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In Focus Appointments & Updates
Mortgage broker The Mortgage Brain (TMB) has announced a partnership with shared equity loan provider Proportunity to help borrowers with small deposits become home owners. The Gloucester-based fi rm, which was
founded in 2001 and has 60 advisers, arranges mortgages across the UK. It works closely with new build developers and property developers, and has dedicated teams specialising in mortgages for these sectors. TMB founder and CEO Enzo Mora said:
“It is a real pleasure for TMB to be working with Proportunity, which is opening up the possibilities of home ownership to a greater number of fi rst-time buyers. “Raising a deposit is an ongoing hurdle
for many potential homeowners, so fi nding solutions to increase this while also improving aff ordability is a real game-changer.”
The rapidly changing geopolitical landscape will fuel a re-emergence of supply chain pressures within the UK construction sector, reversing what has been a gradual improvement since Q3 2021 says RSM UK. This will further exacerbate pre-existing labour shortages, pricing and project delays.
Alice Altemaire, chief executive offi cer of RCI Bank UK, part of Renault’s Group captive bank, has been appointed as a non-executive director of United Trust Bank. She has worked within Renault Group for more than 15
years and was previously the chief fi nancial offi cer for RCI Bank UK when launched in 2015. As second in command she was instrumental in the successful launch of the new savings bank in the UK. She has an MBA from ESSEC Business school and a
Alice Altemaire
governance certifi cate from IFA Science Po. Harley Kagan, chief executive offi cer of United Trust Bank, said: “I am delighted that Alice has rejoined the Board of United Trust Bank as a non-executive director. She was a valued and highly respected member of the board during her previous two-year tenure and was greatly missed when she took up her new appointment as CEO of RCI Bank UK. “Alice will bring useful insight and knowledge to the board as we build the
business and seize opportunities as the economy recovers from Covid-19. We are fortunate to be able to call on a wide range of experience and skills amongst our directors and Alice is warmly welcomed back to the UTB boardroom.”
According to the latest PMI data by IHS
Markit and CIPS, February PMI business activity gained momentum across the UK construction sector. The headline seasonally adjusted Total Activity Index registered 59.1 in February, up from 56.3 in January to signal a robust and accelerated rise in output volumes.
Together has introduced a raft of changes to its buy-to-let products – including introducing its lowest ever rate – to help landlords looking to buy or refi nance. Rates on its fi rst charge BTL range have been lowered from 4.99% to 4.49% – the lender’s lowest ever – while maximum remortgage and second charge LTVs have been raised from 70% to 75%, in response to fast-growing demand for its fl exible products. Together announced its fi ve-year fi xed BTL mortgage rates
Business activity in the construction sector saw an uptick for the thirteenth consecutive month in February. All that is now set to change. Kelly Boorman, partner and national head
of Construction at RSM UK, said: “In the short-term output and demand has increased more than expected, but the longer term view is that while supply chain pressures have been gradually fading, this trend is set to reverse sharply. Whilst the UK has little to no exposure to basic building material imports from Russia or Ukraine, many businesses will nonetheless need to check and adjust to any downstream supply issues. “On the fl ipside, the construction pipeline
Sundeep Patel
have also been cut from 5.49% to 4.99% and two-year fi xed from 5.19% to 4.79%. Meanwhile, second charge BTL variable rates are now 5.99%, down from 6.99%, the joint lowest on the market. Sundeep Patel, director of sales at Together, said: “We are delighted to be able to
off er our lowest ever rates as part of a series of changes to our BTL products. “The BTL lending market has become increasingly competitive since the start
of the year with new entrants into this space and, in introducing these changes, we want to make sure that we’re off ering the right solutions for clients at the right rates. “At Together, we have spent a great deal of time getting invaluable feedback from our broker community so that we can simplify, improve and refi ne our award-winning products to make sure that intermediaries can provide their clients with the best outcomes. “Our product changes will allow them to achieve their ambitions, whether that
is buying their fi rst rental property, remortgaging to a more competitive deal, or expanding an existing portfolio.”
46
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remains strong with regards output, but supplier delivery times continue to present challenges. This, coupled with the pressures presented by volatile contract pricing and labour shortage, will contribute to an increasing number of projects stalling in 2022.”
Aldermore Group has delivered profi t before tax of £110.1m, up 91% on the prior year (31 December 2020: £57.6m). The group continues to deliver growth in lending, improved margins, and a lower cost of risk whilst investing for future growth. Steven Cooper, CEO of Aldermore Group said: “Despite ongoing macroeconomic uncertainty, I am pleased with our performance in the fi rst half of the year and the momentum on which we can build. In the last six months,
March 2022
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