In Reference Appointments & Updates Appointments & Updates
Financial Services, where he was UK Risk Director, having previously held roles at the Bank of Scotland and Volkswagen Financial Services. Making up PIF’s growing team, and with
more than 85 years’ combined experience in commercial finance, are newly appointed sales director Carl Finlayson, who was previously head of business development at Aldermore Bank in the North West, and Lorraine Udale, who joins as operations director after 10 years at Bibby Invoice Discounting. Ray Lowrey, managing director of
Praetura Invoice Finance, said: “SMEs are the backbone of the UK’s future economic growth and their success, which is important post-pandemic, often depends on accessing flexible commercial funding that works for them. “Invoice finance is the latest example of
dedicated support from Praetura Group, which has been helping SMEs across the UK through a difficult period for businesses. “I am delighted that PIF will further
strengthen the firm’s reputation for going above and beyond with a ‘more than money’ approach that puts SME business owners first.”
Together has made its lowest ever fixed-rate mortgages available to customers seeking finance for shared ownership and Right-to-Buy properties. The lender has today extended its Prime Plus range to
cover shared ownership and Right-to-Buy (RTB), with rates starting at 3.59% for two-year, and 4.99% for five-year fixes. Together has cut the lowest rates on its second charge
two-year fixed mortgages from 4.29% to 3.99% for capital repayment and from 4.79% to 4.49% on interest only. It has also introduced a new two-year fixed rate for its first
Sundeep Patel
and second charge Consumer Buy-to-Let (CBTL) products, with rates starting at 5.69% and 6.19% respectively. Landlords and property investors can also benefit from Together’s new two
and five-year fixed rate Buy-to-Let (BTL) products, which have been introduced across its standard and specialist ranges. They come with Together’s lowest ever BTL fixed rates of 5.19% (two year) and 5.49% (five year). Sundeep Patel, director of sales, said: “We are committed to offering our
customers the right mortgage deals to meet their ambitions. Whether that is getting their first foothold on the property ladder through shared ownership, buying the council house they have lived in for years, or expanding their rental portfolio, we believe that we have the competitive products they are looking for, even if they have previously been overlooked by mainstream lenders. “We think it is vitally important to provide support for the many borrowers
whose financial circumstances may have been affected by Covid-19 while, at the same time, offering the certainty and security provided by fixed-rate products.”
One Mortgage System (OMS), the seamless single-input enquiry to completion process-
Fleet Mortgages, the buy-to-let specialist lender, has today announced the acquisition of the business by Starling Bank in a £50m cash and share deal. This is the first acquisition by the bank and means Starling will become the sole funder of future originations for Fleet Mortgages, allowing Fleet to build on its already successful lending operation by securing access to Starling’s growing deposit base. Fleet Mortgages has, to date, originated £2.3bn of
mortgages and experienced zero credit losses. It currently has circa-£1.75bn of mortgages under management. Day-to-day operations at Fleet continue unchanged with the company’s existing
Anne Boden
and highly-respected management team still in charge of the lender. Anne Boden, CEO of Starling Bank, said: “The acquisition of Fleet Mortgages
is the start of our move into mortgages as an asset class and builds on a number of forward-flow arrangements that we are doing with leading non-bank lenders. “Fleet’s existing management team will remain in place and Fleet will
continue to operate as a stand-alone company, keeping the original name and brand. We’re buying Fleet because it is very good at what it does, not because we want to change it.”
August 2021
www.CCRMagazine.com
ing platform for brokers, has completed a full integration with lender Selina Finance. The integration will see OMS users benefit from a two-way Decision in Principle (DIP) facility. Selina Finance offers pre-approved credit
facilities from £25,000 to £1m where borrowers can draw and repay funds whenever they choose, without incurring additional fees or penalties and only paying interest on the amount that is outstanding. Neal Jannels, Managing Director of
OMS, said: “Selina Finance is one of the most exciting digital lenders operating in the intermediary marketplace and with such a flexible and transparent approach to finance, I am sure it will prove an interesting and unique proposition for our growing userbase. There are many synergies between our respective businesses and we are looking forward to working closely and learning from such a forward- thinking, technology driven lender.” >>
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