Investors use bridging to finance bargain basement buys

Brokers have seen a 200% increase in demand for bridging finance in the last nine months as investors have been seeking bargains at auctions and through other distressed sales.
A number of smaller bridging firms have had to withdraw because of a lack of funding over the past year. However, unlike the mainstream market, the main [...]

Mayfair offers below market value bridging product

Mayfair Bridging has launched a new product called BMV Bridge.
It is designed for below market value (BMV) purchases and offers 100% of the purchase price within 65% LTV for investment residential property and 60% LTV for commercial property.
Director Shoaib Bux said: “BMV Bridge takes advantage of the discount received on a property purchase and offers [...]

Cheval makes redundancies

Bridging loan lender, Cheval has made a number of redundancies as it completes an internal restructure.
The lender has placed around eight staff into redundancy, leaving around 20 still working at the firm.
Alan Margolis, chief operating officer at Cheval, says: “It is just a revamping and tightening of the structure of the firm, the redundancies have [...]

Creative Mortgage Solutions added to Mayfair Bridging channel

Mayfair Bridging has added Chester-based Creative Mortgage Solutions to its packaged channel.
Director Yasin Patel said: “We are focused on the intermediary market and we pride ourselves with partnering with leading packagers. Brokers will benefit from Creative’s first class packaging services and extensive knowledge on bridging finance.
“Mayfair Bridging has achieved record levels of enquiries from brokers [...]

Credit extension boosts Bridgingloans.com

Bridgingloans.com has secured an extension to its lines of credit from some UK banks and financial institutions.
The bridging loan provider says that these additional funds will help it deal with the 50% increase in enquiries it has received for its short-term finance during Q2. All credit line extensions are from existing relationships with UK banks.
Ryneveld [...]

Tiuta offers 100% loans for undervalued properties

Bridging loan provider Tiuta has unveilead a new product called Underbridge. The product will finance 100% loans on properties that have been undervalued by as much as 40% compared to their open market value.
Typically designed for properties bought at auctions, repossessed properties or distressed sales from property clubs or second homeowners, the 100% offer is [...]

WLM Money Launched! 360degree packaging

WLM Money provide a cross sector financial packaging service, giving introducers more options for their clients having access to a wide variety of products including: Secured Loans, Bridging Finance, Commercial Loans, IVA Debt Management and Equity Release.
Darryl Dhoffer, Commercial Director, said: “In an even tighter market it is becoming increasingly difficult to raise finance for [...]

Secured Solutions adds GB Finance to panel

Secured Solutions has added GB Finance Group plc to its panel of bridging providers.
Brokers will now be able to get access GB’s product range via Secured Solutions, which has trained consultants on-hand to help with any enquiries or applications.
Neil Taverner, managing director of the Southend-based specialist master broker, said: “Secured Solutions has long held the [...]

Tiuta to hold bridging seminar

Bridging loan company Tiuta is to host another training seminar at its head office in London on 14 July.
The seminar is designed to help brokers better understand the detailed mechanics of bridging finance. The session will also provide brokers with information about how best to use bridging loans as a funding option, as well as [...]

Secured Solutions launches website

Southend-based second charge master broker Secured Solutions has launched a new website at www.secured-solutions.co.uk
Intermediaries can use the site to find out about the services on offer from Secured Solutions, including bridging finance, debt management, and commercial mortgages, in addition to a range of second charge loans.
Brokers can also submit enquiries online or request a call [...]