Bridge Invest cuts rates, LendInvest hires BDMs – roundup

The Bridge Invest move follows a trend of falling rates in the market and the lender said it had already completed two deals at the new levels.

The new rates are available across all asset types including residential, mixed-use and commercial and allow borrowers to use loans primarily for property purchases, business purposes and refinance.

Bridge Invest business development manager (BDM) Will Matterson (pictured) said: “Following conversations with our brokers it was clear there has been a real shift in the market these past few months.

“As bridging has become more mainstream, borrowers are becoming more rate sensitive.

“Our new rates allow us to remain competitive within the ever-growing market but without needing to sacrifice any of our key principals,” he added.

The lender will consider a gross loan to value (LTV) at up to 70 per cent, minimum loan sizes of £100,000, and a maximum loan size of £5m although exceptions will be considered on a case-by-case basis.

LendInvest

LendInvest has hired two BDMs to its field-based team and promoted another to an office BDM role.

Nigel Robbins and Abby Challen have joined the lender as BDMs with responsibility for the South West, and Central and Greater London respectively.

Robbins was previously at Magellan where he was a regional sales manager.

Over the last 16 years, his roles have included regional sales manager for Precise, a BDM for Kensington Mortgages and head of sales for Mortgages PLC.

Challen joins from Enterprise Finance where she worked as a senior BDM, and she also has experience as both a broker and packager.

And Paige Archer, has been promoted internally to become an office-based BDM, increasing the internal support available to brokers through the sales desk.

LendInvest sales director Ian Boden said it had already been a busy year for the business.

“Field-based BDMs are a huge support to our lean in-house sales desk,” he said.

“We are delighted to announce these key hires who bring a broad range of experience to the team.”