Student property developer Urban Creation has completed a refinance deal worth almost £12m for some of its portfolio with Hodge Bank. The refinance will transfer some of the developer’s property assets on to long-term investment finance and releases additional funds to allow for further acquisitions of development opportunities. Urban...
Continue Reading
Timbercreek Asset Management has created an Irish commercial property lending business. The Canadian property investment firm has made €200m (approximately £172m) available to support property investment projects across Ireland. Timbercreek’s Irish team will be led by Paul Roddy (pictured above) and will target loan sizes from €1m to €50m...
Continue Reading
Newly launched lender Elysium Bridging has announced its entry into the London private client market. The new Elysium Private Clients division aims to assist high-net-worth property developers secure short-term funding for big-ticket sites within the M25. The news comes just months after Elysium’s launch in March. New bridging lender...
Continue Reading
Specialist distributor First 4 Bridging has announced it has received a 72% rise in development finance enquiries during the first quarter of 2017. The company attributed the increase in part to tighter underwriting within the buy-to-let sector. As a result, First 4 Bridging has launched a new development finance...
Continue Reading
Close Brothers Group’s banking division has reported a 4.1% yearly rise in its loan book following a strong period of growth in property finance. The loan book stood at £6.7bn as of 30th April 2017, up from £6.2bn at the same time last year. The announcement follows the group’s...
Continue Reading
Aldermore has announced the launch of a new contract finance offering. The new service will enable SMEs with an annual turnover above £250,000 to release working capital by advancing funds against their contractual billing. “We have launched our contract finance offering at a time when a growing number of...
Continue Reading
Al Rayan Bank has opened a new office in London’s West End to support its growing commercial finance business. The expansion follows the appointment of two new recruits from Nationwide Building Society in April, which increased the bank’s commercial property team to 11 frontline staff. Commercial property financing was...
Continue ReadingHousebuilder Galliford Try has announced that its partnerships business has completed the acquisition of a leading developer in the South of England. Southampton-based Drew Smith Group – which comprises Drew Smith Limited and Drew Smith Homes – specialises in mixed-tenure developments, land promotion and planning services. The acquisition comes...
Continue Reading
Monzo has revealed that over £250m has been spent via its cards by more than 200,000 customers. The challenger bank has seen a significant rise in customers since hitting the 100,000 milestone just three and a half months ago. The announcement comes a month after Monzo became a fully...
Continue Reading
Plymouth-based MGB, which specialises in engineering for safety critical industries, is gearing up for growth thanks to the planned investment in the UK rail network and an innovative injection of crowdlending. The company, which was formed in 2004, has secured £500,000 in funding from leading UK crowdlender Archover based on...
Continue Reading
Call us