Portfolio buy to let landlords and the PRA changes

The Prudential Regulation Authority (PRA) has made changes to the way in which buy to let mortgage applications are underwritten for professional portfolio landlords. These changes came into force on the 30th September 2017 and have now been implemented by all bank lenders. Here’s a summary of how they’ll affect Buy-to-Let mortgage applications: According to

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Allsop auction finance – bridging finance for auctions

Vision Finance has recently structured a complex bridging loan for a property developer who purchased a large commercial property in a recent Allsop commercial auction. At Vision Finance we work with property developers and property investors who regularly acquire properties at auctions and require auction finance. Given the completion period is typically 28 days, traditional

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Office to Residential Permitted Development Rights Extended Permanently

Permitted development rights, which were due to expire in May 2016, will now be made permanent. They will also be expanded to allow offices to be demolished, not just converted, and extended to light industrial and launderettes for new homes. Permitted Development Rights have now been extended indefinitely in a move that’s been welcomed by

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Shawbrook bridging finance increase LTV to 75% for residential loans

Shawbrook have announced they are now offering 75% LTV on residential bridging finance. This is great news for borrowers! Shawbrook have long been the cheapest provider of bridging finance, offering borrowers the lowest bridging loan rates. However, until now, they only offered loans up to 70% LTV. As well as this increase in loan to

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Bridging loan on land

Vision Finance have arranged several bridging loans on land over recent months, so we thought it would be useful to share our experiences. We work with property developers up and down the country, and while full property development finance remains our core strength, many of our clients have requirements for short term finance, and this

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Precise bridging finance launch bridging loans with 0% arrangement fee

Precise Mortgages, the intermediary only bridging loan lender, has increases the range of products within its bridging loans. If you are buying a property in need of renovation and want to sell or refinance it shortly after completion this new range of 0% facility fee bridging loans could be a good cost effective answer. Key

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Association of Short Term Lenders show bridging finance applications up 97pc

Bridging application values increased by 97% from the fourth quarter of 2013 to the fourth quarter of 2014, figures from the Association of Short Term Lenders have revealed. In the whole of 2014 the value of bridging loans increased by 62.5% from the year before, with ASTL members’ writing £2.27bn worth of loans. Benson Hersch,

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Bridging loans exceed GBP 2 billion this year

The figures from the Association of Short Term Lenders for Q3 2014 have shown record levels of bridging finance, and loans written by members of the ASTL in the year ended September 2014 have now exceeded £2 billion. The ASTL’s latest quarterly figures on the size of the bridging market reveals that in Q3 this

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Bridging Finance sees annual growth of 25 per cent

Growth of 25% in the bridging finance industry has been achieved in the past 12 months, according to the latest Bridging Index. Since June last year the annual rate of growth in gross bridging lending has averaged 25.1 per cent. By contrast, growth in the previous period was faster, but more volatile. Gross annual bridging

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Dragonfly Property Finance raises GBP130m for commercial property fund

Octopus Investments has raised £130m for the Commercial Real Estate Debt Fund. The fund will be managed by Dragonfly Property Finance. Dragonfly, launched just five years ago, has already lent in excess of GBP1 billion. The GBP130 million fund will provide Dragonfly with considerable financial firepower as it continues to lend to commercial property investors.

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