News in brief - 15 April 2024

Tuscan Capital has appointed Rebecca Salt to the role of regional sales director for the Midlands. As part of the role, she will be working with firms, advisers and brokers across the region, supporting the firm’s short-term finance clients, enhancing and developing relationships, and providing support and resource to those who would benefit from its product range. Salt brings over a decade’s experience in the commercial finance sector, starting with Aldermore Bank, before joining Bibby Financial Services, where she worked in Chicago on international assignment for two years. She joined Tuscan Capital from Stream Bank in 2020, where she worked most recently with its bridging market team.

Residential by Foundation has launched a range of new products and has announced a range of rate cuts across its limited edition, special and core ranges. New products include an F1 – for owner-occupiers who just fall out of the mainstream or need added flexibility – five-year fixed-rate limited edition mortgage, available up to 80% LTV with a rate of 5.99%, with a maximum loan amount of £750,000 and a fixed £1,295 fee. The lender has also reduced rates on it F1 and F2 special fee-assisted two- and five-year fixed rate products. On its F1 range, rates have been reduced by 20 bps, now starting to 6.24% with a fee of £795, while on the F2 range, rates now start from 6.34%. Furthermore, selected core F1 and F2 two- and five-year products now start from 6.19%.

Hampshire Trust Bank (HTB) has announced two senior appointments in order to uphold its "go-to-lender" position throughout the entire residential investment lifecycle. Alex Upton has been appointed as managing director for the specialist mortgages division, and she will be succeeded as managing director for development finance by Neil Leitch, who is currently commercial director for that division. HTB's bridging division will remain under the leadership of director, Jamie Jolly. Upton joined HTB in 2018, having worked as the leader of the development finance division.

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