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Aldermore research shows majority of landlords aware of EPC changes
Aldermore, the specialist finance lender, has published its research ahead of the EPC changes. In 2025, all newly rented properties are required to have an EPC rating of C or above. From 2028, this will apply to all existing tenancies as well.
The research shows that landlords estimate they will face an average of £10,400 per property with a rating of C or below, to ensure they are up to standard. 71% of landlords will pay for upgrades from existing savings, 25% will use Government funding, 23% will raise monthly rents and 11% will seek advice from their mortgage lender.
Just 18% of landlords claimed they were unaware of the upcoming EPC changes. The majority, 62%, are aware and understand the changes fully. Understandably, this will deter landlords from buying properties with an EPC rating of D or below, with 65% saying they would be less likely to purchase such a property now.
Jon Cooper, director of mortgage distribution at Aldermore, said: “With people’s lives revolving more around their homes than ever before, a robust private rented sector has never been more vital. The data suggests the looming EPC change will cause challenges, but the more support landlords receive from brokers and lenders now, the easier it will be to navigate.
“Encouragingly, awareness appears high among landlords so many will be thinking about what changes may need to be done already. As we move towards a post-pandemic environment, many landlords will be looking to the future, so it is the perfect opportunity for brokers to have conversations with their clients about the EPC ratings. This will ensure, where needed, a plan for financing can be mapped out to assist landlords in getting non-compliant properties up to standard.”
Original article featured here…
Earlier this month, Aldermore launched a new residential range and cut rates across its existing products.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/aldermore-research-shows-majority-of-landlords-aware-of-epc-changes/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/aldermore-research-shows-majority-of.html
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West One makes changes to BTL suite including rate reductions
West One, the specialist bridging finance and buy to let finance lender, has made a series of rate changes to its BTL suite. The lender has also made criteria changes and added new products.
For HMOs and MUBs in the W1 Specialist product range, rates now start from 3.34%. The two-year fixed product has been reduced by 15 basis points, now starting from 3.49%.
The Short-term let product, on a five-year fixed term, has been reduced by 0.15%, now starting from 3.94%.
Amongst the new mortgages West One has added is a 75% LTV limited edition at 2.99% in the Standard W1 range, with a five-year fixed payrate. The green products in the Standard W1 range have been reduced by 15 basis points, and a new 75% LTV product added, with rates starting at 2.94%.
The lender has also added two HMO/MUB products, both of which are limited edition. For properties up to six beds or units, there is a £750,000 maximum loan size, at 3.29%. For those with seven to ten beds, there is a maximum loan of £1.5m, at 3.74%.
In addition, West One has made a series of criteria changes. For the Standard W1 range, the maximum loan size for core products has been increased from £1.5 million to £2 million on an individual asset. Portfolio lending has been raised from £5 million to £10 million per borrower. Also, leasehold block exposure has been increased to twenty units, with 100% exposure possible.
Managing director of buy-to-let, Andrew Ferguson, commented: “These criteria changes will ensure we remain amongst the most flexible buy-to-let lenders on the market. This added flexibility means brokers and their clients can continue investing in a buoyant rental sector.
“Those investing in rental properties have been increasingly looking for specialist buy-to-let products, and as we specialise in HMOs and MUBs we are well placed to offer finance to both new, and experienced landlords.
“While we have competitive rates, what separates West One from other lenders is our flexible underwriting and excellent service. Despite being larger than many peers we are nimble, can make decisions quickly and have the entrepreneurial approach of a much smaller lender.”
Original article featured here…
In November, West One announced changes to its BTL product suite, including lowered rates and criteria changes. In the green product range at 65% LTV, rates now start from 2.99% for a 2-year fix, with a 1.25% product fee.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/west-one-makes-changes-to-btl-suite-including-rate-reductions/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/west-one-makes-changes-to-btl-suite.html
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Roma Finance strengthens team with promotions
Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has made three internal promotions to director.
Steve Smith, now sales director, joined as BDM in 2019. He was promoted to national sales manager in 2020 and then to head of sales last year.
Michael Allison has also been promoted, to operations director. He joined Roma Finance in May 2021, as head of transformational change.
The other internal promotion is for Matthew Severs, who is now finance director. Matthew joined the lender just over a year ago, as financial controller. He replaces Keith Richardson, who is the new chief financial officer.
Scott Marshall, managing director at Roma Finance, said: “I have said this before, but I have never been as excited about the future of Roma as I am right now.
“We have fantastic people in every department and this is the perfect time to create this organisational structure with inspirational and innovative leaders.
“Steve, Michael and Matt have all demonstrated their skills and commitment to the business and this is largely why we are now in such a fantastic position.”
Steve Smith added: “I am thrilled to have been given this next opportunity within the business.
“We are all focussed on delivering the best possible experience for everyone who works with us, and we are all aligned in our goals and what we want the business, our partners, our customers and our team to achieve.
“It is a very exciting time to be at Roma.”
Original article featured here…
Earlier this month, Roma Finance appointed a new bridging & development specialist, Samantha Williamson.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/roma-finance-strengthens-team-with-promotions/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/roma-finance-strengthens-team-with.html
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United Trust Bank’s asset finance division achieves a record high
United Trust Bank (UTB) the buy to let, bridging finance and development finance lender, has revealed that its asset finance division now has a loan book exceeding £200m, for the first time.
The originations for the asset finance business rose by 136% last year, making it the fastest growing division in the bank, both in business volume and headcount.
The bank will continue to build upon this success by expanding its team, making investments in technology and also developing new, innovative products. UTB also announced that it will transact more higher value loans, up to £2.5m.
Nathan Mollett, head of asset finance at UTB, said: “2021 was a very successful year for UTB’s asset finance business.
“We more than doubled our new business lending year on year and we’ve grown the team in all departments.
“We have great people working at all levels of the division, all equally committed to providing exemplary broker service and putting UTB on the map as one of the best specialist asset finance lender in the market.
“The technology we’re implementing this year is designed to further simplify processes and accelerate turnaround times without sacrificing that vital USP and we’re developing some exciting new products which will help brokers develop their businesses into new markets.
“We are dealing with more brokers than we ever have before, so in addition to investing in technology, we are continuing to recruit experienced professionals to ensure we maintain those strong relationships and deliver the very best experience to brokers and their customers.”
Original article featured here…
Towards the end of 2021, UTB recruited Mark Stokes into the new role of chief commercial officer. Stokes has over 20 years’ experience at executive committee level – including work with Lloyds Bank, RBS, Black Horse and Chartered Trust – and joins UTB from his previous role as managing director at Metro Bank – commercial banking.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/united-trust-banks-asset-finance-division-achieves-a-record-high/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/united-trust-banks-asset-finance.html
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Aldermore launches residential range and makes rate cuts
Aldermore, the specialist finance lender, has launched a new residential range and cut rates across its existing products.
The new range of fee-free mortgages comes with free legals on remortgages. Rates start at 3.08% up to 75% LTV and from 3.28% at 80% LTV for the two-year fix. For the five year fix, rates start at 3.38% up to 75% LTV and from 3.58% up to 80% LTV.
The lender has also reduced rates by 30 basis points on selected purchase and remortgage products which charge a £999 fee. At 75% LTV, the two-year fixed rate is now 2.78% and for the five-year fixed rate, at 2.98%. At 80% LTV, the two-year fixed rate has been reduced to 3.08% and for the five-year fixed rate, to 3.28%.
Jon Cooper, head of mortgage distribution at Aldermore, commented: “We’re delighted to introduce improvements to our residential mortgage range, providing new pricing, product choice and removal of fees to support prospective and existing homeowners.
“At Aldermore, we aim for a human approach when it comes to supporting those with complex needs or less than perfect credit. Our enhanced human underwriting process allows us to dig into the detail of a borrower’s application, crucial against today’s market backdrop. This gives us a better understand of the ever-widening range of individual circumstances so we can better serve new and existing borrowers in 2022.”
Original article featured here…
Aldermore recently appointed three new property development managers to its commercial real estate team, as part of its growth strategy; Pamela Mitchell, Jonathan Driver and Kirsty Dyke.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/aldermore-launches-residential-range-and-makes-rate-cuts/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/aldermore-launches-residential-range.html
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Hope Capital expands sales team
Hope Capital the short term lending and bridging finance house, has hired two new staff members for its sales team.
Danielle Evans and David Weir join Hope Capital as part of a larger expansion plan which began last year.
Danielle, who is CeMAP qualified, joins from Alternative Bridging Corporation, with over 14 years of industry experience. She has also held roles at Precise Mortgages and Avamore Capital. She will be overseeing Hope Capital’s cases across the Midlands and South Wales as an internal business development manager, ensuring support is given to brokers looking for bridging finance solutions.
David joins from Deloittle and Barclays, with experience in direct relationship management, mortgages and investments. His new role is also internal business development manager, to give support for the volume of enquiries.
Danielle Evans said: “This is a fantastic time to be joining Hope Capital,”
“Having heard many great things about the business and team, I am delighted to start the new year with this exciting opportunity, and I look forward to building on Hope Capital’s success throughout 2022.”
Roz Cawood, director of sales at Hope Capital, added: “We are delighted to welcome Danielle and David to the Hope Capital team.
“Danielle and David have extremely successful track records, so I have no doubt they will both be fantastic assets to the business.”
Original article featured here…
Hope Capital had a busy year for bridging finance in 2021. Writing in a blog, managing director Gary Bailey noted that amidst the uncertainty of the year, there had been steady growth in the demand for bridging loans enabling customers to undertake refurbishment works.
source https://commercial-mortgages-broker.co.uk/bridging-finance-news/hope-capital-expands-sales-team/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/hope-capital-expands-sales-team.html
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Paragon launches new BTL products
Paragon Bank, the specialist lender, has added four new five-year fixed rate products to its buy-to-let range.
These mortgages are designed for portfolio landlords, either individuals, limited companies or limited liability partnerships.
Available at 70% and 75% LTV, these new products come with a free valuation and £750 cashback. There is no longer a £100,000 minimum loan rule and the products can be used for both purchase and remortgage.
Rates start at 2.95% for properties that have an EPC of C or above, and at 3.05% for properties with an EPC rating of D or lower.
Paragon director for mortgage sales Moray Hulme says: “Our recently refreshed product range has proven popular, suggesting that landlords have been actively modifying their portfolios, whether that be boosting private rented sector stock through purchasing additional properties or taking advantage of the current low-rate environment to get a good remortgage deal.”
Original article featured here…
Paragon recently unveiled new pricing for its switch and further advance products, available for both portfolio and non-portfolio landlords.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/paragon-launches-new-btl-products/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/paragon-launches-new-btl-products.html
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Puma secures second institutional funding line
Puma Property Finance, part of Puma Investments, the development finance specialists, has agreed a £300m institutional funding line, from Waterfall Asset Management.
This new funding line will enable Puma to expand its development lending proposition, with the ability to offer facilities of up to £50m, and work with a wider range of professional developers.
In 2018, Puma secured its first institutional funding line with RoundShield Partners, for £200m.
This will mark the first time that Waterfall Asset Management have partnered with a development finance specialist.
David Kaye, CEO at Puma Property Finance, said: “We are delighted to partner with Waterfall Asset Management.
“This funding line will provide a springboard for the next phase of our growth and reinforces our position as one of the substantial non-bank lenders to the UK development finance market.
“As the mainstream banks continue to eschew much mid-market development lending, we recognise the critical role non-bank lenders play in providing access to capital.
“Borrowers are increasingly looking for lenders who can be flexible and move quickly, as well as bringing a human touch; we seek to address that need.”
James Cuby, managing director at Waterfall Asset Management, commented: “Our decision to partner with Puma Property Finance is testament to the strength of its lending business, the professionalism of its team and its impressive growth trajectory.
“Our businesses share the same refreshing approach to relationship lending and we are delighted to support the Puma team’s expansion plans.”
Original article featured here…
Last year, Puma Property Finance completed four development loans in just four weeks, with a total of £70m GDV of projects.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/puma-secures-second-institutional-funding-line/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/puma-secures-second-institutional.html
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Rightmove data shows jump in average house price
Rightmove have released their latest findings on the UK property market, showing a 7.6% increase in the average property price on an annual basis in January. Since December last year, house prices have risen by 0.3%, now at an average of £341,019. The last time a growth rate of this magnitude was seen was May 2016.
The data showed an escalation of 6.8% in house prices on an annual basis for first-time buyers, 1.4% monthly, which brings the average house price to £214,176 for those entering the property market for the first time.
Illustrating the current gap between supply and demand, the figures also show an all-time low of just 12 houses for sale per estate agent branch, compared to a rise in buyer enquiries of 15% annually. Valuation requests in January had increased by 48% since January of 2020.
Rightmove director of property data Tim Bannister comments: “People who have made it their New Year’s resolution to move are finding asking prices are within just one per cent of the record from October last year, and are at the highest level ever recorded for FTB type homes.
“All of the signs suggest that prices are likely to continue to rise until more choice is available. Three regions are in most urgent need of new supply, the East Midlands, South West and South East of England, as they are now at unsustainable rates of annual price growth above 10%.”
And MT Finance director Tomer Aboody says: “With such a lack of supply of good properties on the market, combined with plenty of cheap mortgages, buyers are pushing themselves to make sure they don’t miss out and asking prices continue to rise as sellers take advantage. If that means having to pay more for a home, then many buyers are prepared to do so.
“With inflation continuing to rise and higher mortgage rates likely at some point, this situation is unlikely to change in the short term if the supply situation does not improve. It remains to be seen what will happen as something approaching ’normality’ returns and things settle down.”
Original article featured here…
MT Finance recently appointed their first non-executive director, Chris Patrick, to assist with MT Finance’s growth plans, focusing on funding strategy, ESG initiatives and technology.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/rightmove-data-shows-jump-in-average-house-price/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/rightmove-data-shows-jump-in-average.html
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Roma Finance announces new bridging & development specialist
Roma Finance, the bridging finance, short term lending and buy-to-let finance specialist, has appointed a new bridging & development specialist, Samantha Williamson.
Bringing a proven track record in bridging and development with her, Samantha will be working on enhancing the customer experience with Roma and giving support to investors in reaching their goals.
Samantha Williamson said: “I am very excited for this next move within Roma, the business capabilities and variety of projects we work on ensures no two days are ever the same. My experience with my own property portfolio and previous roles will be vital in this new challenge and allow Roma to deliver a further improved experience.”
Steve Smith, national sales manager for Roma, added: “We have demonstrated strength and growth over the last 12 months and we are dedicated to providing education and specialist support to our partners and customers.
“Samantha is a true asset and valued member of the Roma team and will play a pivotal role in this next phase of education and growth.”
Original article featured here…
Towards the end of last year, Roma Finance made a number of promotions and new hires; Jack Ainsworth and James Edwards were promoted to senior underwriters, Farah Akhtar started on the underwriting team and Adam Gibb joined as BDM for the South West and South Wales.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/roma-finance-announces-new-bridging-development-specialist/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/roma-finance-announces-new-bridging.html
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Interbay enhances range with rate reductions
Interbay Commercial, the bridging finance, commercial mortgages and buy-to-let specialist finance provider, part of OneSavings Bank, has cut rates by up to 50 basis points, on its semi-commercial and commercial ranges.
Following these reductions, rates now start at 4.69% on two, three and five-year fixes. The maximum LTV has been raised to 75%.
The lender has also expanded the number of asset classes it considers, and removed all ERCs. In addition, borrowers now only have to provide three months’ proof of rent.
Emily Hollands, head of specialist finance at InterBay, said: “We’re ready for a strong commercial market in 2022 and to help support investors with their business plans, we’ve developed a range of products which offer a wide choice of lending solutions.
“Brokers applying for one of our mortgages will benefit from a personalised, flexible approach, delivered in partnership with our specialist finance account managers and aided by our in-house real estate team which has many years of experience supporting complex cases.
“We’re starting the year as we mean to go on and this is only the beginning of what we’ve got planned for the coming months.
Original article featured here…
Last October, Interbay relaunched its BTL range.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/interbay-enhances-range-with-rate-reductions/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/interbay-enhances-range-with-rate.html
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Landbay now an official carbon neutral business
Landbay, the buy-to-let lender, is now officially certified as a carbon neutral business, after limiting its greenhouse gas emissions.
The lender has offset its emissions, mainly from the HQ building and staff commutes, via the UK offsetting programme, Carbon Neutral Britain. This initiative funds renewable energy projects, such as the Angkor Bio Cogen project in Cambodia and Burgos Wind Project in the Phillipines.
Landbay will have this carbon neutral business certification for a year, and will need to renew it annually.
Julian Cork, chief operating officer at Landbay, said: “It has never been more important for businesses to step up and take account of the environmental impact associated with their operations,” he added.
“Looking to do our part for the environment, we have offset via the Carbon Neutral Britain Climate Fund, which supports wind, solar, hydro and cook stove projects.
“They all have a strong focus on providing lasting social and economic benefits in developing countries around the world.
“I would like to thank the ESG team at Landbay, which consists of volunteers from each of the functional areas, who have worked hard on this.”
Original article featured here…
Landbay recently revealed a BTL product refresh and made enhancements to its green range, which now includes new builds.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/landbay-now-an-official-carbon-neutral-business/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/landbay-now-official-carbon-neutral.html
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Shawbrook data shows 15% of landlords unaware of upcoming EPC changes
Shawbrook, the specialist UK savings, development finance, and bridging finance bank, has conducted research which found that 15% of landlords are unaware of the upcoming changes to the EPC (Energy Performance Certificate) rules. In 2025, all properties with new tenancies will be required to have an EPC rating of C or above. In 2028, this will apply to all rental properties.
Millions of properties could potentially become ‘unrentable’ and therefore ‘unsellable’ or ‘unmortgageable’ due to the number of landlords being unaware of what will be required by 2025. In particular, older properties may need a substantial amount of work in order to gain an EPC rating of C or above, which may mean a loss of income whilst the work in carried out. 36% of landlords surveyed had pre-1940 properties, indicating a large number of landlords who will be required to make changes.
In total, 25% of the landlords had little to no knowledge of these future regulation changes. Those who have been renting properties for more than a decade had the least knowledge about the upcoming changes.
Emma Cox, Sales Director at Shawbrook Bank, comments: “The true extent of what this legislation could mean for the market has not yet been properly realised. Inaction could see a considerable percentage of the private rental sector declared unrentable or unsellable within a matter of years if landlords don’t take important steps now.
“Making changes to improve a property’s energy efficiency rating will help to improve the overall energy efficiency of the UK housing stock and to assist the government in meeting the ambitious net-carbon zero targets set out earlier this year. But on a more direct level, making the improvements ahead of the impending 2025 deadline will ensure that properties remain commercially viable for the short and long term for landlords. Putting off making necessary changes could leave landlords exposed to extended void periods when their property can’t be rented out while works are being completed.
“Mortgage lenders, and key players in the market, have a big role to play in supporting landlords by helping them to understand the new legislation, the potential impact this could cause and how to take action if required. Our research indicates a clear gap in landlords’ understanding of how the changes will impact them and their current yields. As well as these risks to landlords, renters may also be put in an even worse position as they compete for a smaller number of properties that are rated C or above after the 2025 deadline.”
Original article featured here…
At the close of last year, Emma Cox, Sales Director at Shawbrook Bank, noted the challenges faced by landlords with the new rules on EPCs. Emma pointed out the difficulties this will bring for those that own older rental properties, as improving their energy efficiency may take considerable work.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/shawbrook-data-shows-15-of-landlords-unaware-of-upcoming-epc-changes/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/shawbrook-data-shows-15-of-landlords.html
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Hampshire Trust Bank appoints head of new business for property finance
Hampshire Trust Bank, the specialist lender, has appointed a head of new business for property finance, Sherice Neil.
Sherice joins from MT Finance, where she was head of new business. In her new role, she will report to Louisa Sedgwick, the managing director of specialist mortgages.
The initial focus of the role will be leading the new business team for specialist mortgages and enhancing the delivery of the service proposition, alongside the specialist mortgages leadership teams.
Louisa Sedgwick, managing director of specialist mortgages at Hampshire Trust Bank, said: “It’s great to welcome Sherice to HTB. Her enthusiasm and advocacy for the intermediary market is second to none. I can’t wait to see what she can bring to the HTB.”
Sherice Neil added: “As I’ve looked to the next step in my career, HTB seems like an obvious fit. Their passion to do what’s right for the broker resonates so much with me.”
Charles McDowell, head of specialist mortgages at HTB, said: “Anna has been a fantastic team member at HTB and although it’s always sad to see friends move on, we all recognise that things come to an end. We wish Anna all the best fortune for the future.”
Original article featured here…
Hampshire Trust Bank recently promoted Louisa Segwick to managing director of specialist mortgages.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/hampshire-trust-bank-appoints-head-of-new-business-for-property-finance/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/hampshire-trust-bank-appoints-head-of.html
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Landbay simplifies green range and reduces rates
Landbay, the buy-to-let lender, has revealed a BTL product refresh and made enhancements to its green criteria.
The two-year fixed rate at 65% LTV has been cut to 2.65%, and the five-year fixed rate at 75% LTV, with free valuation options, has been reduced to 3.04%.
The lender is now including new builds in its green range, previously exclusively for existing properties. This range offers a rate reduction for properties that have an EPC rating of C or above. The range has been simplified, so all properties rated C and above now fall under one product. For this product, the rate has been reduced with the five-year fix at 70% LTV now at 2.94%.
Rates have also been reduced for the small HMO and MUFB range, which includes new build properties. The 75% LTV products are now available from 3.34%.
Paul Brett, managing director of intermediaries at Landbay, commented: “Despite the Bank of England raising the base rate by 0.15% in December, we are in a position where we are able to lower rates.
“We have access to strong funding lines and our funding partners are keen to support our competitive product position, which we intend to maintain.
“Last year we expanded our product range even further by making significant inroads into helping small portfolio landlords, HMO landlords and those aiming to be environmentally friendly.
“We have been blown away by the interest and take-up of our green range as more property investors are realising the importance of making their property energy efficient. Around one in 10 of our loans are for new build property so it makes perfect sense to extend our green mortgage to this cohort of landlords.”
Original article featured here…
In December, Paul Brett reflected on the UK BTL property market in 2021 and how demand has outstripped supply.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/landbay-simplifies-green-range-and-reduces-rates/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/landbay-simplifies-green-range-and.html
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Castle Trust makes enhancements to product range
Castle Trust, the short term, bridging finance and specialist finance provider, has announced a number of product enhancements to start off the new year.
In the TermTen range, the five-year fixed rate at 75% LTV has been cut to 4.15%. The special rates in this range for the five-year fix of 3.95% up to 70% LTV and also 4.50% up to 75% LTV, with a two year ERC, are being maintained.
The cashback offer that was introduced at the end of last year, up to £5,000 cashback plus VAT on valuation fees, has now been extended until the end of April this year.
In addition, the lender has enhanced its valuation criteria. All property portfolios are now being assessed on open market value, freehold blocks of up to 20 units are assessed on aggregate market value and those with over 20 units are now assessed on investment block value.
Rob Oliver, sales director at Castle Trust Bank, said: “At Castle Trust Bank, we understand that a good specialist buy-to-let proposition is a combination of factors, including rate, service, criteria and incentives, and we are always looking into how we can improve our proposition for brokers and their clients.
“Our new year enhancements include a significant rate reduction on one of our most popular products, the extension of great rates we had previously introduced as special offers, and we are continuing our valuation cashback offer until the end of April. This has already been in high-demand and we know that the current environment and prevalence of the Omicron variant means many businesses in the property industry are currently working under capacity, which is prolonging the process for many transactions. So, it seems only right that we extend this offer to give as many customers the opportunity to benefit from it as possible.”
Original article featured here…
In December, Castle Trust announced the new cashback offer, up to £5,000 cashback plus VAT on valuation fees, offered across the whole product range.
source https://commercial-mortgages-broker.co.uk/bridging-finance-news/castle-trust-makes-enhancements-to-product-range/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/castle-trust-makes-enhancements-to.html
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LendInvest plans to substantially increase team in 2022
LendInvest, the London based buy to let finance and bridging finance platform, has revealed plans for a recruitment drive.
New hires will be made across the business as part of new product launch plans and in order to deliver key projects for the coming year.
After its initial public offering made in July of 2021 on London’s AIM, the lender will also be making a substantial investment to enlarge its technology team.
Peter Wallis, vice president of technology for LendInvest, said: “We’re excited to play a large role in delivering and launching new products, as well as building on our current technology to automate more processes making it simpler for brokers to submit deals and for our teams to deliver them,”
“We hope the technology team will grow from 55 to 100 people by the end of the year.”
Original article featured here…
Last month, LendInvest revealed plans for new product launches this year. The lender will have a drive towards energy efficiency, which will be reflected by the whole industry, including its EPiC catalogue, the product range for eco-friendly properties.
source https://commercial-mortgages-broker.co.uk/buy-to-let-news/lendinvest-plans-to-substantially-increase-team-in-2022/ from Commercial Mortgages Broker https://buytoletfinance.blogspot.com/2022/01/lendinvest-plans-to-substantially.html
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