Inform 7th October 2022

Vantage Finance and Enterprise Finance are merging to create a new market-leading specialist finance brokerage called Aria Finance.

Parent company Enra Specialist Finance, has decided to bring together the two master brokers to offer their brokers and borrowers access to a broader range of lending solutions.

Aria will be headed up by managing director, Lucy Barrett, formerly of Vantage Finance.  Meanwhile, Harry Landy has taken the decision to retire from the specialist finance industry to enjoy a well-earned-career break after 21 successful years growing Enterprise Finance as managing director.

In merging the two businesses, Aria combines best-in-class products, allows for greater knowledge sharing and collaborative working, and further enhances the services offered to intermediaries and their clients.

It also brings together the market-leading lender relationships of both Vantage and Enterprise. That is something brokers reported to be a top priority when picking a master broker in a poll conducted by the two businesses ahead of the launch.

As part of Enra, Aria also has the backing of one of the world’s largest investment companies, following its recent acquisition by Elliot Advisers which underlines the group’s commitment to growth and investing in its offering.

Lucy Barrett, managing director of Aria, comments: “The launch of Aria brings together two of the most reputable and successful specialist distributors in the market to create one leading specialist brokerage.

“We will continue to offer the same exceptional service that clients of both businesses have come to expect over the last 20 years, while providing access to a wider panel of lenders and a broader range of lending solutions.

“By increasing our capacity and merging all of our knowledge, experience and expertise, we will be in the best position possible to cater to the funding requirements of brokers and their clients.

“The specialist finance market is fast-paced and ever-changing, and the launch of Aria represents the next phase in our evolution, which will enable us to further enhance the products and services we offer.

“We are combining a first-class, relationship-led approach and an excellent case management experience.  Aria brings together the very best of Vantage and Enterprise together under one roof to create a specialist finance distributor like no other.

“It is a proud day for everyone involved in the launch and we are incredibly excited to begin this exciting new chapter.”

Aldermore’s latest First Time Buyer Index surveyed 2,000 prospective first-time buyers and 500 buyers who had bought their first home since March 2020. They wanted to know how FTB’s were feeling about buying their first home, and their experiences of the process.

There’s some interesting stats in there…

Read the full FTB index report here.

Due to the ongoing market volatility, our products could be subject to reprice or withdrawal. Product rates can be secured by fully submitting applications, including fees paid.

In these unprecedented market conditions, avoiding delays, referrals and declines is more important than ever.  Our Lending Lowdown brings you up to speed on how to package the perfect case.

That way, you’ll know exactly what you need to provide to avoid delays, referrals and declines.  And the next time you start an application, you’ll have an open and shut case.

When it comes to packaging a case, did you know:

• Visit the broker portal where you will find a simple checklist that tells you exactly what you’ll need to provide
• Giving us additional documents and bank statements can cause unnecessary delays – so only give is what we ask for
• It’s easier for us to review an application once we have every document – so hold off and upload your docs together
• You can leave a note on the portal to highlight anything to us that you think we may query

Read the full article here.

There is no question that we are in the midst of a turbulent time for interest rates. Recent data from Moneyfacts found that the average rate charged on a five-year fixed rate has now passed 4% – the first time it has done so since February 2013. Brokers will be only too familiar with lenders pulling and repricing products – often at relatively short notice – or in some cases, even pausing lending altogether.

On the surface, it’s easy to ascribe this activity to the changes in bank base rate. After all, following years of record low base rates, we have seen a succession of increases since December, taking base rate from 0.1% to its current point of 1.75%. And as the base rate moves, so too do the rates on mortgages, right?

Not quite, it’s important for brokers to recognise that this link is not so cut and dried, and that something called “swap rates” are worth our attention.

Why understanding swap rates is important for brokers.

Did you know the average working household is only 19 days from the breadline? That’s a 21% decrease since April 2020 in the length of time they’d be able to cover basic living costs.

Their 10^th edition of Deadline to Breadline research looks at:

• How long it would take someone to reach the ‘breadline’ if they lost their income
• What’s preventing your clients from engaging with their financial plans
• How client buying behaviours are changing in response to the cost of living crisis

Download the report.

What are the creative solutions to the current Buy-to-Let market for landlords and their brokers? Our Commercial Director looks at the flexibility offered by short-term bridging finance as we navigate the current environment.

Find out more here.

Dynamics across the rental sector have always been fluid, and the requirements of a variety of rental properties continue to evolve in terms of length of tenancy, space, property type and location, especially with the emergence of a new remote working culture. A lack of supply and heightened demand is also combining to drive rental prices higher.

This was evident in the Q2 2022 BVA BDRC Landlord Panel research which outlined that almost 8 in 10 landlords reported increasing rents in the areas where they operate, up 6% from Q1 and 29% when compared to Q2 2021 year ago. Similarly, more than half of landlords have increased rents in the last 12 months (+7% vs. Q1 ’22).

Click here to read the full story.

Malcolm moves into this new yet familiar position from his former role as Chairman of Source Insurance, bringing extensive knowledge and expertise in the insurance market.
Flourishing in a range of different Sales roles, Malcolm had his first stint as Managing Director of Source Insurance between 2004 and 2011, during which the Source Insurance team built out a fast-growing insurance broking business.

Throughout his career, Malcolm has proved himself a key figurehead within the wider mortgage market after stepping into senior positions at First2Protect, MortgageGym and Red Apple Finance.

Malcolm now returns to Source Insurance as Managing Director at an exciting time for the company as they strengthen their proposition, continue their ongoing technological transformation, and diversify their distribution channels. Malcolm brings expertise and an innovative leadership approach to the role and fundamentally understands the company’s heritage, key principles, and core values, making him an excellent choice to guide the next chapter of Source Insurances’ ambitious growth plan.

Find out what Malcolm has to say.

Our Commercial Team is dedicated to helping you with all your commercial lending enquiries.

This enables you to refer your clients for advice on a wide range of specialist property finance and commercial mortgages.

By calling on our expertise, you can increase the range of services you can offer to your clients! This allows you to focus on your core strength of giving excellent mortgage advice to give the best customer outcomes and benefit from enhanced commission structures at the same time.

Why refer your clients to TBMC Commercial?

We can help your clients with:

• Commercial  Mortgages and Specialist Property Finance
• Commercial & Residential Property Investment
• Bridging and Short-term Finance
• Secured Loans
• Development Finance
• All types of Business & Corporate Finance (including Invoice Finance)

TBMC Commercial are experts in our field with over 30 years’ experience behind us. We will only work in your client’s best interest, and will outline the most suitable terms available from the whole market. We will then manage the application process from enquiry to completion, giving you peace of mind that your clients are in good hands.

Where applicable, you will receive enhanced commission on products sold, and we can guarantee that your clients will be looked after without the fear of cross-selling any competing products or services.

Keystone launches their new variable rate product offering to support brokers and their landlord clients throughout this challenging time.

The range of buy-to-let variable rates are available for both new and existing borrowers at 65% as well as 75% LTV.

Existing Applications:
They have stated that any applications that have been submitted before 27^th September 2022 but had not yet reached offer stage will be able to switch over to the new variable product rates. Borrowers will receive a reduction of 0.50% on the rate compared to new applications.

All existing applicants will also be refunded their application and valuation fees, regardless of whether they decide to move onto Keystone’s new variable rates or choose to close the case.

View their rates for existing applications here.

New applications:
Any new applications that Keystone receive, will be able to take advantage of their new variable rates which start at Bank Base Rate plus 2.65%.

View their rates for New Applications here.

Switch & Fix:
Keystone have created a facility called Switch and Fix, this allows any applications that proceed on one of their variable rates to be able to move over to an applicable fixed rate product when they become available. They will be able to do this easily without incurring an Early Repayment Charge or Arrangement Fee.

If you have any questions or need any assistance with your case enquiries, Keystone’s Business Development Managers are there to help, call the broker hotline on 0345 148 9086 or email enquiry@keystonepropertyfinance.co.uk.

In my last article I spoke about some key highlights of our latest research and shared the top financial fears and trends we’re seeing amongst consumers. I now move on to focus on an under protected segment of the market – self-employed workers.

Read now