You are here: Home - News -

Cambridge and Counties property lending soars 41%

by:
  • 22/03/2017
  • 0
Cambridge and Counties property lending soars 41%
A focus on professional property investment and steering clear of "amateur buy to let" saw Cambridge & Counties increase its property lending by £167m in 2016, the bank has announced.

Commercial director Simon Lindley said focusing on the professional and corporate property investment sector, and avoiding the “high risk second mortgage, development and amateur buy-to-let markets” is behind the lender’s successful year in which lending to property investors jumped by 41%.

He added: “In terms of what we are seeing in the market, the continued redevelopment of office accommodation under Permitted Development Rights continues apace, and action taken by the government and the Bank of England saw transactions in the buy-to-let market tail off considerably towards the latter half of 2016.

“Uncertainty following the Brexit vote saw a number of larger property deals stall, but take up eventually happened, and the general UK property business continues to show a measure of resilience in the face relatively unattractive returns from other asset classes.”

Cambridge & Counties Bank recently reported record annual growth in deposits, lending and customer acquisition for the year ending 31 December 2016, with its balance sheet growing from £518m to £746m and its loan book growing from £416m to £588m.

 

There are 0 Comment(s)

You may also be interested in

Bridging

Keep up-to-date with all the breaking bridging and short-term lending news and analysis, from regulatory changes to product innovation and inside market knowledge. Take a look at our broker and lender case studies showing short-term finance in practice.

Commercial

Find all the news, opinion and analysis for property finance brokers specialising in commercial and semi-commercial mortgages, alternative and development finance for commercial investments in residential projects.

Second charge

Stay up-to-date with the latest news, analysis and opinion on the secured loan market as it evolves into a mainstream finance option following European regulation on 21 March 2016.

Complex buy-to-let

Whether it’s a complicated asset or a complex customer, you’ll find out all the breaking buy-to-let news in this section. From limited companies to portfolio landlords, student lets to a House in Multiple Occupation, we’ve got all bases covered with our up-to-the-minute news, analysis and opinion.

Mortgage Solutions

Find all the breaking news, analysis and industry comment on Specialist Lending Solutions' sister site, Mortgage Solutions
Read previous post:
2386795-cloud-thumb-like-up-twitter
Lending into niches: ‘The market needs this right now’ – Marketwatch

There has been a flurry of activity from lenders beyond the usual product rate cuts, with a particular theme being...

Close