News in brief – 12 May 2023

Short-term lender and P2P platform, Kuflink, has announced that it has achieved B Corp certification. B Corp Certification is a designation that a firm is meeting high standards of verified performance, accountability, and transparency on factors from employee benefits and charitable giving to supply chain practices and input materials. The lender’s chief operating officer, Paul Auger, said that the certification has “established a foundation of a growing company that puts people and the planet at the forefront”.

Buy-to-let (BTL) specialist lender, Fleet Mortgages, has announced rate reductions across its two-year fixed rate products, as well as the launch of a new green seven-year fix. All two-year fixes within the lender’s standard, limited company and HMO/MUFB range have been reduced by 20 basis points. Fleet’s new green seven-year fixed-rate product, which covers properties with an Energy Performance Certificate (EPC) rating of C and above, comes with a rate of 4.99% at 75% LTV, for standard and limited company borrowers, and 5.09% for HMO/MUFB.

Aspen Bridging has completed a £1.75m bridging loan for a foreign national in 14 days. The client required immediate resolution to secure their £7.5m purchase of a 3,028 square foot, four-bedroom apartment in London. Underwriting was completed in a week thanks to Aspen’s no valuation bridge, a unique product which removes the need for physical inspection to speed up the loan process. The deal, written on Aspen’s flat rate of 0.89%, was taken by Aspen’s underwriting manager, Saif Khalique, and the lender confirmed that the exit on the 25% LTV deal will be realised via refinance onto a BTL mortgage.

Roma Finance has announced the creation of a new Roma leadership team. Following further business growth and the recent appointment of Michael Allison to commercial director, the lender said its new team has been formed to “frame and execute the business strategy”, with the prime focus being the partner and borrower journey. Senior leaders, including head of credit and risk, Lorraine Hart, and head of collections, Deborah Chaplain, have now been joined by business architect, Adam Bates, head of marketing and comms, Charlotte Rutter, as well as newly promoted sales operations manager, Lisa Toner, and customer services manager, Tina Parry.

Hanley Economic Building Society has added a fee-free 95% LTV five-year fixed rate into its residential product range. The product has a headline rate of 4.89% and is available up to 95% LTV. The lender revealed that it can be used for purchase and remortgage purposes on properties throughout England, Wales and Scotland, as well asScottish Islands by referral. Hanley Economic also said it includes a free valuation and has no application or arrangement fees, and comes with a minimum loan amount of £30,000 and maximum loan amount of £500,000.

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