View more on these topics

Mayfair Bridging granted Ucis permission

Mayfair Bridging have been granted permission to become the authorised operator of a Ucis, with a formal launch scheduled for the new year.

The fund is suitable for sophisticated or professional lenders with an anticipated net return on average of 10.2 per cent per annum.

The bridging loans investors are exposed to will be ones they have invested in.

Mayfair director Shoaib Bux says: “Investors in other schemes usually have to put their money into a pot and then leave it for the asset manager/lender to lend those monies how they see fit. With our scheme we have put the power to the investor, it is up to them if they want to put money towards a certain deal.

“They do their own due diligence based on the information provided to them. We believe this will give us a lot of flexibility so that for a good deal with a low LTV where we are competing on the rate, we can speak to our investor pool and ultimately offer a more competitive rate to the borrower.’’

IFAs will receive a 1 per cent commission for referrals.

Recommended

New rules must be applied sensibly

The FSA’s final rules under the Mortgage Market Review proved that the days of easy and affordable credit are long gone. Lenders will further tighten the reins on borrowers by ensuring they abide by much stricter mortgage criteria, in a drive to ensure that inadequate standards are a thing of the past. The FSA’s proposals […]

Barclays Rain 480
1

Ex-FSA chief exec Hector Sants in talks to join Barclays

Former FSA chief executive Hector Sants is in talks with Barclays about taking up a senior executive role, according to reports. Sky News is reporting that Sants is in talks to fill an executive role overseeing compliance at the bank, which would involve regularly dealing with the FSA. Sants quit the regulator in June this […]

Unfinished business?

Pension specialist Fiona Tait gives an update on three big announcements from the 2016 Budget – Pensions Advice Allowance (PAA), the Lifetime ISA (LISA) and the pension dashboard. £500 Pensions Advice Allowance What’s new Under current rules it is possible to deduct an adviser charge from a defined contribution pension fund to pay for financial […]