SHF)

BoE keeps interest rates on hold: Industry responds
Posted on Thursday July 14, 2016

Eight MPC members voted in favour of maintaining the current base rate, while just one voted for cutting it to 0.25%. Mark Harris, Chief Executive of SPF Private Clients, said a rate cut was widely...

Precise Mortgages launches retention programme with procuration fees
Posted on Thursday July 14, 2016

Specialist lender Precise Mortgages has launched a retention programme for customers at the end of their initial fixed or discount deals

FCA cancels payday lender’s interim permission
Posted on Thursday July 14, 2016

The Financial Conduct Authority (FCA) has decided to cancel the interim permission and ban the sole director of a payday lender

Law firm announces record turnover
Posted on Thursday July 14, 2016

A commercial law firm has confirmed it has seen a £5.5m increase in turnover during the past year

Commercial bank cloned
Posted on Thursday July 14, 2016

The Financial Conduct Authority (FCA) has warned consumers about fraudsters who have cloned some of the details of a commercial bank

Crystal appoints ex-HSBC manager
Posted on Thursday July 14, 2016

Crystal Specialist Finance has appointed Dan Morris as its key account manager as it looks to reaffirm its commitment to brokers

First 4 Bridging hires new head of sales & marketing
Posted on Thursday July 14, 2016

First 4 Bridging has announced the appointment of Michelle Douglas as its new head of sales & marketing

Master broker secures client £3.5m re-bridge
Posted on Thursday July 14, 2016

UK Property Finance has come to the aid of a property investor by providing him with a £3.5m re-bridge

Secure Trust reveals ‘limited appetite’ for commercial property lending
Posted on Wednesday July 13, 2016

Mark Carney, governor of the Bank of England, stated in his opening remarks that foreign capital flow into UK commercial property fell 50% during the first quarter of 2016, with share prices of proper...

Funding 365: Brexit, a market correction and its impact on bridging
Posted on Wednesday July 13, 2016

A new prime minister is in place and the feeling is that now we are almost in a position where we can start to address the monumental task in front of us. The FTSE 100 is now around 5.5% higher than i...

Wesleyan Bank appoints new board member
Posted on Wednesday July 13, 2016

Bill joins after spending 25 years in senior roles at Lloyds Bank, Experian and Santander, while in recent years he has been engaged as a strategic consultant in developing a governance and execution ...

Alternative Bridging recruits marketing manager
Posted on Wednesday July 13, 2016

Tazeen Jobbar joins from Neptune Investment Management, where she developed the branding and advertising for IFAs.  At Alternative Bridging, Tazeen will now be responsible for setting and deli...

FCA fines Towergate £2.6m
Posted on Wednesday July 13, 2016

The regulator also fined Timothy Philip, a former director of the insurance broker, £60,000 and banned him from having direct responsibility for client and insurer money. The fines come after...

FCA issues £885m of penalties
Posted on Wednesday July 13, 2016

The Financial Conduct Authority (FCA) has revealed that it imposed 34 financial penalties totalling £884.6m during the past year

Prime regional housing markets maintain value despite Brexit
Posted on Wednesday July 13, 2016

There has been positive growth in the prime regional housing markets, according to data from real estate adviser Savills

FCA fines Towergate £2.6m
Posted on Wednesday July 13, 2016

The Financial Conduct Authority (FCA) has fined Towergate Underwriting Group Limited £2.6m for failing to protect client and insurer money

Masthaven slashes rates ahead of bank launch
Posted on Wednesday July 13, 2016

Masthaven has announced it has reduced its rates across its range of secured loans, first charge residential and buy-to-let mortgages

P2P lenders welcome FCA review
Posted on Tuesday July 12, 2016

The FCA was calling for input on whether financial promotions, due diligence and prudential standards were still appropriate for the way the market had developed. It also wanted to consider whether...

60% of bridging lenders lose confidence after Brexit
Posted on Tuesday July 12, 2016

The sentiment survey, which was organised by the Association of Short Term Lenders (ASTL), found that 60% of bridging lenders were less positive about the long-term future of the UK economy following ...

Fluent Money appoints Group Compliance Director
Posted on Tuesday July 12, 2016

Second charge distributor Fluent Money has announced the appointment Stuart Almond as Group Compliance Director

Mortgage lender launches after securing funding
Posted on Tuesday July 12, 2016

The Mortgage Lender (TML) has officially launched after acquiring funding for its portfolio.

Brexit could boost slowing second charge market
Posted on Tuesday July 12, 2016

The UK’s decision to leave the European Union (EU) could see an upturn in demand for secured loans, according to Enterprise Finance’s latest second charge report

60% of bridging lenders lose confidence after Brexit
Posted on Tuesday July 12, 2016

Confidence among bridging lenders has dropped noticeably according to a poll taken a week after the EU referendum

Lender appoints new chief executive
Posted on Tuesday July 12, 2016

Monmouthshire Building Society has announced its new chief executive to replace Andrew Lewis, who will retire later this year

Master broker calls for review of fee models
Posted on Tuesday July 12, 2016

Master brokers need to review their fee models or risk not giving first charge mortgage brokers the support they need within the seconds market, according to Ryan McGrath, Chief Executive of The Loans Engine

A guide to adverse credit in a regulated market
Posted on Tuesday July 12, 2016

Tony Marshall, Managing Director of specialist lender Equifinance, explains how second charge mortgages can help brokers with clients deemed as ‘adverse’ and the role secured lending can play in helping provide consumers with access to financial products they may otherwise be denied

Together increases first charge loan amounts
Posted on Tuesday July 12, 2016

Together has increased its first charge mortgage amounts to £250,000 following an increase in the average house price

‘Significant’ number of bridging lenders to disappear after Brexit, says lender
Posted on Monday July 11, 2016

Mark Holden, Group Managing Director of Ultimate Capital, felt that many bridging firms relied on the four wholesale banks who are looking to wind back their positions.  “As a self-fulfi...

Lender gains £10m facility from Shawbrook
Posted on Monday July 11, 2016

Home credit business Loans at Home has secured a £10m revolving credit facility from Shawbrook Bank

FCA targets adviser firm
Posted on Monday July 11, 2016

The Financial Conduct Authority (FCA) has issued a warning over a firm it believes is providing financial services without its authorisation

P2P lender receives £2m investment
Posted on Monday July 11, 2016

London-based The Lending Works, which launched in early 2014, is set to use the multimillion pound investment to continue the growth trajectory of the business. This includes building additional lo...

Alternative Bridging benefits from Brexit
Posted on Monday July 11, 2016

The lender believes the rise in opportunities demonstrated that certainty was king. Alternative Bridging’s 20-year track record of keeping its head through fluctuations has assured the market it...

Regentsmead to launch TV ad campaign
Posted on Monday July 11, 2016

The development lender will launch its initial campaign to run for a number of weeks over the summer on Sky around a range of property-focused programmes. Ashley Ilsen, Head of Lending at Regentsme...

Bank announces major sale
Posted on Friday July 08, 2016

Banco Bradesco SA purchased both HSBC Bank Brasil SA - Banco Multiplo and HSBC Servicios e Participacoes Ltda, known collectively as ‘HSBC Brazil’, for approximately £4.02bn. HSBC...

Bluestone Mortgages partners with Brilliant
Posted on Friday July 08, 2016

Specialist lender Bluestone Mortgages has announced it’s partnering with distributor Brilliant Solutions

Lender agrees major partnership ahead of launch
Posted on Thursday July 07, 2016

ULS Technology has signed a five-year agreement with new mortgage lender Belmont Green Finance Limited

Law firm eyes £10m turnover after rebrand
Posted on Thursday July 07, 2016

Black Country law firm Talbots has unveiled its new corporate identity following its exit from the national QualitySolicitors brand earlier this year

266-year-old law firm to relocate after merger
Posted on Thursday July 07, 2016

Commercial law firm Schofield Sweeney has announced the relocation of Armitage Sykes following a merger between the two in January

Broker completes hat-trick of loans
Posted on Thursday July 07, 2016

MCIFA Property Finance has helped secure loans for three high-net-worth clients

L&G appoints new head
Posted on Thursday July 07, 2016

Legal & General Investment Management (LGIM) has announced the appointment of the firm’s first head of wealth management

New adviser application system launched
Posted on Thursday July 07, 2016

Global investments and savings specialist RL360° has launched an online application system for financial advisers

Bridging makes positive start to 2016
Posted on Wednesday July 06, 2016

The West One Bridging Index revealed that gross annual bridging lending rose to £3.6bn in February, up 3% from £3.5bn at the end of 2015. Stephen Wasserman, Managing Director of West On...

Metro Bank reduces rates on mortgage range
Posted on Wednesday July 06, 2016

For mortgages up to £1.5m, the lender will be able to offer a five-year fixed rate at 85% max LTV on residential mortgages and 75% max LTV on BTL mortgages. The full product range can be view...

Bridging lending exceeds £3.6bn
Posted on Wednesday July 06, 2016

The West One Bridging Index revealed that gross annual bridging lending rose to £3.6bn in February, up 3% from £3.5bn at the end of 2015.  Stephen Wasserman, Managing Director of W...

New P2P lender launches
Posted on Wednesday July 06, 2016

JustUs is looking to raise £5.35m, which includes £1m from a crowdfunding platform. It was started by entrepreneur Lee Birkett with backing from former advertising boss John Hegarty and st...

Property funders welcome Bank of England announcement
Posted on Wednesday July 06, 2016

The move is expected to result in £150bn in new lending across the UK and is seen as great news for the commercial and residential property market, according to peer-to-peer property funding pla...

Distributor launches new brand for brokers
Posted on Wednesday July 06, 2016

Fluent Money has officially launched Fluent for Advisers specifically for the broker market

TFC appoints HR business partner
Posted on Wednesday July 06, 2016

Specialist distributor TFC Homeloans has announced the appointment of a new HR business partner amid wider plans for expansion

Global asset management firm acquired
Posted on Wednesday July 06, 2016

Global financial services firm State Street Corporation has announced the acquisition of GE Asset Management (GEAM)

Two major banks recommend merger
Posted on Wednesday July 06, 2016

Last month, First Gulf Bank (FGB) and National Bank of Abu Dhabi (NBAD) revealed they had entered discussions over a possible merger and had formed a working group to review the decision. The propo...

Specialist lenders optimistic over Brexit
Posted on Wednesday July 06, 2016

Bob said that the financial shock caused by a vote for Brexit, which saw shares prices plummet and a major drop in the value of the pound, is outweighed by a promising future.  “…...

New challenger bank to launch services this year
Posted on Wednesday July 06, 2016

The Services Family Ltd was founded by military veterans Tom O’Brien and Mike Jenkins and has appointed David Hodgkinson, formerly of HSBC and Chairman of Allied Irish Bank, to help those in the...

£480k deposit saved by bridging loan
Posted on Wednesday July 06, 2016

The customer has exchanged contracts to purchase the off-plan apartment with the intention of letting it out and had paid a substantial deposit upon exchange. However, as market conditions softened...

Century Capital provides £2.25m loan for developer
Posted on Wednesday July 06, 2016

The developer had been given the option to buy the flat to create an enhanced marriage value based on location as well as scope to extend. The client already had development finance in place as the...

Freedom hires ex-HBOS manager
Posted on Tuesday July 05, 2016

Credit loan broker Freedom Finance has announced the appointment of two new directors to its senior management team

Major law firm set to challenge government over Brexit
Posted on Tuesday July 05, 2016

International law firm Mishcon de Reya has taken legal steps to ensure that the UK government will not trigger Article 50 without an act of parliament

Challenger bank signs five-year contract with tech firm
Posted on Tuesday July 05, 2016

Phoebus Software and Atom Bank have signed a five-year contract for the software firm to provide servicing across the bank’s secured lending proposition

RBS share sale faces two-year delay
Posted on Tuesday July 05, 2016

Royal Bank of Scotland (RBS) has revealed that in the wake of the Brexit vote it could delay its plans for reprivatisation by up to two years

ESIS unlikely to change despite Brexit, claim experts
Posted on Tuesday July 05, 2016

Loan Talk has been told that any changes to the first and second charge mortgage regulatory system are a “long way down the government’s priorities” following the Brexit vote

L&G exceeds £200m of lifetime mortgage sales
Posted on Tuesday July 05, 2016

Legal & General’s (L&G) retirement division has exceeded £200m lifetime mortgage sales in the first half of 2016, just one year after entering the mortgage market

Bridging lender completes its biggest ever loan
Posted on Tuesday July 05, 2016

The lender completed the £3.9m loan on a student residential scheme in Stoke-on-Trent after raising its maximum loan size from £1.5m to £5m in November 2015. Hope provided the fun...

Together recruits new chief executive for retail arm
Posted on Monday July 04, 2016

Peter Ball brings with him almost 30 years of experience, having also served as Product and Commercial Director at Virgin Money Group and Senior Vice President at Bank of America. Mike McTighe, Cha...

FCA rejects lender’s application
Posted on Monday July 04, 2016

A firm has had its application to carry on regulated activities as a lender rejected by the Financial Conduct Authority (FCA)

New commercial lender launches
Posted on Monday July 04, 2016

Capitalflow Commercial Finance, which has offices in Belfast and Dublin, was set up by Harry Parkinson who had previously set up Close Brothers Commercial Finance in 2007. Since opening it April, C...

Shawbrook merges commercial and secured divisions
Posted on Monday July 04, 2016

The property finance business will operate alongside the challenger banks’ consumer and business finance divisions as it looks to simplify Shawbrook to its stakeholders. In April, Shawbrook&r...

BTL investors face stricter borrowing requirements
Posted on Monday July 04, 2016

Crowdfunding platform Property Partner claims that the Bank of England may advise lenders to follow the example of Barclays and Nationwide by raising interest coverage ratios (ICR) to 145%. If this...

73 banks join global payment scheme
Posted on Monday July 04, 2016

Set for launch in early 2017, the Global Payments Innovation Experience will enable banks to offer same day use of funds, fee transparency and end-to-end tracking. Wim Raymaekers, Global Head of Ba...

Watchdog rules out payday loan ad restrictions
Posted on Friday July 01, 2016

The Committee of Advertising Practice (CAP) has ruled against introducing scheduling restrictions on the advertising of high-cost, short-term credit (HCSTC) following an extensive review

Brightstar named employer of the year
Posted on Friday July 01, 2016

Brightstar Financial has been awarded the Investors in People (IIP) Gold Employer of the Year

Brightstar named employer of the year
Posted on Friday July 01, 2016

Brightstar Financial has been awarded the Investors in People (IIP) Gold Employer of the Year

59% of brokers believe DA firms are better off than ARs
Posted on Thursday June 30, 2016

Increasing intrusion into compliancy could lead to more commercial brokers joining an authorised representative (AR) network, according to Nick Simpson, Managing Director of Synergy Commercial Finance

AMI: ‘The FCA appears to care little for the organisations that fund it’
Posted on Thursday June 30, 2016

The Association of Mortgage Intermediaries (AMI) has slammed the Financial Conduct Authority (FCA) for introducing its new fee rates without providing its usual feedback

Y3S offers free AVMs for bridging
Posted on Thursday June 30, 2016

Y3S has announced it is offering free automated valuation models (AVM) on some of its first and second charge bridging products

FCA alters consumer BTL fee
Posted on Thursday June 30, 2016

The Financial Conduct Authority (FCA) has revealed that it has altered the criteria regarding consumer buy-to-let (CBTL) fees following a number of complaints

Brexit causes lender to suspend second charge loans
Posted on Thursday June 30, 2016

The online lender has reviewed its lending criteria following the vote and has tightened its rules for deals worth more than £3m, where LTV is now capped at 65%. However, LendInvest has not c...

Precise drops rates in wake of Brexit
Posted on Thursday June 30, 2016

In a memo, Managing Director Alan Cleary explained that uncertainty in the market had translated to a significant drop in the cost of five- and 10-year money. As a result, the firm has cut rates on...

Exclusive: Lender granted full FCA authorisation
Posted on Thursday June 30, 2016

Seconds lender Optimum Credit has received full authorisation from the Financial Conduct Authority (FCA)

Interim CEO of struggling lender stands down
Posted on Thursday June 30, 2016

A lender has announced that its interim chief executive is to stand down

Together raises £26,000 for Royal Manchester Children’s Hospital
Posted on Thursday June 30, 2016

The campaign’s aim was to fund the refurbishment of rooms in the hospital’s bone marrow transplant unit Together began the fund in October last year with the initial goal of £13,0...

FCA alters consumer BTL fee
Posted on Thursday June 30, 2016

The Financial Conduct Authority (FCA) has revealed that it has altered the criteria regarding consumer buy-to-let (CBTL) fees following a number of complaints

FCA cancels mortgage broker’s permission
Posted on Thursday June 30, 2016

The Financial Conduct Authority (FCA) has imposed a cancellation against a mortgage broker for failing to be open and co-operative with the regulator

Specialist lender raises £17,000 for charity
Posted on Wednesday June 29, 2016

Emma Ryan, Joe Gibson, Rafiq Ahmed and Tasha Chellen climbed 4,167 metres to the highest point on the summit ridge of Jebel Toubkal to raise money for the Halcyon Foundation, a charity which aims to &...

P2P lender acquired
Posted on Wednesday June 29, 2016

The acquisition will also see GLI Finance commit £1m of further funding capital to help grow the business as the peer-to-peer lender looks to continue its focus on property and business lending....

P2P platform to cut 179 jobs
Posted on Wednesday June 29, 2016

At its annual stockholder meeting, Lending Club blamed the cuts on a predicted decline in loan volumes in the second quarter. Lending Club also announced that current President Scott Sanborn would ...

Bank branches are a ‘massive drain on costs’, says challenger bank
Posted on Wednesday June 29, 2016

Joel explained that while not all bank branches would disappear, branches with bad customer service would be first to go. Many challenger banks operate entirely online, which Joel argued was an adv...

UK retail investors pull out of property funds
Posted on Wednesday June 29, 2016

The online investment platform’s analysis found the number of trades on the rplan.co.uk platform was up 175% over the weekend following the Brexit decision compared to the previous weekend. O...

Shawbrook CFO resigns while bank expects to book £9m impairment charge
Posted on Tuesday June 28, 2016

The group also revealed that it had also accepted the resignation of Tom Wood, Chief Financial Officer, who will leave the company at the end of the month. The £9m charge is expected to ...

TFC teams up with TenetLime
Posted on Tuesday June 28, 2016

Mortgage distributor TFC Homeloans has announced a partnership with adviser support group Tenet

MCD loan completed in eight days
Posted on Tuesday June 28, 2016

Optimum Credit teamed up with Smart Money to complete a Mortgage Credit Directive (MCD) loan in just eight days

TFC teams up with TenetLime
Posted on Tuesday June 28, 2016

Mortgage distributor TFC Homeloans has announced a partnership with adviser support group Tenet

Bank auditor faces investigation
Posted on Tuesday June 28, 2016

An investigation has begun to look into the conduct of KPMG Audit Plc’s audit of HBOS plc that took place during 2007

Optimum Credit posts £1.7m loss
Posted on Tuesday June 28, 2016

Second charge lender Optimum Credit has posted annual losses of £1.7m

FCA: ‘We hold lenders responsible for weak fraud controls’
Posted on Tuesday June 28, 2016

The Financial Conduct Authority (FCA) has told Loan Talk it expects lenders to help it win the fight against financial crime

Brunel launches guide to second charge mortgages
Posted on Tuesday June 28, 2016

Specialist lender Brunel Mortgages & Loans has published a ‘handy guide to second mortgages’ for brokers and advisers

Brexit causes surge in remortgage enquiries
Posted on Tuesday June 28, 2016

The Mortgage Advice Bureau (MAB) has revealed it received an ‘unprecedented’ number of remortgaging enquiries following Britain’s vote to leave the EU

Financial promotions – getting it right
Posted on Tuesday June 28, 2016

“60% of the time, it works every time.” This much-quoted line from ‘Anchorman’ is memorable because of how accurately it parodies an ad man’s talent for obfuscation

Deloitte makes £2.5m investment
Posted on Monday June 27, 2016

Business advisory Deloitte has invested £2.5m to launch a cloud-based accounting and analytics service for start-ups and SMEs

Fleet Mortgages hits £500m mark in under 18 months
Posted on Monday June 27, 2016

The specialist lender, which launched at the beginning of 2015, has so far completed a tranche of loans for a number of BlackRock clients with new clients already lined up. One individual BlackRock cl...

Two major banks temporarily suspend trading
Posted on Monday June 27, 2016

Royal Bank of Scotland (RBS) shares underwent a temporary automatic execution suspension period (AESP) yesterday morning, with prices having fallen from 190.4p at opening to 176.1p. Barclays also e...

Borro refinances £2.9m second charge bridge
Posted on Monday June 27, 2016

Aidan Tiernan, Managing Director of Creative Commercial Funding, turned to Borro after other lenders turned the deal down. The client was facing a tight deadline, but fortunately the previous lende...

MFS relocates after doubling team
Posted on Monday June 27, 2016

The firm remains in Mayfair’s Berkeley Square, but has expanded into bigger offices after doubling its team over the last year. In addition to staff members, MFS also saw its lending book and...

LendInvest: NACFB CFE reflections
Posted on Friday June 24, 2016

It’s a tremendous event, and one that LendInvest is always proud to take part in. The NACFB is a first class organisation with a leadership genuinely committed to its members and to the task of ...

UK votes Brexit: Industry responds
Posted on Friday June 24, 2016

The total count finished as 16,141,241 in favour of Remain while 17,410,742 voted to Leave.  During the night, the value of sterling against the dollar also fell dramatically but began to reco...

FP Show 2016: Registration opens
Posted on Friday June 24, 2016

60% of stands are already sold out for the UK’s foremost financial services exhibition, which takes place on 9th November at Olympia London. Up to 2,000 finance professionals are expected to att...

FCA informs firms to continue abiding by EU regulations
Posted on Friday June 24, 2016

The Financial Conduct Authority (FCA) has reminded firms that they must still abide to their obligations to rules under European Union (EU) law despite the UK public voting in favour of leaving

FP Show 2016: Registration opens
Posted on Friday June 24, 2016

The Finance Professional Show 2016 is now officially opened for registration

FP Show 2016: Registration opens
Posted on Friday June 24, 2016

The Finance Professional Show 2016 is now officially opened for registration

Fintech accelerator set to boost UK start-ups
Posted on Friday June 24, 2016

The UK financial sector is the perfect environment for fintech to develop, according to Daniel Gasteiger, Co-Founder of Swiss blockchain platform nexussquared

BREAKING NEWS: Jim Nash joins West One
Posted on Thursday June 23, 2016

Having worked for Fortwell for over five years, where he held roles such as sales manager and more recently in business development, Jim has now moved on to another role at West One. Commenting on ...

FCA authorises major law firm
Posted on Thursday June 23, 2016

National law firm Shoosmiths has been authorised by the Financial Conduct Authority (FCA) to provide the full range of regulated debt recovery services

Law firm merges after 283 years
Posted on Thursday June 23, 2016

Blandy & Blandy LLP has announced that it has acquired Collins Dryland & Thorowgood LLP as it looks to expand its reach

Crystal completes NACFB CFE deal in 24 hours
Posted on Thursday June 23, 2016

Crystal Specialist Finance has completed one of its quickest deals on record on the back of the NACFB Commercial Finance Expo

Fake accountant caught
Posted on Thursday June 23, 2016

A woman who pretended to be a qualified accountant has been jailed after attempting to steal £119,898 through fraudulent VAT repayments

FCA gains 500 requests for support
Posted on Thursday June 23, 2016

The Financial Conduct Authority (FCA) has revealed that over 500 requests have been made for support since the launch of its competition-boosting Project Innovate

Bank gains £27m backing after account closures
Posted on Wednesday June 22, 2016

Earlier this month the bank was caught up in a scandal where hundreds of accounts were cancelled leading to Number 26 pledging to improve its transparency.  However, Number 26 claims it has es...

Bank enters P2P market
Posted on Wednesday June 22, 2016

International firm Commerzbank has announced the launch of a new peer-to-peer (P2P) lending platform

Action group predicts 100,000 mis-selling complaints
Posted on Wednesday June 22, 2016

Property 118 claimed that because the Financial Ombudsman had previously ruled in favour of mortgage lenders unilaterally amending their mortgage contracts, professional advisers could be accused of n...

70% of brokers expect mainstream lenders to enter bridging market
Posted on Wednesday June 22, 2016

A poll of B&C readers saw almost 70% claim that more mainstream lenders will enter the bridging market. A spokesperson for RBS told B&C that it was continuing to monitor the market and ...

Assetz Capital partners with Fundbay for product launch
Posted on Wednesday June 22, 2016

The peer-to-peer lender will offer the products through the new broker platform, which last week launched its new dating-style online marketplace. The new commercial mortgage products will aim to h...

Commercial transactions rise 12% despite Brexit fears
Posted on Wednesday June 22, 2016

Data published by peer-to-peer (P2P) investment platform Saving Stream showed commercial property transactions reached 10,790 last month, up from 9,650 in April. The firm partially attributed this ...

New lender targets £250m of originations
Posted on Tuesday June 21, 2016

The Mortgage Lender has revealed it expects to have an origination volume of £250m in its first year once it commences trading

Industry reacts to return in pre-crisis lending
Posted on Tuesday June 21, 2016

Loan Talk has been told that the increased amount of mortgage lending is good for the sector, especially if it’s “good quality lending”

Prestige slashes rates on prime range
Posted on Tuesday June 21, 2016

Prestige Finance has simplified and enhanced its mortgage offering by creating one simple, competitive prime range for loans up to £2.5m

TFC partners with Bluestone
Posted on Tuesday June 21, 2016

Specialist distributor TFC Homeloans has announced a partnership with Bluestone Mortgages to serve borrowers who do not meet mainstream lending criteria

In the Spotlight with Richard Doe of Paragon Bank
Posted on Tuesday June 21, 2016

Loan Talk spoke to Richard Doe, Managing Director at Paragon Bank, to find out what is behind their recent success

Major bank named worst for cutting Isa rates
Posted on Tuesday June 21, 2016

NatWest has the worst record on cuts-per-account for Isa rates, research by Which? has revealed

Two banks discuss merger
Posted on Monday June 20, 2016

The lenders both have offices in the UK, with the National Bank of Abu Dhabi using London as its hub for regional activities in Europe.  In a joint statement, the banks revealed that they had ...

LendInvest rescues client with three-day bridge
Posted on Monday June 20, 2016

The online lender and the master broker worked together for the first time to complete the £1.6m deal after LendInvest stepped in when another lender had let the client down.  The fundin...

Precise launches automated valuations for bridging
Posted on Monday June 20, 2016

The lender has introduced an Automated Valuation Model (AVM), which will bring improvements to the time it takes for some bridging loan valuations to be completed and therefore shortening the timescal...

Funding Circle to lend £100m to SMEs
Posted on Monday June 20, 2016

The investment, along with £25m from the Funding Circle SME Income Fund, will allow over £200m of new loans over the next seven years. The partnership also represents the first deployme...

Law firm rebrands ahead of London launch
Posted on Monday June 20, 2016

Commercial lawyer Primas Law has expanded its presence in the South with a new central London office amid a major corporate rebrand

London law firm announces US partnership
Posted on Thursday June 16, 2016

Bond Dickinson LLP has announced it has entered a transatlantic strategic alliance as it looks to develop its international capabilities

P2P ‘should be embraced’ by brokers
Posted on Thursday June 16, 2016

Brokers should consider loans from peer-to-peer platforms for their clients, according to RateSetter

Foxtons profits hit by central London slowdown
Posted on Tuesday March 08, 2016

Foxtons has reported a fall in profit before tax due to uncertainty in the UK housing market caused by the EU referendum and recent changes to the tax regime.

Broker completes £1m a day in February
Posted on Monday March 07, 2016

Adapt Finance completed £29.4m worth of deals last month, equating to more than £1m a day...

Architecture firm sold for £102m
Posted on Friday March 04, 2016

A UK architecture firm has been acquired by a Japanese giant for £102.2m...

Student housing construction hits 5-year high
Posted on Friday March 04, 2016

Contracts to build more than 4,500 new student bedrooms were awarded last year, the highest amount in over five years...

UTB: Innovative new funding for build-to-let developers
Posted on Friday March 04, 2016

With home ownership in decline, especially amongst the younger population, the private rented sector has become the fastest growing housing market...

Ex-V Loans director joins F4B
Posted on Thursday June 21, 2012

Dave was the co-founder and director of master broker V Loans, which announced its exit from the second charge and bridging markets in November 2016. Dave will be responsible for intermediary relat...


Posted on Thursday January 01, 1970