London Credit has reduced rates on its key loan products. In line with these cuts, residential bridging loans starting from 0.75%, semi-commercial loans starting from 0.80% and commercial loans starting from 0.95%. The updates are designed to offer financing solutions for borrowers who require short-term funding to meet immediate needs or to take advantage of property opportunities.

NatWest has increased the limit on how much businesses can borrow through its broker direct service, up from £500,000 to £750,000. This follows the bank’s move in August to double the limit from £250,000 to £500,000. The lowest limit of borrowing through the service will remain at £50,000. Broker Direct is a dedicated service for SME brokers, and since its launch in June 2023, the time taken from information being received to a credit backed decision has reduced by 41%.

Recognise Bank has announced that its chairman, Phil Jenks, has stepped down from the role, while its chief executive officer (CEO), Jean Murphy, will be stepping down at the end of the year. The bank has appointed Steve Pateman as chair and Simon Bateman as CEO, subject to regulatory approval. Bateman joins Recognise from Nomo Fintech, where he served as CEO for the past 18 months, bringing over 30 years of experience in the financial services industry.

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