This is going to be the first in a regular round up of the latest bridging loan, development finance and commercial mortgage news, as reported in the trade press.
This short term lending update is for Week Commencing 31st July 2017.
We start off with a story in Development Finance Today which talks about the largest ever private rental development in the United Kingdom is to receive £65m in funding from the Government. Full story here.
Paradigm Mortgage Services has produced a factsheet detailing the upcoming changes that Buy to Let lenders must incorporate for portfolio landlords.
All changes must be brought into play by the 30th September 2017 and these changes are likely to lead to a huge influx of new bridging enquiries as landlords look for a simpler solution. Full story in Specialist Finance Introducer.
Interesting story in the Bridging Loan Directory about Octopus Property (formerly Dragonfly) who have introduced yet another new product that they believe is the first of its kind.
Game changer might be too strong a phrase but it will certainly make the other bridging lenders it up and take notice and it allows property developers to have certain of exit.
Those of you who know Liverpool will be well aware of the old Copperas Hill Police Station site. Plans have been mooted for years about developing the site but finally, Student Inn Ltd have has agreement to build 111 self contained studios and 11 cluster apartments.
Similar stories on local property developments can be found in Your Move Magazine.
The development of St.Peters Square in Manchester continues apace with yet another announcement of a new 320 storey hotel. There will be 300 rooms up to the 8th floor and above that, a 262 bed apart-hotel.
And finally, the Liverpool Echo has a feature on Wirral’s most expensive streets to buy a house. Typically, Caldy features as you would expect but even New Brighton makes the list which is an endorsement of the continued development and regeneration of that area.
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