Craig, who previously worked for Sainsburys Bank, has a wealth of knowledge in product, services and innovation design. He has also held roles for NatWest and Tesco Bank. In this new position, he will focus on the bank’s digital products and channels to ensure customers have a great experience with Shawbrook, leading a team of designers, thinkers and makers. The bank plans to further boost its team with at least another 100 new hires by the end of next year. This will be in a variety of roles from developers, cloud and data engineers, product and customer experience designers and technology and data-related roles.
Shawbrook recently appointed a new director, Matt Fannon, to its Corporate Lending team. This is part of an extension of the bank’s presence across Leeds, Yorkshire and the North East. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/shawbrook-enhances-team-with-craig-mcpheat-hire/ from https://commercialmortgages2.tumblr.com/post/671080550044516352
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Earlier this year, the lender launched the EPiC catalogue, a new product range for eco-friendly properties. This range enables borrowers with properties that have an EPC rating of C or above to access reduced rates and fees. For standard properties rates start at 2.65%, for small HMOs at 2.91%, and for large HMOs, MUFBs and holiday lets at 3.49%. LendInvest will continue its eco-friendly efforts by providing incentives for landlords to invest in green properties, and also giving support to those developers and investors who are looking to upgrade properties.
Earlier this month, LendInvest refreshed its bridging product range, with LTVs up to 75% and rates starting at 0.49%. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/lendinvest-reveals-2022-plans-with-eco-friendly-focus/ from https://commercialmortgages2.tumblr.com/post/670812528498065408
This new offering provides facilities up to £750,000. The product is available for properties worth up to £1m, with the maximum LTV at 75% . Hope Capital will be lending based on an open market valuation (OMV) as part of this offer, across residential, commercial and mixed-use property types. The lender will also accept AVMs up to £750,000 and for residential properties (up to £1m), desktop valuations will be accepted.
Last month, Hope Capital enhanced its bridging finance suite for Scotland, which was introduced earlier this year. The lender has reduced rates, raised maximum LTVs and increased the maximum loan amount to £5m, from the previous £1m limit. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/hope-capital-announce-new-bridging-product/ from https://commercialmortgages2.tumblr.com/post/670752149970599936 The November 2021 RICS UK Residential Survey has been published, showing a decline in new property listings for the eight consecutive month, as reported by agents. This lack of housing is resulting in increasing prices, with 71% of respondents noting a rise. This was also noted in October by the same number of those surveyed, suggesting that this price growth is consistent. New buyer enquiries have risen by 13%, higher than the 11% rise in October, but agreed sales were reported to have fallen by 9%. This was the fifth time in a row that a decrease in agreed sales was recorded. Well over half of all respondents (66%) believe prices will continue to escalate nationwide in 2022.
Last November, the 2020 RICS UK Residential Survey showed a steady demand from buyers. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/rics-data-shows-high-demand-and-low-supply-in-housing-market/ from https://commercialmortgages2.tumblr.com/post/670653961755328512
Matt joins from Allied Irish Bank, where he has worked for the past ten years, focusing on Acquisition Finance, Leveraged Finance and Cash Flow Finance. He brings a wealth of experience with him, from over twenty years of experience in the banking sector in total. In his new director role, Matt will focus on the delivery of the full Corporate Lending proposition, including asset-backed and leveraged finance solutions.
Shawbrook recently agreed a £17m development loan to Burnham Waters Ltd. The project to be funded is the first phase of construction on a sustainable retirement village, in Burnham-on-Crouch, Essex. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/shawbrook-hires-new-director-for-corporate-lending-team/ from https://commercialmortgages2.tumblr.com/post/670540749879771136
The research showed that 71% of brokers are noticing awareness of bridging finance growing across the market. Of those surveyed, 51% noted higher demand for bridging finance. Much of this growing interest is focused on specialised lending, with 35% of brokers seeing a rise in cases that would have gone through a high-street lender previously. Chain breaks and mortgage delays were the primary factors behind this increasing demand for bridging finance, according to 41% of respondents. Other driving reasons were cited as a boom in DIY and refurbishments (34%), buying at auction (28%), raising capital (19%) and re-bridging (11%).
Last month, Masthaven become a signatory of the Women in Finance Charter. Signatories pledge to implement four key industry actions, which include setting targets for gender diversity in senior management and annually publishing the progress made in working towards these targets. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/masthaven-study-shows-increasing-awareness-of-bridging-finance/ from https://commercialmortgages2.tumblr.com/post/670453880875827201
Pamela Mitchell, who will be covering Scotland, brings over fifteen years of experience as a property development surveyor. She has previously worked for Regent Capital, Henry Boot Developments, Taylor Wimpey and Drum Property Group in development director and senior development manager roles. Jonathan Driver joins the lender from Homes England, where he worked as a senior portfolio manager, managing a portfolio of equity investments and joint venture partnerships. He has over fourteen years of experience in the banking and finance sector, including twelve years with Lloyds Banking Group in their Real Estate and Corporate Banking divisions. In his new role with Aldermore, he will be covering the Midlands. Kirsty Dyke is also joining the lender, with more than thirteen years of experience from the commercial finance sector. Previously, she was a relationship manager for HSBC and also worked at Barclays Bank for a decade. She will be responsible for the North West region for Aldermore.
Aldermore recently provided a £900,000 invoice finance facility to an Ashton-Under-Lyne based company. The loan was agreed in 2020 to support the purchase of Bar Code Data Ltd, a provider of barcode solutions such as scanners and mobile terminals. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/aldermore-boosts-team-with-new-hires/ from https://commercialmortgages2.tumblr.com/post/670193487282634752
This forms part of West One’s growth strategy, as it continues to work with more networks and mortgage clubs. The lender has hired a new completions case manager, along with four new underwriters to join the team. More new hires are to be added over the next few months.
West One recently made changes to its BTL product suite, including lowered rates and criteria changes. from CMB https://commercial-mortgages-broker.co.uk/buy-to-let-news/west-one-expands-btl-team-with-new-hires/ from https://commercialmortgages2.tumblr.com/post/670076427057676288
This initial phase will include 44 bungalows, of a total of 103 to be constructed by the project overall. In addition, there will be a care home with 70 bedrooms, 55 independent living flats, a gym, swimming pool, tennis courts and also shops and a surgery. The retirement village will have a strong ecological focus and the scheme will aim for a 30% reduction in CO2 emissions (compared with the current building regulation requirements). All bungalows will be energy efficient and each will have a charging point for electric vehicles. Travel needs will be reduced by the amount of on-site facilities and an electric minibus service will be available for residents wishing to visit the local town centre. Construction will start this month, with an expectation that the initial phase of 44 bungalows will be marketed by late spring/early summer of 2023.
Shawbrook recently expanded the remit of its new Enterprise group, led by Neil Rudge, managing director for business finance. This followed the departure of John Eastgate, managing director for property finance. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/shawbrook-provides-17m-development-loan-for-retirement-village/ from https://commercialmortgages2.tumblr.com/post/669985823417139200
The lender has adjusted rates over the entire product range, from residential to commercial, semi-commercial, land and refurbishment. In addition, the maximum LTV on refurbishment finance has been increased to 85%, at a rate of 0.79%. For all standard property applications, customers are now eligible for free legal fees, and also a reduced £150 valuation fee when refinancing to a LendInvest buy-to-let loan. LendInvest have revealed that over half of all new enquiries and applications are not being submitted through their Bridging Portal, which streamlines both the application and case management processes.
LendInvest recently cited Scotland as having the highest BTL yields right now, and predict that house sales and prices will continue to rise in the major cities. This is due to low supply coupled with high demand. from CMB https://commercial-mortgages-broker.co.uk/bridging-finance-news/lendinvest-refreshes-bridging-suite-suite-2/ from https://commercialmortgages2.tumblr.com/post/669906548563345408 |
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