Banks’ small business lending to be monitored

Business Secretary Peter Mandelson has announced the creation of a new panel to monitor how banks are lending to small businesses.
The five major high street banks reached an agreement with the government to provide data on the availability, risk and overall cost of lending to small and medium sized businesses at the first meeting of [...]

ICE Commercial unveils funding line

ICE Commercial has launched its own funding line to provide SMEs with short to medium term business loans.
The commercial mortgage packager and debt management consultant says the move offers a “real alternative” to the current propositions in the marketplace.
ICE Commercial CEO’s Gary Starr said: “ICE has secured funds to assist our intermediaries and their clients. [...]

InterBay acquired by 5D

InterBay Commercial has been bought by the 5D Group. It will be merged with commercial mortgage lender 5D and re-launched under the InterBay Commercial name.
Colin Bell, CEO of InterBay Commercial, said: “It is with great delight that I am able to announce an exciting new chapter for InterBay Commercial in the UK. Since our launch [...]

Re-brand for Davenham

Asset-based lender Davenham Group plc has completed a major new branding exercise, which took six months to develop and followed consultations with existing and potential customers and staff.
The font for the Davenham logo has been updated and now includes three boxes to represent thought bubbles, together with a new strap line “positive thinking in business [...]

NACFB welcomes Base’s pipeline commitment

Chief executive of the NACFB, Adam Tyler, has reacted to the announcement from Base Commercial Finance that it will be temporarily withdrawing from the market.
He said: “It’s a real shame to hear that Base is having problems, but it’s also good to hear that they have decided to take early action which allows them to [...]

Business Lending sees benefit in NACFB days

Business Lending Ltd, the specialist commercial lender, has reported increased interest and response to its proposition at the recent National Association of Commercial Finance Brokers (NACFB) ‘Meet the Patrons’ event held in Solihull.
Business Lending was one of 37 NACFB patrons who were exhibiting at the event, which was attended by over 200 NACFB members.
Kevin Cooke, [...]

Base Commercial suspends lending

Base Commercial Mortgages has temporarily suspended all new business activities.
In an email to brokers, Mark Stephens, Base’s chief executive, said the move was as a result of difficulties that the lender had encountered renewing its ongoing credit facilities due to the continuing deterioration in the state of the capital markets.
He added that Base does have [...]

BDS adds new commercial lender to panel

BDS Commercial has added new market lender Business Finance UK Ltd (BFL) to their commercial lending panel.
The new lender offers an exclusive range of criteria and significant funds across status and self-cert. It also offers a helpline and full underwriting support for brokers using BDS Commercial.
Bob Hope, sales and marketing director BDS Mortgage Group, said: [...]

CHL Commercial actively seeking new business

Commercial lending specialist, CHL Commercial, has reasserted its commitment to the commercial mortgage market and stressed it is ‘actively seeking new business’.
CHL Commercial has made the statement in light of recent market developments with a number of commercial lenders leaving the market and a general tightening of criteria.
CHL offer a range of products suitable for [...]

Advisers overly optimistic about commercial property

Four out of ten financial advisers have an overly optimistic view of the UK commercial property market, according to Reita. Research by Reita also found 12% of financial advisers do not plan to take higher-level qualifications, despite the Retail Distribution Review (RDR) suggesting they will be necessary.
Reita’s survey of 241 UK IFAs found 40% expect [...]