Editor's update: Time to give something back

Editor's update: Time to give something back


Over the past fortnight, the B&C office has seen a huge array of smiling faces pass through its doors.

I’d love to say that the visitors were all just happy to see me, but in reality, they were more excited to be collecting their iPads and Apple TVs which were  won at the Goldentree casino at the Bridging & Commercial Awards 2011.

All in all, we gave out six iPad2s and seven Apple TVs – significantly more than we’d anticipated, proving that our winning thresholds were just too easy for the savvy bridging brokers and lenders who played.  Keep your eyes peeled for our special web page dedicated to the winners.

Bridging & Commercial wasn’t the only one giving something back this July, though. As a means to celebrate one year in the mortgage market, and three months in the short term lending market, Precise Mortgages treated an exclusive set of guests to a free bar, elegant surroundings and fine food at Delfina in South London last week.

On entering the swanky venue, through the signature Precise ‘doors’, we were all stamped with the  company logo so that we would “remember whose party we’d been to the next day”, according to Alan Cleary, Managing Director.

Sophisticated and professional as the crowd were, we were dubious as to whether Alan’s morning-after predictions would fare true. However, the attentive venue staff filled up glasses with such vigour and served such petite, albeit beautiful, portions of food that by 9pm, most of the room was indeed merry.  

The relaxed atmosphere that ensued as a result created a great networking opportunity and the chance to catch up with a number of intermediaries who do not usually feature at these kinds of events.

It was also lovely to hear Ian Lonergan, Chief Executive of Precise, as well as Alan Cleary, talk about the company’s history and future plans. We’re looking forward to the launch of Precise’s new products with great anticipation.

Alongside the parties and lunch meetings that we’ve been attending almost daily, work has been busy. I’m happy to report that after a ‘hiatus’ in gossip, we are now receiving a healthy flow of informative and controversial news.

UTB’s recent rate cut will undoubtedly prove beneficial to this market, as will Cheval’s increased presence in the auction market. Blemain also announced that they will be holding an awards ceremony for their brokers, which is set to  continue the trend of  to ‘giving something back’.

Perhaps the most shocking news of late

though, at least for myself, was that ex-Tiuta CEO George Patellis has joined Montello Bridging Finance as a senior adviser.

Following the high-profile coverage over Mr Patellis’s exit from Tiuta, which was proceeded by significant restructuring within the firm, I for one expected that I would have to wait several months, if not years, before his name heard in the sector again.

 In addition, I found it intriguing that Mr Patellis, a well-known and well-established name in bridging, has joined a newer lender, which I had previously thought of as being relatively small.

Earlier this year, Montello also appointed Richard O’Toole – who still sits on the board of Goldman Sachs Bank (Europe) plc - as a non-executive director. 

I generally try to steer clear of making predictions, but I think that, in light of these developments, we will be hearing much more from Montello in the latter half of 2011.

As always, feel free to send any pieces of news or gossip to me at [email protected].

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