15/09/2023
The firm has developed a new strategic finance proposition which will see them targeting larger businesses looking for bespoke funding solutions.
The firm is targeting larger businesses looking for bespoke funding solutions.
Commercial Reporter
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Commercial Reporter provides industry-relevant news to the financial services industry. 01253 272998 - [email protected]
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Launched in 2013, Commercial Reporter is an online news service for the UK commercial finance industry. We reach over 4,600 industry individuals every day through our website and daily newsletters. Commercial Reporter offers news coverage for commercial financial professionals across the United Kingdom. Our readers are a mixture of brokers, financial advisers, lenders and other financial intermedi
aries from across all sectors of the financial services industry including; commercial mortgages, buy to let, bridging finance, business loans, invoice finance, development finance, hire purchase & leasing and asset finance. It is our job to present the facts and allow the readers who use Commercial Reporter to make their own decisions - and alongside that, submit comment or their own articles in response. It is through this practice that Commercial Reporter has become one of the fastest growing websites for our industry. Our news stories are drawn from a variety of sources; written in house, press releases, interviews, submitted comments, internal research and submitted blogs. As well as covering commercial financial news and comment, Commercial Reporter is also home to expert bloggers from across the industry, all of which provide unique news content for their specialist area. These include key decision makers for UK brokers, lenders and insurers.
15/09/2023
New lending via asset financing has increased by 9.7% annually, totalling £31bn, with the service and construction industries driving this growth to the greatest extent.
Businesses are turning to asset financing in tough times, with a 9.7% annual increase in new lending.
13/09/2023
TAB has today launched its first commercial mortgage product. The new product prioritises sustainability and has built-in strong ESG criteria to reward those who make improvements with an exit discount.
Borrowers can earn discounts of up to half the exit fee by meeting ESG criteria.
11/09/2023
New SME lender, Alba Bank, has appointed Robert Sharpe and Andrew Lewis to the key roles of chair of the board and chief risk officer as it gears up for launch.
Earlier this year, Alba was granted its banking licence by the PRA and FCA, allowing it to move into mobilisation.
06/09/2023
YBS Commercial Mortgages is reducing the rate on its semi-commercial products, designed specifically for part-residential, part-commercial assets which are rented out as investments.
Pricing on all other products has been maintained amid market volatility.
04/09/2023
The think tank said debt taken on during the pandemic, higher borrowing costs and the cost of living crisis would drive an increasing number of businesses under, particularly in the retail and hospitality sectors. https://bit.ly/45CW9OU
Around 7,000 UK businesses are likely to shut down every quarter in 2024 as high interest rates cause financial strain and the UK economy enters recession, according to a new report from The Centre for Economics and Business Research (Cebr).
04/09/2023
In written evidence submitted to the Treasury Select Committee, the BCC said many smaller firms are no longer seeking finance as they consider it too limited and costly. https://bit.ly/44InVrX
The British Chambers of Commerce (BCC) has called for action to improve the availability of finance for SMEs as accessibility, awareness and a lack of competition continue to hold firms back.
31/08/2023
The product offers a loan term of up to 24 months, with the option to extend for a further year, and also mitigates the need for a stress test, typically required by buy-to-let products.
The product offers the flexibility of a bridge with the certainty of a longer term.
30/08/2023
Despite the expected increase in applications, brokers do not anticipate that the SME lending market will recover to pre-pandemic levels.
High street banks continue to cut lending to SMEs, despite demand increasing.
30/08/2023
The expansion allows Atom Bank broadened access to new areas of the UK market through a key distribution partner with an origination team covering the whole nation.
Assetz Capital has become a key introducer of commercial mortgage loan applications to Atom Bank as part of a new collaboration.
24/08/2023
Funds raised from the facility will enable Cambridge & Counties Bank to increase its volume of lending to smaller businesses over and above levels it might have otherwise been able to provide.
British Business Investments has announced a new £20m Tier 2 capital facility for Cambridge & Counties Bank.
22/08/2023
In the capital, 64% of SMEs are turning to technology investments to increase productivity, compared to 45% UK-wide, and 43% are doing so to future-proof their company.
In the capital, 64% of SMEs are turning to technology investments to increase productivity.
21/08/2023
Cynergy Bank has secured a £20 million Tier 2 capital facility from British Business Investments.
The new funding will enable the bank to accelerate its lending in the SME space.
21/08/2023
Avamore Capital has expanded its lending appetite and will now support transactions in the student accommodation sector across the UK.
The decision to lend into the sector marks Avamore’s first move outside of its core target market, UK residential property.
16/08/2023
The UK’s commercial construction market is forecast to grow by 2.8% by the end of 2023, reaching total market revenue of £19.21 billion for the year.
Many commercial developers are looking to revamp rather than build new in order to keep costs down in the face of uncertain market conditions.
14/08/2023
One Stop Business Finance has continued its partnership with Shawbrook through a new increased facility.
Shawbrook is now the firm’s largest funding partner.
08/08/2023
The snapshot of all current commercial market conditions reveals that there are roughly 9,000 units for sale across in England.
The research shows the best opportunities to climb the commercial ladder for each specific sector.
08/08/2023
The new two-year fixed rate starts at 6.69% for complex buy-to-let and 7.24% for commercial.
Shawbrook has improved stress tests for shorter term fixed rates and made changes to its ERCs.
04/08/2023
YBS Commercial Mortgages has appointed Hoson Chung as a relationship director for its Midlands team.
Hoson will cover Birmingham and the wider Midlands region.
03/08/2023
Time Finance has appointed Morgan Lee as a broker manager in its asset finance team, overseeing the North West and Midlands regions.
Morgan will cover the North West and Midlands regions.
02/08/2023
Atom Bank has launched broker-instructed valuations and made key improvements to its commercial mortgage underwriting process. https://bit.ly/3KmM28t
Atom has introduced broker-instructed valuations to allow more certainty on lending decisions for brokers.
28/07/2023
InterBay has launched Select Partners - a new partner proposition which offers exclusive access to its enhanced bridging range, improved criteria and expedited service.
The bridging range includes semi-commercial and commercial bridging with rates from 0.89%.
27/07/2023
Enterprise can be added to auction and agent sites, connecting the dots between finding development land and funding it, whilst enabling brokers to expand their reach.
Brickflow, the digital marketplace for specialist property finance, has launched Brickflow Enterprise - an embedded finance solution created specifically for commercial property finance brokers.
27/07/2023
A group of commercial finance brokers from the South East have warned against over-use of technology and automation by some commercial lenders, in a bid to get cases over the line quicker and drive improvements in the mortgage application process.
Brokers agreed that automation within lender processes might not be a 'silver bullet solution' when it comes to improvements for the commercial market.
27/07/2023
Asset finance brokerage, Approved Finance Group, has announced the launch of Approved Property Finance, its new division designed to support SMEs with their expansion plans and business growth opportunities.
Approved Property Finance will support businesses looking to expand existing premises or launch new sites.
27/07/2023
BLOG: The truth of ESG - Sabinder Robinson-Sandhu, Avamore Capital
Sabinder Robinson-Sandhu, director of operations at Avamore Capital, explains why there's a lot to be gained for those doing ESG right.
26/07/2023
Over four out of five (85%) firms had said that costs had risen since the same time last year amid rising rates and soaring inflation.
Almost a third of firms who applied for finance in Q2 were offered a rate of 11% or more.
25/07/2023
SPECIAL FEATURE: Rising insolvency levels create renewed cause for businesses to consider their credit policy - Adrian Taylor, Paragon Bank
Adrian Taylor, head of invoice finance at Paragon, says that with the evolving economic landscape, SMEs need to be increasingly mindful of the potentially damaging threat of bad debts as a result of customer insolvencies.
24/07/2023
OSB Group has promoted Charlotte Parker to specialist finance account manager for the south of England at commercial and buy-to-let lender InterBay.
Charlotte was previously a dual-branded BDM at Kent Reliance for Intermediaries and Precise Mortgages.
20/07/2023
Kuflink Group has entered into a £35 million institutional debt facility placed by European Risk Capital with Paragon Bank.
The revolving credit facility provides Kuflink with strategic access to institutional capital and funding optionality.
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