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News


Civitas acquires social housing properties for £85.6m
Posted on Thursday March 21, 2019

Approximately £73.5m was used to complete the purchase of 19 regulated social housing properties comprising 266 tenancies. In addition, it has also exchanged contracts on two further properti...

Oblix Capital completes £7.65m development loan
Posted on Thursday March 21, 2019

The specialist bridging and development lender structured the loan on an 18-month term at 70% LTGDV, with construction expected to start immediately. Andy Reid, sales director at Oblix Capital (pic...

Curve to hire six country managers for international expansion
Posted on Thursday March 21, 2019

The fintech start-up has also appointed Alaister Mortlock as head of talent. Alaister previously worked at LinkedIn and energy and services company Centrica. In his new role, he will manage the ...

Project BankNorth picks nCino to provide digital banking platform
Posted on Thursday March 21, 2019

The UK challenger will utilise nCino’s cloud-based bank operating system for its SME lending business. The platform is expected to streamline BankNorth’s SME lending processes and more ...

Tandem introduces new savings account powered by AUTOSAVINGS
Posted on Thursday March 21, 2019

The digital bank’s offering - which is powered by AUTOSAVINGS - aims to give customers control over their savings and improve people’s relationship with money. Matt Ford, product direct...

Fortwell Capital completes £31m development loan for Birmingham scheme
Posted on Wednesday March 20, 2019

The funding will enable the construction of Westminster Works, a 220-unit scheme for private sale. Planning permission is said to be in place for the site, which is situated close to the proposed H...

UK house price growth lowest since June 2013
Posted on Wednesday March 20, 2019

This figure is down on the 2.2% recorded for the year to December 2018. Key points from the January HPI: average house prices fell by 0.8% between December 2018 and January 2019 the average...

SimplyBiz agrees to acquire Defaqto for £74.3m
Posted on Wednesday March 20, 2019

Regulus is the owner of financial services technology business Defaqto, which operates a fintech platform for 8,500 advisers. The combination of SimplyBiz and Defaqto will create a fintech and supp...

OakNorth reveals plans for Manchester client-facing office
Posted on Wednesday March 20, 2019

In an exclusive interview with Specialist Banking, Amir revealed that the business wanted to expand the UK bank. It is currently providing loans nationwide, but these are originated by staff in Lon...

Unity Trust Bank reports 68 per cent profit rise
Posted on Wednesday March 20, 2019

The commercial bank has seen its lending almost double since it became independent in 2015. Margaret Willis, CEO at Unity Trust Bank (pictured above), said: “Unity’s results confirm tha...

Redefining SME banking technology
Posted on Wednesday March 20, 2019

There has been significant change in the financial services sector in the past three to five years, one driven by new client expectations of customer experience, performance and speed of execution. ...

Is there a lack of understanding around e-money institution protection?
Posted on Tuesday March 19, 2019

Myles explained how e-money and payment institutions are regulated in a different way to how banks are regulated. All authorised e-money institutions are required by regulation 20 of the Electronic...

Price of flats down as much as 7.5% in last 12 months
Posted on Tuesday March 19, 2019

Significant price falls in specific areas are presenting first-time buyers with an opportunity to get on the property ladder. Aberdeen and St Albans, Hertfordshire, were the two most affected areas...

Homes England agrees £3.4m funding to provide 121 apartments
Posted on Tuesday March 19, 2019

The funding has been awarded through the government’s £450m local authority accelerated construction programme and will enable the development of homes on the one-hectare, surface-level ca...

UTB introduces new first charge product
Posted on Tuesday March 19, 2019

The unencumbered restart mortgage is designed to enable homeowners to release capital tied up in their property for a wide variety of purposes. Key product features include: £250,000 ma...

Project Etopia opens modular factory that can produce 2,000 homes a year
Posted on Monday March 18, 2019

The 50,000 sq ft factory — a joint venture with panelised construction system producer 4wall — is based is Ellesmere Port, Cheshire, and can create five three-bedroom houses per day. It...

Deutsche Bank and Commerzbank confirm merger talks
Posted on Monday March 18, 2019

Deutsche Bank claimed that in light of arising opportunities, its management board has decided to review strategic options. It is doing this to focus on improving the bank’s growth profile an...

OakNorth Analytical Intelligence bolsters leadership team
Posted on Monday March 18, 2019

Nikolai — who previously served at Morgan Stanley as managing director — has been appointed chief commercial officer, while Rikard has joined from Mizuho Bank, where he led its commercial ...

UTB expands mortgage team with new operations manager
Posted on Friday March 15, 2019

The newly created role will focus on delivering fintech and digital solutions projects, alongside process improvements within the bank’s introducer-led proposition. Avison will work alongside...

Aldermore to increase exposure to larger commercial development loans
Posted on Friday March 15, 2019

John claimed that while the bank has previously served the lower level, it hasn’t really penetrated above that. As a result, it wants to grow its coverage to help bolster its balance sheet. ...

CrowdProperty secures £100m of institutional funding
Posted on Friday March 15, 2019

The backing will help the P2P lender to fund its property projects over the coming 12-24 months. Mike Bristow, chief executive at CrowdProperty (pictured above), said: “Institutional capital ...

Masthaven names new BDM for the Midlands
Posted on Friday March 15, 2019

Jez has over 10 years of industry experience and will be responsible for recruiting, developing and managing key relationships as well as generating sales leads at the specialist bank. He will over...

Development lenders entering Scotland should seek a guide
Posted on Friday March 15, 2019

There is huge potential for specialist lenders north of the border — but going it alone without a guiding ally could prove a risky venture. For example, lenders testing the waters of a new ma...

Adapt Finance and Funding 365 complete £2.7m bridging loan
Posted on Thursday March 14, 2019

The funding was required quickly as the borrower’s development facility was coming to an end and the existing lender was unable to offer an extension for sales or refinancing. Funding 365 the...

Charter Court and OSB agree terms of merger
Posted on Thursday March 14, 2019

Charter Court shareholders will own approximately 45% of the combined group, with an exchange ratio of 0.8253 new OSB shares for each Charter Court share.  David Weymouth, chairman of OSB, sai...

N26 appoints Will Sorby to lead expansion into UK market
Posted on Thursday March 14, 2019

He will be responsible for leading the mobile bank’s ongoing expansion into the UK market. Will joins from Bain & Company, where he served as a consultant. Before that, he worked at Br...

British Business Bank’s ENABLE Build programme to launch next month
Posted on Thursday March 14, 2019

The announcement was made during yesterday’s Spring Statement (13th March) and the initiative will be a new variant of the bank’s existing ENABLE Guarantee programme. Keith Morgan, chie...

Hexigone Inhibitors secures investment from Development Bank of Wales
Posted on Thursday March 14, 2019

The Development Bank of Wales, Innovate UK and angel investors Phil Buck and Andy Lewis have provided loans totalling over £1m for the start-up company. It is claimed that corrosion costs the...

Glasgow-based credit union goes into administration
Posted on Wednesday March 13, 2019

The Glasgow-based credit union was declared in default yesterday (12th March), meaning that it can’t pay money to its 4,212 members. A total of £3.4m is expected to be paid to the credi...

The key points from the Spring Statement 2019
Posted on Wednesday March 13, 2019

Mr Hammond provided an update on the overall health of the economy and the Office for Budget Responsibility’s (OBR) forecasts. The key points in the Spring Statement with regard to property&n...