Quadrin are a valued partner to many Investment Banking and Private Equity clients when they are investing and lending into the bridging sector, with the broadest network of relationships in the market. Our Head of Business Development, Gus Pastras, spoke to Bridging Loan Directory about what makes the sector unique, and how Quadrin are at the…
BNPL lender Zilch has started reporting its 3 million customers’ borrowing data to UK credit bureaus, in a way that will impact credit scores of up to 3 million customers. Until now Zilch has had partnerships with individual credit bureaus like Experian, but has only used this data as part of its affordability assessments to perform “soft” credit checks…
The Financial Conduct Authority is introducing greater protections for retail clients by introducing a new consumer duty principle, aimed for firms providing and advising on products and services. In turn, this will increase the responsibility of firms to ensure consumers are provided with the products and services that are best fit for purpose and represent fair value. Firms are…
An independent strategic review of UK financial technology (FinTech) has been published in line with the emerging prominence of this sector and the UK’s highly regarded fintech reputation. Also known as ‘The Kalifa Review’, its purpose is to aid the adoption and growth of Fintech in the UK. The review illustrates a strategy and delivery…
British expats living in the EU have faced a block on borrowing from some British lenders following the UK’s exit from the European Union. Lenders including Newbury and Marsden Building Societies have adopted the policy however have signalled that the restrictions may only be temporary measures, depending on ongoing negotiations between the UK and EU. …
A leading analyst has warned that negative interest rates could cost Britain’s ‘big five’ banks £1 billion a year in lost profits. A cut in interest rates to -0.15% would knock up to 11% off the leading banks annual profits, even if they implement offsetting measures like those used within a eurozone. The warning comes…
Freelance borrowers face being effectively ‘locked out’ of the mortgage market by lending restrictions which would force them to raise a £100,000 deposit. Major lenders have started cracking down on freelancers as part of their own risk-aversion strategies. Santander have blocked mortgage applications from freelancers unless they have a deposit of at least 40%. The…
Subprime lender Amigo has announced that they will not be offering new loans until at least next year as they deal with an avalanche of customer complaints. The lender had originally paused lending after the Coronavirus crisis and has been struggling to deal with the volume of complaints they’ve been receiving. Amigo received 25,571 complaints…
Personal finance service provider Permanent TSB has agreed the sale of a portfolio of performing buy-to-let mortgages. The portfolio, worth about €1.2 billion, has been sold to Citibank London, the UK branch of US-based Citibank. The deal also involves the sale of a pool of about 3,700 buy-to-let loan accounts. All of the loans are…
Mortgage lenders have tightened their criteria for mortgage applicants ahead of changes to the governments furlough scheme. The tightening was predicted by brokers and is being made in line with upcoming changes in the furlough scheme that comes to an end in October. The current government guidance surrounding the end of the scheme states that…