Fiduciam has confirmed that it provided a £25m committed portfolio acquisition facility to a property investor in December. The facility supports the investor’s property acquisition plans for the first half of 2023, which involve the creation of a large new cross border portfolio. Over the five-year facility term, the bridging lender stated that property acquisition loans can be provided at up to 70% loan-to-value at interest rates from 0.73%, depending on property location and the level of the one-year swap rate. The extended term of the facility offers the investor “maximum flexibility”, Fiduciam added, to both optimise and spread the timing of their acquisitions and allows sufficient time to achieve an exit.

Specialist lender, Spring Finance, has appointed Shelley Connelly as director of mortgages. Connelly will join Spring on 1 February and take responsibility for the operations and strategic growth of the mortgages team. Her role will include oversight of the secured loans team, as well as the launch of a series of new mortgage products throughout 2023. Shelley joins Spring from Masthaven Bank where she led the Mortgage division as Director of Lending and Credit Operations. She will now form part of the senior leadership team at Spring and report into the specialist lender’s CEO, Gavin Diamond.

LiveMore Capital has announced it is re-introducing fee-assisted mortgage products. The lender’s offering includes a free standard valuation and has no product fee. LiveMore has also dropped the minimum age for its retirement interest-only (RIO) products from 55 down to 50, allowing a new cohort of people to have access to its full product range. This move means that all of LiveMore’s mortgages can now be accessed by customers at age 50.

Mortgage Broker Tools (MBT) has announced the launch of a new predictive mortgage modelling tool, MBT Sandbox. The firm stated that the tool aims to help lenders make smarter product, pricing, criteria and affordability decisions by using advanced analytics utilising real-time data. MBT Sandbox uses a structured analytic approach to predict outcomes, based on multiple factors that impact choice when it comes to selecting a mortgage. It has been designed to accurately predict application volumes, measure the impact of changes to rates, fees and incentives, and provide comparison to competitor products.

Accord Mortgages has announced new changes to its residential mortgage range by adding new products and cutting rates by up to 0.36%. The lender this week introduced new products for clients with a 20% deposit, with options available for both house purchase and remortgage – some with no product fee. Accord has also reduced rates by up to 0.36% on new-build products at 90% LTV, with 0.24% also shaved off products at 95% LTV. Rates at the lower LTVs will be up to 0.15% lower.

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