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Patron News

MFS issues over £30m in loans during lockdown

Market Financial Solutions (MFS) has deployed over £30 million worth of bridging loans during the COVID-19 lockdown so far.

MFS arranged these bridging loans between 23 rd March and 30 th June, including both residential and commercial bridging finance.

With access to in-house credit lines and a team of experienced underwriters, the NACFB Patron has remained open for business throughout the lockdown. The loans deployed reflect its commitment to supporting growing demand for specialist finance, which has gathered pace in recent months.

Paresh Raja, CEO of MFS, said: “We have experienced a notable increase in enquiries from brokers in need of bridging loans for their clients during lockdown. Not only are brokers requesting loans that can be tailored to meet the complex needs of their clients, they are also after loans that can be deployed quickly to ensure deadlines are met and transactions are completed.

“That’s why with lockdown measures easing, I am confident the energetic demand for specialist finance will remain high. As highlighted by the value and volume of loans we have completed so far, bridging lenders like MFS will continue to play an integral role supporting property transactions in the UK.”

Hope Capital records huge June spike in enquiries

Hope Capital has recorded a stronger June performance than for the same month last year, fuelling growing optimism that the market is bouncing back strongly from the coronavirus freeze.

Although many restrictions remained in place, the NACFB Patron received a 189% leap in enquiries from the previous June’s figures. This includes an increase in enquiries from brokers the firm has not previously worked with. The number of formal loan offers also increased by 20% compared to June 2019.

At the same time, Hope Capital has delivered even faster response times, with application and underwriting three times faster than in the first quarter of 2020. Over the first six months of 2020, the firm has seen a 14% increase in loans accepted by underwriting and a 31% increase in loans accepted by clients.

Jonathan Sealey, CEO of Hope Capital, commented: “These figures are evidence that demand for short-term finance is strong, and growing. With lockdown easing, there is a pent-up demand for borrowing as projects that were put on hold in spring are put back in motion.

“The strong demand we have seen also reflects the range of products we have made available to meet borrowers’ diverse needs in the post-lockdown world.”

Patron News

Shawbrook Bank launches broker podcast series

Shawbrook have launched a new podcast series, titled ‘A Conversation with Shawbrook’. The podcast will provide a platform for the broker community to share their voice and their experiences of conducting business in the current climate.

In the first episode, Phil Gray, managing director of Watts Commercial Finance – and NACFB Board Director – joins Emma Cox to discuss how the Watts family navigated the coronavirus crisis: the property market restrictions, the challenge of moving to a remote environment, and the main issues facing the broker and investor community as the focus shifts to the UK’s recovery.

Emma Cox, sales director of property finance at Shawbrook Bank comments: “Over the last few months we’ve spent a lot of time thinking about how we adjust to support our friends and colleagues in the broker community.

“This podcast is about creating a forum to connect with brokers and hear their views on the market, the challenges they face, and the lessons learned as focus turns to how we emerge through these unique times stronger for it. Partnerships are such a big part of our business and it was a pleasure to catch up with Phil and get his perspective on the future, as restrictions ease.”

Aldermore unveils senior commercial appointments

Aldermore has announced two senior hires with the appointment of Iain Bryson as its new head of development and specialist property within its commercial real estate team, and Lee Rhodes as the commercial director for asset.

Iain has over 35 years’ experience in the commercial sector. In his new role, Iain will help strengthen the NACFB Patron’s specialist real estate offering across sectors including hotels, healthcare, and student accommodation. He joins from Europe Arab Bank, where he was head of real estate finance. Prior to working at Europe Arab Bank, Iain held roles at Santander, Deutsche Bank and Bank of Scotland, where he worked for over 20 years.

Lee is promoted to the position commercial director for asset following Patrick Jelly’s decision to leave Aldermore. The NACFB Patron took the decision to combine his current role (commercial director, asset finance sales) with the commercial director wholesale finance role – creating a new position.

Lee has been with Aldermore for over six years, he has an extensive background in asset finance and in recent years has grown their wholesale business from scratch. Patrick Jelly will leave Aldermore in September for a new opportunity.