United Trust Bank has completed a £352,000 Second Charge Mortgage.
For many years I have been coming to see Lenders in and around the North West and this is still a very regular occurrence. There may have been a few additions and some changes to others, but essentially the strong presence remains, indeed the North West Lenders have gone from strength to strength.
Funding 365 has saved an unusual commercial bridging deal by employing client onboarding software provided by Thirdfort. The £195,000 bridging loan secured against offices and retail space in the East Midlands was for a corporate borrower with a major shareholder who was sailing a yacht off the coast of Australia.
Following on from last month’s article, I want to take a look at another area of particular interest, where, by acting together, we would help the sector prepare for the likely increase in regulatory oversight ahead of the actual event.
Roma Finance, the bridging and development lender, provided 100% funding for a customer to acquire a development site with planning permission.
The Financial Intermediary & Broker Association (FIBA) is asking members and non- members to heed the warnings in the Bank of England’s latest quarterly credit conditions survey about lenders cutting access to funding in Q4 and beyond.
Over two thirds (69%) of brokers expect to write more bridging business this year than they did in 2018, according to UTB’s most recent Broker Sentiment Poll, and lender flexibility is cited as the main reason their volume of bridging business has increased.
Commercial finance trade body, FIBA, has announced the appointment of short term bridging lender, Tuscan Capital, to its lender panel.
Roma Finance, the bridging and development finance lender, has provided a loan of £1.85m in its largest ever case.
Funding 365 has delivered yet another unregulated bridging loan at 0.59% per month, this time to enable a borrower to complete their auction purchase of a house in North London.
Financial Intermediary & Broker Association Email: enquiries@fiba.org.uk Registered in England under Company No. 07372027. Registered address: The John Smith's Stadium, Stadium Way, Huddersfield HD1 6PG.
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Call: 0330 002 0987 Email: enquiries@fiba.org.uk
The Financial Intermediary & Broker Association (FIBA) The John Smith's Stadium, Stadium Way, Huddersfield HD1 6PG.
22 Nov 2019