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  • Shawbrook introduces new regulated bridging mortgage products | Mortgages for Business
    to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Shawbrook introduces new regulated bridging mortgage products 06 10 15 Written by Steve Olejnik The launch of Shawbrook s two new specialist mortgage products meets the high demand from the bank s business partners and further demonstrates the strength of this sector after data recently revealed that regulated bridging loans had increased by 15 in Q2 of this year The launch of Shawbrook s two new specialist mortgage products meets the high demand from the bank s business partners and further demonstrates the strength of this sector after data recently revealed that regulated bridging loans had increased by 15 in Q2 of this year Shawbrook s RB1 Regulated Bridging Mortgage no refurbishment and RB2 Regulated Bridging Mortgage light refurbishment are available alongside its existing commercial mortgage products and are the bank s first residential mortgage offering The RB2 product provides the option to carry out light refurbishment works on either new or existing properties in order to add value before sale Eligible customers will be able to borrow between 50 000 to 2 5m for a maximum 12 month term and loans start from 0 59 per month with an LTV of up to 70 Interest is also rolled up and repayable upon exit Discussing the new products Karen Bennett sales and marketing director commercial mortgages for Shawbrook Bank explained that the move to regulated bridging was a natural progression for the bank After extensive research into the sector she said they wanted to be able to provide traditional finance solutions for chain breaks and for those looking to

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/october-2015/shawbrook-introduces-new-regulated-bridging-mortgage-products/ (2016-02-16)
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  • Aldermore expands bridging offering | Mortgages for Business
    Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight Aldermore expands bridging offering 17 09 15 Written by Jeni Browne Aldermore has loosened its bridging loan offering by reducing its minimum valuation for light refurbishment down to 75 000 from 100 000 In doing so Aldermore is bringing its bridging criteria in line with its residential and buy to let mortgages The minimum age required for those qualifying for its bridging loans has also been reduced from 25 to 21 unless the applicant is a first time landlord and the bank has extended its family gifted deposits to include additional family members aunts and uncles and foster parents or legal guardians Finally when customers are ready to exit their bridging loan Aldermore s bridge to term offering allows them to switch to a buy to let or commercial product for long term funding Charles Haresnape group managing director mortgages Aldermore said As the demographics of who is seeking a bridging loan changes and we increasingly move away from the idea of the average customer a reduction in the minimum age reflects our commitment to continually improve our products and services and to

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/september-2015/aldermore-expands-bridging-offering/ (2016-02-16)
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  • Self-cert mortgages available as new lender opens its doors | Mortgages for Business
    equity investors and based in the Czech Republic launches with a tracker loan set at 2 above base rate The start up will lend up to 500 000 at 85 loan to value with fees reported to be around 600 Initially targeted towards self employed borrowers self cert mortgages do not require proof of income and were a very popular source of mortgage finance until they were banned by the Mortgage Market Review While self cert mortgages are still banned for FCA regulated lenders Graeme Wingate the founder of unsecured lender Quick Loans has managed to bypass UK regulation by setting up the business in Prague Selfcert co uk plans to assess affordability by analysing social media accounts and will accept customer invoices as evidence of income Graeme Wingate founder of Selfcert co uk said We hope to do all the paperwork in house which means we can do it for much less than high street lenders We had emails of support from around the UK We have an unofficial waiting list of about 80 people There are lots of wealthy people who just don t fit banks criteria and are being punished with high rates Previous analysis by the Financial Conduct Authority FCA has shown that self cert borrowers take out larger loan amounts than borrowers with standard products and fall into arrears much more frequently In November a spokeswoman for the FCA stated A firm located in an EEA Member State can provide a lending service under the Electronic Commerce Directive to UK consumers but the service has to be provided solely at a distance and on line This service however would not be regulated by the FCA and if something went wrong the FCA is not generally able to intervene additionally there would be no recourse to

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2016/january/self-cert-mortgages-available-as-new-lender-opens-its-doors/ (2016-02-16)
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  • October sees a decline in first-time buyer activity | Mortgages for Business
    Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight October sees a decline in first time buyer activity 27 11 15 Written by Gary McKenna Research reveals that first time buyer transactions slowed in recent months with both completions and the size of average deposits on the decline Your Move and Reeds Rains first time buyer tracker has found that there were 28 100 first time buyer completions in October 2015 This is an 8 5 drop from the previous three months The average deposit also fell by 2 1 to 21 611 over the same period The news comes after Chancellor George Osborne unveiled the London Help to Buy Scheme in his Autumn Statement yesterday in which he also pledged fresh support for shared ownership schemes Both schemes aim to provide first time buyers with a helping hand onto the property ladder although the specifics of the schemes are yet to be detailed in full Adrian Gill director of estate agents Your Move and Reeds Rains said First time buyer sales are enduring a slight winter chill this month As Christmas fast approaches alongside all the additional costs that come with it many will be holding off until the New Year before they put their first foot on the property ladder Despite the slight slowdown however

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/november-2015/october-sees-a-decline-in-first-time-buyer-activity/ (2016-02-16)
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  • September figures show mortgage approvals up by 24% | Mortgages for Business
    Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight September figures show mortgage approvals up by 24 26 10 15 Written by Jenny Barrett Latest figures from the British Banking Association reveal that the number of mortgage approvals climbed by 24 year on year in September 2015 with remortgaging up by 40 and the number of house purchases up by 14 The BBA a leading trade association for the UK banking sector has published the latest figures for September 2015 in its High Street Banking Statistics report At 12 1 billion in September gross mortgage borrowing was 17 higher than in the same month last year Overall mortgage stock is now 1 7 higher than a year ago despite seeing a decrease in demand in the second half of 2014 Following a consistent rise for most of 2015 the report indicates a slight drop in house purchase approvals in September Nevertheless there were still 14 more approvals compared to the same month last year Remortgaging approvals also dipped slightly in September but were still 40 higher than last year Other approvals were also 40 higher than a year ago As such approvals overall were lower than in August 2015

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/october-2015/september-figures-show-mortgage-approvals-up-by-24/ (2016-02-16)
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  • 78% of home owners on variable rate mortgages fail to budget for rate rise | Mortgages for Business
    Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share News Insight 78 of home owners on variable rate mortgages fail to budget for rate rise 08 09 15 Written by Jeni Browne Despite anticipating a rate rise in the next 12 months the majority of variable rate borrowers are not budgeting for an increase in their mortgage payments a survey revealed this week According to Equifax which commissioned the survey 78 of home owners on a variable rate mortgage were unprepared for the impact a rise in rates would have on their financial situation This is despite 80 expecting UK mortgage rates to increase within 12 months Furthermore 28 of the 400 variable rate home owners surveyed did not know by how much their mortgage payments would rise should rates increase by 0 5 Nearly half 41 of those surveyed said they would go out less in order to cover the larger mortgage payments while a third said they would forgo their holidays Only 6 said they would cut back on their pension contributions Equifax banking and financial institutions director Jake Ranson said The low interest rate environment has created a false sense of security among many home owners particularly for those who have taken out their first mortgage in recent years Home owners have had time to get their house in order yet

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2015/september-2015/78-of-home-owners-on-variable-rate-mortgages-fail-to-budget-for-rate-rise/ (2016-02-16)
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  • Playing the long game | Mortgages for Business
    10 year fixed rate residential mortgage Recently a client asked me for a 10 year fixed rate home owner mortgage As I began researching I admit I was thinking it was a waste of time no one ever takes a 10 year fixed these days they are always far too expensive So when I saw a 10 year fixed at 3 89 4 1 APR I have to say I felt a little sheepish Now 10 year fixes aren t for everybody because of the exit fees which span the full 10 years Many people worry about long term fixes because they took one in the past and then rates came down and their fixed rate ultimately looked rubbish However today I would argue to that person this was when rates were being fixed at 4 5 and above and Bank Rate was at 5 Today rates are at an all time low and will go up In times gone by being able to fix for even five years at sub 5 was regarded as a good deal So this 10 year rate to my mind is a corker So other things to note Its available to 70 LTV the lender is fine with landlords no restrictions on the number of properties in the background and they will even take rental profit as income There is a lender arrangement fee of 1 499 which will feel toppy but let s not forget that you won t have to remortgage and pay another arrangement fee for 10 whole years if you were to take a two year fixed with a lender arrangement fee of 1k you will save yourself 3 5k over 10 years on arrangement fees alone As always we are happy to talk through your options so if this

    Original URL path: http://mortgagesforbusiness.co.uk/news-insight/2014/february/playing-the-long-game/ (2016-02-16)
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  • David Whittaker | Mortgages for Business
    upon to give advice on lending criteria and help design new products A colourful figure within the industry David is renowned for telling it like it is He is frequently asked for comment by both the national and trade press and is a regular speaker at industry events In addition to the above David still manages his own clients He is a savvy negotiator working with brokers on complex commercial buy to let and property development finance deals that can only be placed with the specialist lenders David is also managing director of Keystone Buy to Let Mortgages which provides funding solutions to existing property investors and landlords Experience David trained as a civil engineer at Sheffield University and then spent 10 years as an officer in the Royal Engineers On leaving the army he joined broker John Charcol in 1987 Spotting a gap in the market to source mortgages for business owner occupiers in Kent David left Charcols in 1990 to set up his own brokerage From a small office with just three people and a dog David developed the business into one of the UK s leading specialist brokers which has won numerous prestigious industry awards from the likes of What Mortgage magazine Business Moneyfacts Mortgage Strategy magazine and Incisive Media British Mortgage Awards David was instrumental in setting up the National Association of Commercial Finance Brokers in 1992 the body that promotes best practice within the industry and operates via a strict code of conduct He has twice been its President in 1994 and 2001 In January 2007 David launched Keystone Buy to Let Mortgages in a joint venture with the Wilky Group Keystone loaned some 200m of mortgages before withdrawing from the market in December 2008 At the Business Moneyfacts Awards 2009 David s work within the mortgage industry was recognised by a Lifetime Achievement Award presented to him by writer presenter and comedian Sandy Toksvig Never one to let the grass grow under his feet in April 2012 David re launched Keystone Buy to Let Mortgages with funding from challenger bank Aldermore Likes Cotswolds Whisky Dislikes Laziness Case Studies See all Case Studies Funding for development of two semi detached houses on large bungalow plot 24 07 2015 A developer turned to Mortgages for Business to find the necessary finance for a build on a large plot of land within Goring on Thames Funding for development of 9 starter homes 18 02 2015 A developer turned to Mortgages for Business to find the necessary finance for a residential development near Peterborough after his original lender withdrew support Raising 934k to build flats next to railway 28 01 2015 Despite most lenders concerns with funding a development in such close proximity to a railway line we were able to raise the required finance 1 9m loan to convert Thames warehouse into luxury apartments 12 11 2014 Finding 1 9m to convert an old Thames warehouse into luxury riverside apartments was proving difficult for a private property

    Original URL path: http://mortgagesforbusiness.co.uk/about/meet-the-team/senior-management-team/david-whittaker/ (2016-02-16)
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