Clever Lending has announced that it has recently helped a customer who needed to refinance a multi-unit freehold block (MUFB). The introducer has a long relationship with Clever Lending and their construction company client, which required the refinancing in order to consolidate its existing portfolio lending and intercompany loans. It also wanted to raise capital for onward investments to buy and renovate other properties. In this case, there were 21 properties under a single title. Commercial and bridging specialist at Clever Lending, Steve Sanderson discussed the case with Wes Baker and then placed the case with Hampshire Trust Bank. He knew the lender could deal with complex buy-to-let cases, including those involving MUFBs. The refinancing was at 63% LTV, with the £1.9m loan provided against a £3m valuation.

Recognise Bank has launched its new business easy access issue 2 account. The new savings account is designed for limited companies and LLPs, offering an interest rate of 3.55% AER. An account requires a minimum deposit of £85,001, meaning that at the rate set by Recognise Bank, a business owner could expect to earn over £3,000 in interest a year after the deposit was invested. Business owners can also benefit from total freedom and flexibility to make withdrawals and deposits whenever they need their funds.

Open Property Data Association (OPDA) has confirmed the completion of its executive committee, with Atom bank taking the final founder position. The collaboration of the member firms from across the property and mortgage industry embodies its shared commitment to advancing open data standards and enhancing market innovation. As the UK’s first trade association for open property data standards, OPDA and its members strive for transparency, interoperability and data-driven insights into the property sector. Atom bank is able to bring data driven and technological expertise to the association, and as a result of the completion, chief operating officer at Atom bank, Helen Wilson, has taken a seat on the panel, after joining the firm nearly a decade ago.

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