Paragon launches 75% LTV limited edition BTL range

Paragon Bank, the specialist lender, is now offering a limited-edition range of buy-to-let mortgages, before the end of the current stamp duty holiday.  This range is available to portfolio landlords (those with four or more mortgaged BTL properties).

There are four new products available in the range, all with 75% LTV, with free valuations and £750 cashback, for both purchase and remortgage.

They are available across both SSC units and HMOs.  For SSC units there is a 2-year fixed rate at 2.75% and a 5-year fixed rate at 3.10%.  For HMOs, there is a 2-year fixed rate at 2.85% and a 5-year fix at 3.34%.  All products are available for either personal or limited company borrowing.

Moray Hulme, director of mortgage sales at Paragon Bank, said: “With the stamp duty holiday tapering down at the end of the month, landlords will be looking for competitive rates as they seek to add new property to their portfolio.

“We are confident these limited-edition rates will be popular with our portfolio landlord customers seeking to purchase new properties or remortgaging existing deals.

“The free valuation and £750 cashback should also be appealing to landlords.”

Original article featured here…

Paragon Bank recently cut rates in its buy-to-let range, on two and five-year fixed rate mortgages.  These products are designed for purchasing or remortgaging single self-contained (SSC) properties, for portfolio landlords who manage lettings business in their personal names or through limited companies.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/paragon-launches-75-ltv-limited-edition-btl-range/

Roma Finance appoints Mark Foley as senior BDM

Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has hired Mark Foley as Senior Business Development Manager for the Midlands.

Mark brings a great deal of financial knowlege to the lender, from over 17 years in the industry, including risk management, business development and underwriting.

Mark Foley, Senior Business Development Manager, Roma Finance said: “I am delighted to have joined the Roma team and have already been made to feel very welcome.

I am passionate about the short term market and ensuring that intermediaries are able to provide the best possible service to their customers.

The future for the market is very positive and I am really looking forward to creating strong relationships and driving the business forward.”

Steve Smith, National Sales Manager at Roma Finance added: “We have had a great year and broken a number of records. The business is going from strength to strength and I am delighted to welcome Mark to the team, especially at such an exciting time.

He will bring a great deal of expertise to the business and his appointment will allow improved efficiency, communication and capacity within Roma, which is essential for the increased demand we are experiencing.”

Original article featured here…

Roma Finance recently promoted Steve Smith to national sales manager; he previously held the role of senior business development manager for the South West.

source https://commercial-mortgages-broker.co.uk/bridging-finance-news/roma-finance-appoints-mark-foley-as-senior-bdm/

MT Finance launches green properties incentive

MT Finance, the bridging finance specialist, have introduced a £250 credit scheme, for borrowers who attain an Energy Performance Certificate (EPC) of either A or B on their property.

Both new and existing borrowers are eligible for this scheme and it applies across the whole product range.  It is designed in line with the government’s aim to have more energy-efficient properties across the country.  MT Finance hope this offer will encourage customers to purchase energy-efficient properties, or to increase energy-efficiency through upgrading windows, insulation and heat sources.

This new scheme is part of a wider initiative from the lender to help improve the environment and promote sustainability within the bridging finance sector.

James Anderson, operations director at MT Finance, said: “MT Finance has always been a leader in terms of products, pricing and service, but we want to do more,”

“We want to lead the industry by becoming a force for change when it comes to improving the built environment.

“This initiative is very much the tip of the iceberg for us, with many more exciting plans to come.

“We also want to encourage others in the industry to talk to us about what they are doing to care for the environment to see whether we can help.

“But, for now, at least we can start giving back on the projects that many of our borrowers are undertaking to create greener, more energy-efficient homes and commercial spaces.”

Original article featured here…

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/mt-finance-launches-green-properties-incentive/

Shawbrook boosts team with 3 new relationship managers

Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has recruited three new relationship managers, to enhance service and delivery operations.

Bringing a total of over 60 years experience in financial services between them, Sadie Sharples, Sue Stratton and Nigel Roberts have a wealth of knowledge that will strengthen Shawbrook’s team.

Sadie and Sue previously worked for RBS, for 17 and 15 years respectively. Nigel has previously held roles at National Australia Group, Lloyds Bank and HSBC.  For the last 20 years, he has specialised in asset-based lending.

Sadie Sharples said “I enjoy helping clients fulfil their ambitions and I am really excited to be joining an experienced team which is dedicated to achieving that goal also”

“I am eager to support the bank as we look to grow our commercial loans team in particular.”

Sue Stratton said: “Shawbrook is focused on delivering flexible and tailored finance to UK businesses, which it can do consistently because it has both a great product set and a culture of going the extra mile to deliver a positive impact on its customers,”

“It’s exciting to now be part of this talented, professional and growing team and I am particularly looking forward to making a difference in the North West — establishing long-lasting relationships with our clients and providing them with the support they need in what is undoubtedly one of the most extraordinary times to be growing a business in the UK.”

Nigel Roberts said: “Shawbrook has a strong ABL credit policy and appetite supported by experienced, proven ABL professionals, and that is something that I am looking to add to and hopefully improve with my own skillset and experience”

David Moran, managing director of service and delivery at Shawbrook, added: “Their appointments demonstrate our ability to attract highly skilled staff and highlights the focus and commitment we place on providing a specialist, relationship-led service for our clients,”

“I am extremely excited by the appointment of all three and by the positive impact they will collectively have on both the team here at Shawbrook and on our clients.”

Original article featured here…

Shawbrook has recently made changes to its buy-to-let and HMO range, reducing rates for higher loan amounts and introducing three new product bandings, based on loan sizes.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/shawbrook-boosts-team-with-3-new-relationship-managers/

Landbay now offers green mortgages

Landbay, the buy-to-let lender, now has a green mortgage range, offering rates up to 0.1% lower for properties with qualifying energy ratings.  These green rates are only for properties that have been registered for at least 24 months with an energy performance certificate (EPC) rating of C or above.

The lender hopes to incentivise landlords to make their rental properties more energy efficient, in line with government targets.

Properties with an EPC rating of A or B qualify for a five-year fixed rate at 65% LTV at 3.15% (instead of 3.25% for non-green) and for 75% LTV at 3.25% (would be 3.35% for non-green).

Paul Brett, managing director, intermediaries at Landbay, said: “Properties being let by landlords are obliged to have at least an E rated EPC,”

“However, the government has said it wants as many as possible to be upgraded to band C or above by 2030.

“We hope our green mortgage range will go some way to help achieving that goal and incentivise more landlords to consider adding energy efficient properties to their portfolio.”

Original article featured here…

Earlier this month, Landbay launched two new products, designed for landlords with three or less properties; a two-year fixed rate at 2.85% and a five-year fixed rate at 3.25%, both at up to 65% LTV and available on loans up to £1.5m.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/landbay-now-offers-green-mortgages/

Hope Capital appoints Roz Cawood as director of sales

Hope Capital the short term lending and bridging finance house, has hired Roz Cawood as its new director of sales.

Roz previously worked for Masthaven Bank as head of sales and has also held roles with LendInvest and Precise Mortgages.

At Hope Capital, Roz will be responsible for leading the lender’s sales team, conceiving strategies for the team and implementing them, in order to meet the requirements of brokers and their clients.  She will also work closely with the rest of the directors, introducing and managing new key accounts.

Hope Capital is currently expanding after significant growth in the past year.

Roz Cawood said: “I am delighted to be joining Hope Capital during a time when there is such a huge demand for its innovative bridging finance products and as they are experiencing a surge in enquiries and completions,”

“This is a fantastic opportunity and I look forward to delivering results alongside my team and achieving the strategic goals of the business using my skills and experience.”

Gary Bailey, managing director at Hope Capital, added: “I am thrilled to welcome Roz into our team.

“Roz has a fantastic track record and will be a huge asset to Hope Capital.

“We focus our recruitment strategy on securing talented individuals who share our passion for personal development and sustained success.”

Original article featured here…

Earlier this year, the lender launched a new initiative, the Hope Capital Club.  This will include an exclusive range of new opportunities and benefits, including a dedicated underwriter and DM, available to a limited number of hand-picked brokers.

source https://commercial-mortgages-broker.co.uk/bridging-finance-news/hope-capital-appoints-roz-cawood-as-director-of-sales/

Shawbrook launches loan size bands for BTL and HMO products

Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has made changes to its buy-to-let and HMO range.

The lender has reduced rates for higher loan amounts and now has three new product bandings, based on loan sizes.  The bandings are; loans over £1m, loans between £150,000 and £1m, and loans less than £150,000.

For loans over £1m, rates have been reduced and now start from 4.14% on BTL and HMO properties that are valued at 65% LTV.

Gavin Seaholme, head of sales at Shawbrook Bank’s property finance division, said: “These changes underline Shawbrook’s continued commitment to supporting the simple, the complex, and everything in-between.

“Our team have a wealth of experience lending on commercial and residential developments, in even the most complex of situations and work hard to serve customers at both ends of the market. By offering competitive rates across all loan sizes we can make our expertise and knowledge of the market accessible to as many people as possible.”

Original article featured here…

Earlier this month, Shawbrook appointed Jo Edwards as its first Director for COO Risk and Operational Resiliency.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/shawbrook-launches-loan-size-bands-for-btl-and-hmo-products/

Aldermore provides £8.4m loan to Citu Group

Aldermore, the specialist finance lender, has provided a £8.4m development finance loan to Citu Group, a low-carbon developer.  The loan will help to finance the development of a 46-unit residential scheme in Kelham Central, Sheffield.

The scheme is part of a wider project which will consist of 114 residential units in total.

Modern methods of construction will be used which limit construction time and waste.  Citu’s own, nearby manufacturing facility will provide the timber panels, which are designed in collaboration with Leeds Beckett University.  The resulting high quality homes will reduce the occupiers’ carbon footprints as they will be energy-efficient.

Iain Bryson, head of development and specialist property at Aldermore, said: “We recognise that MMC plays an increasingly important role in delivering homes. We’re committed to working with construction firms, housebuilders and developers like Citu to fund high-quality, low-carbon, sustainable developments.”

Chris Thompson, managing director of Citu Group, added: “Banks have a large influence in directing funds to climate-conscious projects and businesses, and we welcome Aldermore’s vision in supporting us in bringing this important project to fruition.”

Original article featured here…

Aldermore recently provided a £1.3m commercial development finance loan, for a retail development in the North of England, to enable the construction of two drive-thru units by West Yorkshire-based property developer Cookridge Estates.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/aldermore-provides-8-4m-loan-to-citu-group/

West One hires Nick Jones as Sales Director

West One, the specialist bridging finance and buy to let finance lender, has hired Nick Jones as its new sales director.

Nick recently left Roma Finance where he was commercial director, and has over 21 years of experience in the industry in total.  He also worked in senior sales positions at Together for 14 years.

As sales director for West One, Nick will be focused on developing and driving the implementation of the sales and distribution strategy for the lender’s bridging and development proposition.  He will also be responsible for leading and growing the sales team.

Danny Waters, CEO of Enra Specialist Finance, commented: “I have known Nick for a very long time, he has an amazing track record within our industry and I am delighted to welcome him to our team. Our business has seen very impressive results already this year and we have exciting plans ahead, I am confident Nick is the right person to power the next phase of our growth.”

Nick Jones said: “I’m thrilled and honoured to join the senior team at West One; a business which I’ve watched for many years grow into one of the leading non-bank lenders in the ever-growing industry.

“Their diverse and competitive product range coupled with their passion for providing excellent service to intermediaries makes them a perfect fit for my next role. I look forward to shaping and developing their already excellent reputation, product set, and reach within the intermediary marketplace”.

Original article featured here…

West One recently hired two new portfolio managers, Alan Coleman and John Newton to expand its team.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/west-one-hires-nick-jones-as-sales-director/

LendInvest adds Juno as fifth firm on BTL legal panel

LendInvest, the London based buy to let finance and bridging finance platform, has added Juno, the fintech law firm, to its legal panel for its BTL range.

Alongside four existing firms on the panel, Juno will now advise the lender on BTL legal matters.

Juno offers a fully online process whereby clients have access to regular updates via the dashboard, and specialises in property conveyancing.

Lauren Eaton, head of lending operations at LendInvest, said: “We’re excited to be working with a team like Juno’s, particularly due to our shared ethos of a technology-enabled approach to lending,”

“This new appointment comes at a time of high growth for our BTL business, and we’re delighted to be working with the team.”

Etienne Pollard, founder and CEO of Juno, added: “In LendInvest we’ve found a partner as relentlessly focused on execution of speed and quality of service as we are.

“Borrowers and brokers will get the benefit of faster completions with transparent updates and great attention to detail — from offer to completion.

“We’re excited to support LendInvest’s growth over the coming months.”

Original article featured here…

LendInvest recently made a series of changes to its bridging range, with rate reductions and higher LTVs for both land and commercial products now available.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/lendinvest-adds-juno-as-fifth-firm-on-btl-legal-panel/

Shawbrook appoints Director for COO Risk and Operational Resiliency

Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has appointed Jo Edwards as its first Director for COO Risk and Operational Resiliency.

This new position will enhance operational resiliency and risk management processes across the business and strengthen the central COO structure at Shawbrook.  Data governance and financial crime will be at the core of the role.

Jo will oversee the Ops Resilience team and also quality control and risk inside the Savings, Consumer & Property operations’ and Collections & Recoveries divisions.

Jo Edwards said: “I am thrilled to have joined Shawbrook in an exciting new role heading up a strategically important department for the Bank.

“I bring a wealth of experience to the position having operated within a broad range of roles across financial services, including within customer experience, operations, sales and marketing, in mainly specialist banks.

“As we move into a new phase of delivering our Operational Resilience programme, we will create a ‘business partner’ style model to support the Bank’s divisions.
“Shawbrook has high ambitions of becoming the leading specialist lending and savings bank for SMEs, micro-businesses and consumers in the UK. It’s certainly an exciting time to be joining and I am looking forward to playing my part in the Bank’s future success.”

“Culturally, Shawbrook is a great fit for me – I am very much a ‘customer focussed’ type of person and as a business Shawbrook mirrors that.”

Original article featured here…

Shawbrook reached its target to lend £1bn in development finance this month, nearly a year earlier than forecast.

source https://commercial-mortgages-broker.co.uk/bridging-finance-news/shawbrook-appoints-director-for-coo-risk-and-operational-resiliency/

Landbay launches new products for landlords with 3 or less properties

Landbay, the buy-to-let lender, has launched two new products, designed for landlords with three or less properties.

The new products are a two-year fixed rate at 2.85% and a five-year fixed rate at 3.25%, both at up to 65% LTV and available on loans up to £1.5m.

In addition, rates on certain two-year and five-year fixed products have been cut, available only for standard properties, to both limited companies and individuals.  The two-year fix at 75% LTV has been cut from 3.14% to 2.95%, and the five-year fix at 75% LTV has been cut from 3.39% to 3.35%, both with with a 1.75% fee and a free valuation

Rate changes have also been made to the parallel two-year fixed rate at 75% which has been lowered from 3.14% to 2.95% and the five-year fixed rate at 75% LTV has been lowered from 3.39% to 3.35%.  Both are subject to 1.5% fee.

Landbay managing director, intermediaries Paul Brett said: “The rental market is thriving, and we maintained our position at the forefront of this flourishing sector during the pandemic.

“We were one of the few lenders who continued to lend throughout lockdown, during which we successfully retained our rapid turnaround times.”

Original article featured here…

Landbay recently upgraded its broker portal and reduced rates and fees across its core BTL product range.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/landbay-launches-new-products-for-landlords-with-3-or-less-properties/

Avamore appoints new relationship manager for London

Avamore Capital, the London based short term and bridging finance lender, has appointed another new relationship manager.  Amir Khan will now work alongside Andreas Yianni, supporting broker partners in north and central London.

Amir has previously worked for State Bank of India, Aldermore and West One,focusing on complex buy-to-let deals.

In his new position at Avamore, he will be increasing awareness in the market of their specialist funding range, and also focus on building new relationships.

Amir Khan said: “I am looking forward to working with new and existing broker partners and providing solution driven funding options for them and their developer customers,”

“I have always had a personal interest in the development space; seeing my father renovate, extend and convert homes always made me keen to enter this market, and understanding the value that can be added to the right security is extremely exciting.”

Zuhair Mirza, principal at Avamore, added: “We’re really excited to have Amir joining the team and helping us increase our exposure in London.

“It will remain incredibly important to us that we hold strong relationships with broker firms based in and around Avamore’s central hub.

“As the market changes, we will always ensure that we are equipping our relationship managers with competitive and truly relevant products to offer the market.

“The hire reflects our commitment to servicing a broader proportion of the market, and we look forward to seeing the impact which Amir will make on the business.”

Original article featured here…

Avamore recently expanded its team in the Midlands with the addition of new originators; Tirath Singh joined the company as the first of two new hires.

source https://commercial-mortgages-broker.co.uk/avamore-capital/avamore-appoints-new-relationship-manager-for-london/

Puma Property Finance closes 4 development loans in just 4 weeks

Puma Property Finance, part of Puma Investments, the development finance specialists, has completed four development loans in just four weeks, with a total of £70m GDV of projects.

A £15m development facility was provided for a project in Milton Keynes, to convert office space into one and two-bed residential units.  There will be 112 units in total in the six-storey building, which is due to complete in September of next year.  It is designed to help meet housing demand from first-time buyers and also cater for BTL landlords.

In Belfast, Puma provided a £11.9m facility for a purpose built student accommodation (PBSA) project.  Completion is expected in August 2022 on the site, which is located just minutes from Queen’s University.

The third development loan, of £10m, was provided in Portsmouth to fund the construction of a PBSA scheme.  This development will feature a common room, dining room, gym and bike storage.

The fourth was a £6.5m loan for the construction of a retirement living scheme.  45 apartments will be built as part of a wider development, including a nursing home and day nursery, in Lymm Warrington.

David Kaye, CEO at Puma Property Finance, said: “We are delighted to have been able to complete four loans across different sectors around the country, building on our track record of helping professional developers access finance and begin their developments with minimal delay.

“As our focus is on being a true relationship lender, it is particularly pleasing to note that two of these loans were repeat transactions with developers with whom we have previously worked successfully.”

Original article featured here…

In January, Puma completed an £8.5m development loan on a 27-month term.  The purpose of the loan is to fund the construction of a care home in Wilmslow, Cheshire.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/puma-property-finance-closes-4-development-loans-in-just-4-weeks/

Roma Finance had record May for pipeline business

Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has achieved a record month for lending, with a 50% increase during May in pipeline business. Last year, the lender reported a 100% increase.

A quarter of all new business is from existing borrowers and customer referrals.  Roma Finance attributes the increase in both cases and enquiries to an escalating need for specialist finance and a desire to increase property portfolios.

Scott Marshall, Managing Director said: “I am delighted by these results showing the overall business growth and just how many people come back to us and recommend us to others. We are privileged to go on the property journey with our broker partners and customers, enabling them to achieve their goals. The more that return, the more we are certain that our unique proposition works. We have a number of exciting developments to follow this year and I am extremely excited to see what the future holds.”

Original article featured here…

Roma have just launched a new bridging product, Roma75, with an LTV of up to 75% and a rate of 0.75%.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/roma-finance-had-record-may-for-pipeline-business/

Masthaven offering its lowest ever bridging rates

Masthaven, the UK bridging loans and development finance bank, has made a number of changes to its bridging loan range, including the launch of their lowest ever bridging rate.  Rates have been cut from 0.48% to start at 0.43% on their core bridging product.

Re-bridging is now available on this product, in addition to the existing re-bridging option on Specialist Bridging products, designed for complex cases and customers who have recent poor credit history.

In addition, Masthaven have made rate reductions to their recently launched refurbishment range, with rates now starting at 0.48%.

The Mini Bridge range has also been changed, with multiple properties now accepted.  This range offers loans between £200,000 and £300,000 and is designed specifically for time critical, straightforward situations.

These products are all available via the Short Term Lending Portal from Masthaven, which offers 24/7 access to brokers and instant and credit-backed decisions in principle.

Alan Margolis, Director of Bridging at Masthaven, said: “The demand for bridging products has grown over the last year as borrowers and brokers alike have looked for short-term finance solutions that allow them the flexibility to navigate what has been a busy but sometimes difficult market.

Lockdowns, Stamp Duty deadlines and pandemic-induced chain breaks have all disrupted the traditional homebuying process and have meant that bridging finance has come into its own.

In February we revamped our bridging range to cater for this growing demand and to give borrowers the solutions they need to navigate an increasingly complex market.

Bridging is now truly a mainstream product and because of this we’ve made sure that our bridging rates are very close to those we offer on our traditional residential mortgages.

With the introduction of our lowest ever bridging rate and the changes to our lending criteria, we’re making Masthaven’s offering even more competitive and ensuring that we can provide more people with the finance that’s right for them.”

Original article featured here…

At the close of 2020, Masthaven published Broker Beat, which showed confidence among brokers for 2021;  256 intermediaries were surveyed and 71%, only a 6% fall from January of this year, are optimistic about the market in 2021.

source https://commercial-mortgages-broker.co.uk/bridging-finance-news/masthaven-offering-its-lowest-ever-bridging-rates/

Roma Finance launches Roma75

Roma Finance,  the bridging finance, short term lending and buy-to-let finance specialist, has launched a new bridging product, Roma75, with an LTV of up to 75% and a rate of 0.75%.

Roma75 is available for loan sizes between £100,000 and £3m.  It is on accessible to borrowers with at least two other BTL properties, or homeowners who have at least one other investment property.

Steve Smith, national sales manager at Roma Finance, said: “With robust and sustainable funding lines in place and the increasing demand for our products, now is the right time to launch this enhanced solution.

“To cope with higher demand we are continuing to expand and develop the team and we are seeing incredible growth across all our lending areas. The new product will further stimulate our business and we will continue to deliver a more extraordinary service to our intermediaries and customers.”

Original article featured here…

Roma Finance recently promoted Steve Smith to national sales manager.  He previously held the role of senior business development manager for the South West.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/roma-finance-launches-roma75/

Roma Finance launches Roma75

Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has launched a new bridging product, Roma75, with an LTV of up to 75% and a rate of 0.75%.

Roma75 is available for loan sizes between £100,000 and £3m.  It is on accessible to borrowers with at least two other BTL properties, or homeowners who have at least one other investment property.

Steve Smith, national sales manager at Roma Finance, said: “With robust and sustainable funding lines in place and the increasing demand for our products, now is the right time to launch this enhanced solution.

“To cope with higher demand we are continuing to expand and develop the team and we are seeing incredible growth across all our lending areas. The new product will further stimulate our business and we will continue to deliver a more extraordinary service to our intermediaries and customers.”

Original article featured here…

Roma Finance recently promoted Steve Smith to national sales manager.  He previously held the role of senior business development manager for the South West.

source https://commercial-mortgages-broker.co.uk/news/roma-finance-launches-roma75/

Aldermore provides £1.3m loan for commercial development

Aldermore, the specialist finance lender, has provided a £1.3m commercial development finance loan, for a retail development in the North of England.  The loan will enable the construction of two drive-thru units by West Yorkshire-based property developer Cookridge Estates.

The drive thru units, pre-let to Costa Coffee and Burger King, will form part of a larger roadside and retail development.  A supermarket is already in place on the site and a petrol station and shop will be added.  It is located one mile from Beverley town centre at the roundabout junction of Minster Way, which forms an outer ring road for part of the town.

David Whitehouse, property development manager at Aldermore, said: “This deal is a fantastic example of the work we’re doing in the North of England. The two drive thru units are in a prominent location and within the wider development, there are complementary uses which will all attract customers.”

Iain Bryson, head of property development and specialist property at Aldermore, said: “Aldermore are delighted to be working with Cookridge Estates to deliver this well located pre let commercial property development.”

Duncan Waller, managing director of Cookridge Estates, added: “We’re delighted to work with Aldermore on the final phase of the Minster Way development. Construction is underway for the Costa and the Burger King on time and budget.”

Original article featured here…

Aldermore recently enhanced its residential owner occupied mortgage range with reduced rates and a reintroduction of remortgage products, to support borrowers with less than perfect credit and also those who have complex needs.

source https://commercial-mortgages-broker.co.uk/aldermore/aldermore-provides-1-3m-loan-for-commercial-development/

Roma Finance names Steve Smith as National Sales Director

Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has promoted Steve Smith to national sales manager.  He held previously held the role of senior business development manager for the South West.

Steve has a wealth of experience from twenty five years in retail and commercial banking,  including bridging finance, asset finance, invoice finance and commercial lending.

Steve said: “I am thrilled to have been given this opportunity within Roma. This is a very exciting time for the business and the industry as a whole, and I am looking forward to helping shape the future as part of a highly effective team, ensuring we give both our introducers and customers the best possible experience.”

Scott Marshall, managing director, commented: “We have demonstrated the strength and resilience of our business over the last twelve months which provides with a great opportunity to leverage that experience as we have ambitious plans for future growth. Steve is a highly valued member of the Roma family and will help us to continue this upward trend, playing a key role in achieving our future success.”

Original article featured here…

Roma Finance recently appointed Michael Allison as head of transformational change; in this role, he will be responsible for enhancing processes and upgrading customer and intermediary experiences.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/roma-finance-names-steve-smith-as-national-sales-director/

Shawbrook reaches £1bn lending target early

Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has reached its target to lend £1bn in development finance, nearly a year earlier than forecast.  The lender doubled the number of loans made to property developers in the last financial year, providing 92 in total, at a value of £380 million.  The previous year saw loans at a value of £180 million.

Growth was particularly strong in Bristol and the South West in Shawbrook’s development finance portfolio during the twelve months to April.  This accounted for 25% of the total lend, whilst the South East represented 30% and the Midlands 11%.  A loan for a new development in Birmingham, the Photographic Works, enabled the lender to reach its target.

Terry Woodley, managing director, development finance at Shawbrook Bank, said: “Reaching £1 billion in development loans represents a significant milestone for our business. The fact we have achieved it in less than five years is a testament to the strength of our product, the expertise of our team and our commitment to supporting developers across the sector through challenging periods.

“Appetite for property endured the pandemic. We’ve seen strong demand for funding from large developers delivering significant eco-developments and regeneration projects, to the smaller developers that need a specialist lender to understand how they operate and can work with them as they deliver schemes concurrently.

“Our customers are increasingly pushing boundaries to tackle the UK’s development challenges. As we target the next £1 billion, our focus will be championing the innovation that will ultimately lead to more sustainable and affordable developments in the years to come.”

Original article featured here…

Shawbrooke recently completed a a £27m buy-to-let refinance and capital raising deal, achieved within four working days of the offer being issued.

source https://commercial-mortgages-broker.co.uk/bridging-finance-news/shawbrook-reaches-1bn-lending-target-early/

West One expands team with new portfolio managers

West One, the specialist bridging finance and buy to let finance lender, has hired two new portfolio managers.

Alan Coleman joins the lender with five years of experience in property finance.  He started work for Castle Trust Bank and then spent the last two years structuring and managing residential development finance transactions.

John Newton has also joined West One, having previously worked as portfolio manager for real estate development finance for Shawbrook Bank.  He brings a wealth of knowledge from over ten years experience in property finance.

Alan Coleman said: “Within development finance, there isn’t always a straightforward solution; as such, I believe a lender must be willing to do everything within their power to help a client overcome whatever challenges they may be faced with,”

“There is nothing better than working with clients, brokers and the various professionals involved towards realising a client’s dream.”

John Newton added: “Development finance, especially when dealing with smaller developers, has a lot of characters and makes the industry both interesting and different.

“It’s quite satisfying working with developers who are visionary and entrepreneurial in nature who are genuinely proud of the developments they undertake.

“Of course, dealing with the finance of something as physical as a building is much more memorable — especially if you pass a development that you financed years later knowing, ‘I financed that.’”

Original article featured here…

West One recently expanded its buy-to-let team with new senior hires, to help capitalise on specialist sector opportunities throughout the year.

source https://commercial-mortgages-broker.co.uk/buy-to-let-news/west-one-expands-team-with-new-portfolio-managers/