Mortgage Brain has announced that the number of lenders on its criteria-based sourcing solution, Criteria Brain, has reached a new high of 88 lenders. The mortgage technology expert reported a “substantial increase” both in the total of lenders on the platform as well as the number of intermediaries who have used Criteria Brain over the past 12 months. New lenders to join Criteria Brain in the last couple of months include Shawbrook Bank, CHL Mortgages and Generation Home.

National debt investor, Frontier Development Capital, has revealed it approved £98.7m of investment for businesses across the UK in 2021. A record year for the firm, which supports mid-market SME businesses and property developers across the country with debt funding between £1m and £20m, saw it approve 31 deals over the 12 months. The total investment was more than three times the funding it approved in 2020, with the firm’s CEO, Sue Summers, stating that 2021 had seen a “renewed energy and impetus from businesses seeking finance”.

Fleet Mortgages has announced that it has cut rates across all its lifetime tracker products. These changes apply to the specialist lender’s three core ranges – standard, limited company and LLP, as well as HMO and multi-unit freehold block (MUFB). For the lender’s standard and limited company offerings, a 65% LTV is now available at 3.39% while a 75% LTV is priced at 3.49%. For Fleet’s HMO and MUFB offering, the lender confirmed that 65% LTV is now priced at 3.69% while 75% LTV will now be priced at 3.79%.

Luxury asset lender, Suros Capital, has launched a new partnership with SME finance specialist, Funding Bay, as it continues to develop partnerships in the intermediary sector. Funding Bay has helped businesses across the UK raise over £100m in funding since 2017. Business development director at Suros, Charles Hodge, said that Funding Bay had “recognised the value” that Suros can bring with the ability to borrow against luxury assets, while Funding Bay Director, Joseph Babalola, added that Suros could “significantly broaden” the firm’s ability to provide short-term lending solutions for SME owners.

Pepper Money has launched a new range of lifetime tracker mortgages with no completion fee and rates starting at 2.67%. The mortgages are available from the lender’s Pepper 36 Light to Pepper 60 range. The Pepper 36 Light range is suitable for customers that haven’t had a default in the last three years and have never had a CCJ. Pepper Money sales director, Paul Adams, said that tracker rates have “retained popularity” as they can provide a more cost effective option than a fixed rate in a rising rate environment.

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