StrideUp has reduced rates on its two- and five-year fixed rates by 80 bps and 55 bps respectively. Rates now start at 6.69% for the two-year fix and 7.24% for the five-year product. The lender has also made a range of changes to its residential proposition, with more of a focus on foreign nationals, those seeking support from family and friends, self-employed applicants and contractors. StrideUp now accepts foreign nationals without permanent rights to reside up to 85% LTV as long as they have one year left of their visa, in a bid to support those who work in the NHS and other key services. The lender also now uses the most recent year’s income for self-employed customers, helping to maximise affordability for aspirational homeowners with growing incomes, lifting the cap on its maximum property value, which now stands at £1m at up to 80% LTV.

United Trust Bank (UTB) and Iron Bridge Finance are supporting the redevelopment of a pair of semi-detached Victorian villas in Swiss Cottage, London. The development is being undertaken by Northwest3, which is a joint venture Prospect Property, OnPlan and Point6 Developments. The villas were converted into 19 flats many years ago but have been let for several decades and are now dated. The developers plan to create 16 new apartment to suit modern day living, and it is expected to increase the value of the project from £8.5m to a GDV of over £15m. UTB has provided a senior facility of £9.125m, representing 75% of the acquisition and refurbishment costs, with Iron Bridge providing an additional £1m of mezzanine finance and the balance of funds required is being injected by the joint venture partners.

Aspen Bridging has appointed Rory Cleary as its new head of sales. Starting with immediate effect, Cleary will be responsible for evolving the lender’s relationships with brokers and networks throughout England and Wales as the company continues to target 30% plus year-on-year He joins from MT Finance, where he served as senior business development manager between 2020 and 2022. He also served as business development manager for the London area at Precise Mortgages between 2016 and 2020.

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