Mortimer Street Capital has arranged a £4.1m development exit bridging facility for a client who has recently built a 22-unit scheme in a gated development in Surrey. The client wished to refinance the existing development finance facility following the scheme reaching practical completion with new build warranties in place. They were keen to reduce their rate of interest, plus gain an extra 12 months to sell the eight flats and 14 houses. Mortimer Street Capital arranged the new facility with Funding 365 at an LTV of 64% with an interest rate of 0.77% per month.

One Mortgage System (OMS) has expanded its portfolio by launching OMS Originations. The new loan origination platform is specifically aimed at banks, building societies and specialist lenders. The firm has previously worked with a number of specialist lenders to provide customised solutions to disrupt the current lender origination offerings being provided in the UK specialist lending marketplace. This includes first and second charge residential, and buy-to-let products, as well as bridging lending options.

Beth Hillman has been appointed to the newly created role of business development manager for central London at Suffolk Building Society. As part of the role, she will be responsible for developing new and existing relationships with intermediaries. The new role will also see Hillman support brokers in central London. Firms that are identified as key accounts will continue to be managed by Suffolk’s key account manager, Andrew Sadler. Hillam joins the building society with a wealth of experience in the financial services sector, having spent the last seven years in the mortgage industry, primarily as a mortgage and protection adviser.

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