MAG (Manchester Airports Group) today revealed the green light for a £440m of investment in Manchester Airport, creating thousands of jobs and unlocking billions of pounds of economic value for the North over the next decade. The investment will transform the passenger experience at the UK’s third largest airport, with
Ampd Energy, an Earthshot Prize finalist that has pioneered the use of battery energy storage systems in urban construction, that their flagship product has been launched in the UK, deployed to London’s Olympia Redevelopment. In partnership with Laing O’Rourke, principal contractor for the Olympia Redevelopment, and subsidiary Select, the “Enertainer”
Award-winning housebuilder, Crest Nicholson, has made two new appointments to its expanding Yorkshire division. Andrew Sanderson has been appointed as Build Director and Paul Thornton as Head of Land & Planning. Previous Regional Director, Guy Evans, will now move into the role of Managing Director. Both Andrew and Paul, collectively
Gripple’s innovative Fast Trak pre-fabricated bracket solution has been specified for One Cambridge Square, a new office and retail space within the heart of Cambridge North. Working alongside main contractor Wates and subcontractor PA Collacott & Co, Gripple supplied its innovative rapid fit trapeze system Fast Trak to suspend electrical
Huntsman Building Solutions, a leading manufacturer of spray foam insulation, has launched a brand-new training programme to support surveyors and construction professionals to build their knowledge of the insulation material. Spray foam insulation is growing in popularity in the UK as more homeowners look to home improvements in response to
Southern Housing has confirmed its first major asset acquisition since registering as a housing provider in December 2022 following the merger of Southern Housing Group and Optivo. The first tranche transfer of 694 homes from L&Q, which completed today, builds on Southern Housing’s already significant presence in Surrey, England. Richard
With energy transition and energy security rising to the top of the agenda for Government and businesses across the UK, the Nationally Significant Infrastructure Projects (NSIPs) Forum convenes in London on 1-2 March 2023, bringing together industry experts to provide the latest updates on new energy projects, changing infrastructure policy
Cyril and Louis Keller, the brothers who invented the world’s first compact loader (later named the Bobcat skid-steer loader), have been selected as 2023 inductees for the National Inventors Hall of Fame (NIHF) in the USA. The NIHF annually recognizes inventors, promotes creativity and advances the spirit of innovation and entrepreneurship.
Remortgaging is the process of switching to a new mortgage provider or renegotiating the terms of your existing mortgage with your current lender. You can do this to secure a lower interest rate or to access property equity, which is the difference between the value of the property and the
Banking is regulated at both the federal and state level. In order to obtain a bank charter, banks must meet certain requirements set forth by banking regulators. By understanding the banking license requirements, you can be sure that your bank meets all of the necessary standards. But when do you
BDC 319 : Aug 2024
MAG (Manchester Airports Group) today revealed the green light for a £440m of investment in Manchester Airport, creating thousands of jobs and unlocking billions of pounds of economic value for the North over the next decade. The investment will transform the passenger experience at the UK’s third largest airport, with new spacious facilities, state-of-the-art technology and equipment, and an exciting array of shops, bars, restaurants and airport lounges. It is the final phase of the £1.3bn Manchester Airport Transformation Programme (MAN-TP), first announced in 2015 with a 10-year vision to revolutionise the customer experience at the Northern hub and unlock the potential of its two full-length runways. The first phase saw Terminal 2 more than double in size, with the new facility having received positive feedback from passengers and airlines since opening in July 2021. Phase two will double the size of the existing departure lounge, with a wider selection of shops and food and drink outlets, showcasing the best of what the North has to offer. It will also involve the construction of an additional security hall, fitted with next-generation security scanners. Mace has been appointed to support MAG with the overall Programme Integration, management and Construction Managers, for overseeing two key elements of the programme – the redevelopment of Terminal 2 and the construction of a new pier, matching the look and feel of the first pier that opened in 2019 and creating extra capacity for aircraft. Jacobs will be the Principle Designer for Airfield works, delivering a new dual taxiway system to improve airfield efficiency, with flexible aircraft stands. Vanderlande has been appointed as Principle Contractor for the Baggage systems. The terminal’s new hold baggage system will be able to handle over 5,000 bags per hour, more than doubling its current capacity, with two new teardrop check in islands. Other key appointments include; Paul Willis, Chief Development Officer, Manchester Airport Group, said: “The second phase of the Manchester Airport Transformation Programme represents the concluding chapter of the most ambitious expansion project in the history of the airport, and in turn signifies a huge milestone for our city, the North and also the wider recovery of the travel industry. “We are looking forward to working with Mace and all our partners to create a world-class facility that will provide not only regional connections, but also improved global connectivity. “Their skills and experience will align perfectly with the significant expertise we have within the MAG team, and we look forward to bringing this project to life for the benefit of all our colleagues, passengers and commercial partners.” The expanded Terminal 2 has already welcomed a number of new airlines to Manchester, and seen the launch or relaunch of a string of key routes. Examples include a brand-new service to Kuwait, a revived service to Beijing and a first UK Transatlantic base for AerLingus. This latest investment will complete the transformation of Terminal 2, delivering improvement to all stages of the passenger journey – from check-in to baggage reclaims – as well as upgrading its airfield to cater for next generation aircraft. More than 500 jobs will be created in the construction phase alone, while independent analysis shows around 16,400 extra jobs will be generated by 2040 as a result of the economic activity stimulated by the expansion of the airport and its route network. Mace will also engage 1,500 young people across Greater Manchester, aim to raise £70,000 for local charities and donate 500 hours of employee volunteering time. Mace and its supply chain partners are also targeting that at least 5% of the workforce should be apprentices for the duration of the project. Over £1.3m in social value has already been created to date. Jason Millett, Chief Executive Officer, Mace Consult, said: “It’s fantastic to be delivering a project which will have such a significant impact on levelling-up the UK through job creation and enhanced connectivity. Through our partnership with Manchester Airport and local stakeholders, we will create vital infrastructure for passengers. “Helping to deliver on our vision for growth, our experienced project and programme consultants will bring their extensive aviation expertise and regional knowledge to apply fresh thinking to our approach. In turn, we aim to continue supporting the aviation sector’s path to recovery post-pandemic.” Further information, images and CGIs of the transformation programme’s second phase will be released in the coming months. Building, Design & Construction Magazine | The Choice of Industry Professionals
Ampd Energy, an Earthshot Prize finalist that has pioneered the use of battery energy storage systems in urban construction, that their flagship product has been launched in the UK, deployed to London’s Olympia Redevelopment. In partnership with Laing O’Rourke, principal contractor for the Olympia Redevelopment, and subsidiary Select, the “Enertainer” has powered three cranes at the construction project in the six weeks since it’s deployment in December. With over 130 of the smart batteries live across building sites in Hong Kong, Singapore, and Australia, the Enertainer is a plug and play device designed for the electrification of construction. Providing clean, quiet and fully automated energy delivery, it enables construction to transition away from fossil fuels. Thirty times quieter than a diesel generator, the Enertainer is designed for the tough, dynamic and space-constrained needs of construction sites. In the six weeks since the Enertainer has been operational the advanced energy storage system has introduced significant financial and environmental advantages; over the life of the project, an Enertainer will be more cost effective than using diesel generators, as well as saving space and manpower time. According to the IEA, the combined building and construction sector is responsible for 30% of total global final energy consumption and 27% of total emissions in the overall energy sector. Compared to fossil fuel generators, the Enertainer reduces carbon footprints by up to 90%, is significantly quieter, emits zero air pollutants, and eliminates diesel handling and usage risks. With very few moving parts, the Enertainer has minimal maintenance and zero refuelling downtime. By replacing diesel with electricity from the grid network, the Enertainer can also realise significant cost-savings as well as operational benefits for construction sites in the UK and around the world. Additionally, as an IoT enabled device, the Enertainer can be remotely monitored anytime and anywhere, providing a deep level of data-transparency for data-driven decision making. The Enertainer is the first energy storage system in the UK able to power such large construction equipment which will be crucial as the construction sector looks to reduce its environmental impact. This partnership with Select has entailed the deployment of the Enertainer in central London, and is available now across the rest of the UK. Brandon Ng, CEO and Co-Founder of AMPD Energy commented: “We are proud to have launched our first European deployment for the Olympia Redevelopment. This is a fantastic opportunity for us to demonstrate the ‘Enertainer’s’ compelling environmental and commercial impacts, right here in London. We’re excited by the platform’s ability to transform construction and are proud to be partnering with industry leaders like Select and Laing O’Rourke, as we continue our journey towards making this a reality. We look forward to building on this first deployment over the course of 2023, powering cleaner, cheaper construction in the UK and across the world.” From Ian Fleming- Select Site Services Product Leader at Olympia Redevelopment commented: “The Ampd Enertainer is a game changer for site electrics and its infrastructure. Not only does it enable us to power the crane on a small grid connection, but the innovative design allows us to feed it with small power cables and charge it when site demand for power is low. It has the capacity to run additional equipment so we are looking at other applications for it already.” From Stephen Bradby – Plant & Engineering Technical Leader at Select commented: “At Select, we understand our responsibility to challenge the norm and champion new sustainable technology. We’ve made significant investment in zero emission equipment and can now offer plant including our battery-powered crawler cranes and drilling rigs to our customers that dramatically reduce carbon emissions. We’re constantly pushing the boundaries of what’s possible through collaboration with innovative partners like Ampd Energy. When we were approached by Ampd Energy we immediately saw the opportunity to help eliminate diesel and its derivatives, from sites, particularly the ones using our large tower cranes, with high power demands. Each one of these Ampd units removes a 500kVA generator and all its associated emissions, noise, space, and cost. It really is making a vast improvement on the environmental impact of construction.” * Data taken from BEIS conversion factor spreadsheet and Enernet monitoring system, annualised for an annual figure. Building, Design & Construction Magazine | The Choice of Industry Professionals
Award-winning housebuilder, Crest Nicholson, has made two new appointments to its expanding Yorkshire division. Andrew Sanderson has been appointed as Build Director and Paul Thornton as Head of Land & Planning. Previous Regional Director, Guy Evans, will now move into the role of Managing Director. Both Andrew and Paul, collectively bring over 45 years’ experience in the housing sector to their new roles. Andrew re-joins Crest Nicholson after beginning his career at the housebuilder over 25 years ago as a Contracts Manager. Since, he has gone on to work as a Construction Director for the likes of Miller Homes, Keepmoat Homes and most recently, Countryside Properties. Paul joins from Bellway Homes Yorkshire where he was a Planning Manager and prior to that worked at Persimmon Homes (West Yorkshire). Paul will lead on helping to drive business growth through the expansion of the land portfolio in the region, whilst Andrew will be responsible for delivering high quality homes and developments, maintaining excellent customer service. Guy Evans, Managing Director at Crest Nicholson Yorkshire said: “Over the last year we have been working to establish Crest Nicholson’s presence in Yorkshire. The division plays an important role within the company’s overall growth strategy and with our first acquisition complete and others underway, we’re pleased to be building on recent successes by welcoming both Andrew and Paul to the team.” Andrew Sanderson, Build Director at Crest Nicholson Yorkshire comments: “After over 25 years, I’m delighted to be re-joining Crest Nicholson. It is an exciting time for the new Yorkshire division, and I look forward to further supporting its expansion, delivering high quality homes in thriving communities.” Paul Thornton, Head of Land & Planning at Crest Nicholson Yorkshire comments: “I’m pleased to be joining the Yorkshire division, building on the work of Guy and his team over the last year to further expand Crest Nicholson’s offering, working towards becoming the housebuilder of choice in the region.” The Crest Nicholson Yorkshire division, which was established last year, forms part of the company’s growth strategy expanding into Northern England. It oversees North, West and South Yorkshire as well as the East Riding. In September 2022 the new division celebrated its first major land milestone, acquiring a site in Sprotbrough, on the edge of Doncaster. In 2023 the business expects to expand this further, with plans to build 600 homes annually. Building, Design & Construction Magazine | The Choice of Industry Professionals
Gripple’s innovative Fast Trak pre-fabricated bracket solution has been specified for One Cambridge Square, a new office and retail space within the heart of Cambridge North. Working alongside main contractor Wates and subcontractor PA Collacott & Co, Gripple supplied its innovative rapid fit trapeze system Fast Trak to suspend electrical containment throughout each floor of the 94,000 sq ft building. Fast Trak was chosen as it offers speed, flexibility and efficient use of space and is renowned for being six times faster to install than traditional methods. Gripple’s Fast Trak also enabled PA Collacott & Co to overcome challenges on the site, including the fact that the cable baskets and trays had to navigate through different heights and levels on each floor, whilst retaining an uncluttered appearance and not compromising safety. Fast Trak was the ideal solution as it benefits from tool-free easy adjustment capability, where the bracket can be quickly moved up and down the track in 10mm increments, before being locked securely back into place. This meant that if the baskets needed to be raised slightly to run underneath or through a steel beam, then this could be done quickly and easily. An electrical supervisor from PA Collacott & Co said: “Fast Trak has definitely helped us to deliver this project much more quickly. We had some tricky steel beams to get through which Fast Trak helped overcome, with its quick adjustment mechanism – which would have been difficult and time consuming with traditional methods. A whole floor took two installers four days to complete – the same space using traditional methods would have taken at least three weeks, saving a great deal of time and labour!” As One Cambridge Square is BREEAM Excellent rated, it was an added bonus that Fast Trak offers carbon savings over traditional methods. Fast Trak helped to save 4,464 kg of embodied carbon on-site – this is equivalent to driving 15,338 miles. An MEP Site Manager from Wates said: “The fact that Fast Trak is pre-formed and arrives on site ready to go means we’ve seen no wastage at all. In the past we have used wedge anchors, threaded rod and channel on a project like this. Fast Trak by comparison is a lot quicker and has eliminated the need for hot works and permits The tracks can be bent easily in the bracket. We have had some great feedback from the installers, who carried out the project really quickly. We’ve also seen no real waste on-site. It has been fantastic.” With fire safety in buildings becoming more important following the recent update to Approved Document B of Building Regulations, Gripple has secured independent test data for Fast Trak, which confirms that the entire system meets the fire performance requirements associated with BS EN 1363-1:2020. Gripple’s Area Sales Manager Josh Bloomfield, explains: “The fact that Fast Trak achieves F120 accreditation was essential on this project. It made a big difference to health and safety on-site and also reduced labour by 17 weeks.” Fast Trak is a pre-fabricated, trapeze bracket, which enables efficient, flexible and safe installation of electrical containment, ductwork, pipework and other mechanical services. Fast Trak comprises metal tracks, from 200mm to 1,500mm in length, accompanied by mounting brackets, from 170mm to 1,470mm wide and is designed to suit a wide range of installations from high-rise office blocks, hotels, hospitals, open retail spaces, residential buildings, or transportation hubs. Fast Trak is extremely versatile as the four-sided bracket provides suspension points on each face. Thanks to its ‘channel style’ return, Fast Trak can be used with standard channel nut fixings along with Gripple’s range of fixings and accessories. All Fast Trak pre-fabricated tracks and brackets are organised in user friendly packaging, with a handle, making it easy to carry on-site. The system can also be moved onto and around site easily and stacked tidily on-site to reduce storage requirements. Instructions for Fast Trak are included on the packaging, with a QR code link, which removes the need for further paper usage. Gripple is committed to providing customers with greener solutions that reduce carbon and maximise use of recycled materials. For contractors and developers, use of Fast Trak offers minimal waste due to the fact that 95% of packaging is FSC cardboard, which is recyclable. For more information about the Fast Trak™ system visit the websitehttps://www.gripple.com/fast-trak Please see the below video on the YouTube channel… Building, Design & Construction Magazine | The Choice of Industry Professionals
Huntsman Building Solutions, a leading manufacturer of spray foam insulation, has launched a brand-new training programme to support surveyors and construction professionals to build their knowledge of the insulation material. Spray foam insulation is growing in popularity in the UK as more homeowners look to home improvements in response to the ongoing energy crisis. According to government figures which state that 54% of UK homes have an energy efficiency rating below C1, millions of homes in the UK could benefit from improved insulation, helping to save occupants money on their heating bills and making homes more energy efficient. A key driving force behind the upcoming ECO+ scheme, improving energy efficiency will help to curb growing emissions from the UK’s housing stock. While more people are turning to spray foam insulation, research carried out by Huntsman Building Solutions found that more than half of UK surveyors are unfamiliar with spray foam insulation and have a limited understanding of this product. As well as limiting their ability to properly assess homes with spray foam insulation installed, this lack of understanding is compounding the reluctance of mortgage lenders to finance homes which have improved their performance with spray foam. The research, which sought the opinions of a cross-section of UK-based surveyors*, found that 41% of surveyors possess limited knowledge of spray foam and 17% know nothing at all about this insulation solution. Simon Baker, President of Huntsman Building Solutions (HBS), says: “While the performance of spray foam insulation is proven with BBA certification, we recognise the urgent need to support professionals to strengthen their knowledge of the material. In turn, we can correct the misconceptions around the insulation material and enable more UK homes to benefit from its performance. “Our brand-new training modules represent our starting point on this journey. Designed specifically for surveyors, our technical department will help surveyors in understanding how to assess an installation, identify the differences between correctly installed and poorly installed spray foam, and its benefits in comparison to traditional insulation methods. Equipped with a rounded understanding of the material, professionals can make more informed decisions, in turn supporting homeowners to maximise the performance of their homes – safe in the knowledge they’re doing so for the long-term.” For UK homeowners looking to improve energy efficiency through a properly insulation loft space, Huntsman Building Solutions recommends the use of open-cell spray foam insulation and states the product should only be installed by trusted and trained professionals. HBS Authorised Installer Network provides a way to source qualified contractors, ensuring safe, correct and fully documented installations. Training modules on spray foam insulation will run throughout the year, with the first session taking place on Friday 3rd February. The training is free to attend, and tickets can be reserved here: https://www.eventbrite.com/e/hbs-university-virtual-training-uk-surveyor-training-tickets-492919173517 Building, Design & Construction Magazine | The Choice of Industry Professionals
Southern Housing has confirmed its first major asset acquisition since registering as a housing provider in December 2022 following the merger of Southern Housing Group and Optivo. The first tranche transfer of 694 homes from L&Q, which completed today, builds on Southern Housing’s already significant presence in Surrey, England. Richard White, Executive Development Director at Southern Housing said: ‘We are thrilled to have successfully completed a stock acquisition of this scale during what is an exciting time for Southern Housing. ‘It provides a timely boost for the new organisation and represents our forward- looking approach to being a strong, well-resourced local provider of homes. Strengthening our presence across key local authorities will allow us to achieve our ambition of deepening our ties with communities, being a stronger partner with local authorities and creating better housing for local people’. The newly acquired homes are located within eight local authorities, Guildford; Mole Valley; Runnymede; Rushmoor; Reigate & Banstead; Surrey Heath; Woking; and Wokingham. Southern Housing’s significant and pre-existing presence has been built up over several decades. The acquisition of almost 800 former L&Q properties is wholly aligned with the strategy of the new organisation. Emmanuel Thiagaraj, Senior Stock Acquisitions Manager at Southern Housing said: ‘This is our first stock transfer completion under the Southern Housing banner. We are delighted to share its success so soon after the start of the New Year and the new organisation. The acquisition epitomises Southern Housing’s vision as a creator of communities where everyone has a safe, secure home in a place where they’re proud to live. ‘Creating areas where we have a high concentration of homes, allows us to wield more influence and focus more resources, which will enable more positive change on behalf of our residents’. The acquisition will take place in two tranches with 694 homes transferred today, with the rest in March 2023. Building, Design & Construction Magazine | The Choice of Industry Professionals
With energy transition and energy security rising to the top of the agenda for Government and businesses across the UK, the Nationally Significant Infrastructure Projects (NSIPs) Forum convenes in London on 1-2 March 2023, bringing together industry experts to provide the latest updates on new energy projects, changing infrastructure policy and plans to speed up the process. The NSIPs Forum provides a wonderful opportunity for industry leaders to network and share ideas concerning some of the biggest issues currently facing planning for major infrastructure. This year’s event will provide updates on ‘Project Speed’ – a key initiative in the sector – and a focus on the impacts of increased number of energy schemes, including new energy projects incorporating hydrogen and solar. Among the keynote speakers at this year’s forum will be Jenny Preece, deputy director of planning at the Department for Levelling Up, Housing and Communities. She’ll deliver updates for delegates on Project Speed, key policy changes and the progress of the Levelling Up and Regeneration Bill. Other speakers include Matthew Scriven, joint operations lead for NSIP Reform at the Planning Inspectorate, who will give the very latest guidance on making applications in 2023, and Jamie Baldwin, development project director at Ørsted – the largest energy company in Denmark, who will provide valuable insight into how to successfully deliver offshore wind and the lessons to be learned from new developments. A panel comprising Chris Taylor, head of planning and consents at Progressive Energy,Colin Turnbull, Partner at DWD, Karen Barclay, head of major infrastructure – planning and stakeholder engagement at Anglian Water, will explore the types of infrastructure of infrastructure needed including water and the latest energy projects incorporating floating offshore wind, nuclear, solar and hydrogen, and how to deliver projects at speed. While another panel discussion involving John Twomey, head of customer management at the National Grid, will look at the challenges facing the grid in view of the ever-increasing number of energy infrastructure projects. The two-day event will be chaired by Gideon Amos OBE, the former planning inspector, UK Infrastructure Planning Commissioner and head of the Town and Country Planning Association, now managing director of Amos Ellis Consulting. As a current Council member of the National Infrastructure Planning Association, Amos keeps a close eye on policy and practice developments and feels it is vital for the industry to come together at this crucial time, as we emerge out of the pandemic. Mr Amos, said: “The NSIPs Forum provides a perfect opportunity for industry leaders in national infrastructure projects to reflect on the past year, provide practical advice on planning and delivery, and help pinpoint the opportunities for organisations to make efficient progress during a period of economic instability. “In the last 12 years, the NSIPs regime has delivered consents to more than 100 of the UK’s most important, complex, and valuable projects, but we now face unprecedented challenges, including infrastructure delivery, how the economy – and its different sectors – will recover after the pandemic, all in the context of climate change. “This year I’m delighted our programme will span across a range of live renewable energy schemes involving hydrogen, solar, wind and water, biodiversity, nuclear and National Grid connection projects. “As ever, there will be practical advice and guidance covering topics like National Policy Statements, climate change, stakeholder engagement and public consultation. However, answering the critical questions surrounding how to accelerate national infrastructure to meet the climate and energy challenges, while properly taking into account the interests of developers, local authorities, communities, and the environment, will always be at the heart of the NSIPs Forum.” The 11th Annual NSIPs Forum will take the form of an in-person event, held in at the Congress Centre in London. The event is organised by Waterfront Conference Company, which delivers physical and virtual policy conferences for the planning, energy, rail, ports and maritime sectors. For more information and to register for NSIPs Forum 2023, visit the event website at https://waterfront.eventscase.com/EN/NSIPs23 or for other Waterfront events, visit https://www.waterfrontconferencecompany.com/ Building, Design & Construction Magazine | The Choice of Industry Professionals
Cyril and Louis Keller, the brothers who invented the world’s first compact loader (later named the Bobcat skid-steer loader), have been selected as 2023 inductees for the National Inventors Hall of Fame (NIHF) in the USA. The NIHF annually recognizes inventors, promotes creativity and advances the spirit of innovation and entrepreneurship. How it all began In the 1950s, brothers Cyril and Louis operated a small machinist-blacksmith shop in Minnesota together, building and repairing machinery for local farmers. A farmer approached them with a need for a self-propelled loader light enough to be lifted to the second floor of a turkey barn and small enough to clean around the barn’s upright poles. In response, in 1957, the Kellers built a three-wheeled loader with two drive wheels in front and a caster wheel in the rear – the predecessor to the modern skid-steer loader. The loader came to the attention of Melroe Manufacturing Company (now Bobcat), which invited the Kellers to demonstrate their invention in their booth at the Minnesota State Fair in 1958. After a successful demonstration at the fair, the Melroe Manufacturing Company was awarded exclusive manufacturing rights to the machine on a royalty basis and hired the Keller brothers to refine the design and put the machine into production. World’s first true skid-steer loader To improve on the design of the loader, a second set of drive wheels was added to the back of the loader in 1960. With this four-wheel drive, the M400 became the world’s first true skid-steer loader. ‘Skid-steer’ describes the unique steering system, which enables the machine to turn within its own length. Later, the Bobcat brand name was established because of the machine’s toughness, quickness and agility. Joe Keller, son of Louis, said, “The Bobcat loader has positively impacted the lives of thousands of employees who have worked for the company, dealers who sell the machines, and customers who use the equipment every day to build their livelihood. While we may not always realize its impact, it is an integral part of our everyday life—from supporting farm operations that result in food on our tables to hauling materials around a jobsite building our homes and offices.” Sixty-five years later As Bobcat celebrates 65 years since the invention of the machine that created the compact equipment industry, it has continued to forge the future of the industry through innovation and forward-thinking. Bobcat now offers more than 100 products in the compact, grounds maintenance and industrial equipment industries, and produces more than 150 families of attachments. Other awarded inventors Other NIHF 2023 inductees include Rory Cooper, who invented wheelchair technology; Luis von Ahn, who co-created the website security program reCAPTCHA; Angela Hartley Brodie, who discovered and developed a class of drugs called Aromatase Inhibitors that stop the production of hormones that fuel the growth of cancer cells; and 14 other innovation pioneers. This year marks the 50th anniversary event of NIHF’s founding in 1973, when Thomas Edison was the sole inductee. Acknowledging the award on behalf of his father and uncle, Joe Keller said, “This recognition is a great honour to dad and Cyril’s families, but it is not just for us. It is a recognition for all of the early and current Bobcat employees who have helped bring our little ‘Keller loader’ to be the Bobcat machine it is today. It has been a great honour to have had a front-row seat watching this invention revolutionize the way work gets done around the world.” For more information about Bobcat and Bobcat products, visit the website www.bobcat.com Building, Design & Construction Magazine | The Choice of Industry Professionals
Remortgaging is the process of switching to a new mortgage provider or renegotiating the terms of your existing mortgage with your current lender. You can do this to secure a lower interest rate or to access property equity, which is the difference between the value of the property and the outstanding mortgage balance. For instance, if you’ve built up at least 25k in equity, it could be an excellent time to consider remortgaging for a better interest rate or other reasons. If you need some tips remortgaging after 25k in equity, consider the following: A three-digit number that measures your creditworthiness is your credit score. It’s based on information in your credit report, such as your payment history, credit usage, and length of credit history. Lenders use your credit score to determine the risk of lending you money and to set your mortgage’s terms and interest rate. A good credit score will increase your chances of getting approved for a better mortgage rate, while a low credit score can make it challenging to qualify for a mortgage or result in a higher interest rate. That’s why checking your credit score before considering a remortgage is essential. You can check your credit score for free through several sources, such as credit bureaus, banks, and credit card companies. Some credit card companies offer free credit score access as part of their benefits package. You can also use certain websites to check your credit score. Gather and prepare the necessary documentation beforehand. This includes proof of income, such as pay stubs or tax returns; proof of employment, such as a letter from your employer; and credit history, which can be obtained through a credit report. These documents will be used by the lender to determine your ability to repay the new mortgage and to offer the best possible interest rate. Having these documents ready will make the remortgaging process quicker and smoother. Another crucial decision you’ll need to make is choosing the ideal mortgage rate. A fixed-rate mortgage is a loan in which the interest rate is set for the entire loan term, providing borrowers with stable monthly payments throughout the loan. This type of mortgage is best for those who value predictability in their monthly payments. On the other hand, an adjustable-rate mortgage, or ARM, is a loan where the interest rate can fluctuate based on market conditions. The interest rate is fixed for a certain period—usually 5 or 7 years—after which it can change annually based on the index it’s tied to. This type of mortgage is best for borrowers who are expecting their income to increase in the future and want to take advantage of the lower initial rates. You can use online comparison tools or consult a mortgage broker to compare rates from different lenders. It’s essential to compare the interest rates and other fees associated with the loan, as these can vary significantly between lenders. The fees can include origination fees, points, and closing costs. Factor in the costs associated with the process. These costs can include legal and valuation fees and any fees your current lender charges for switching mortgages. Solicitors or conveyancers typically charge legal fees for handling the legal aspects of the remortgage, such as transferring ownership of the property and preparing the necessary documents. Meanwhile, a professional valuer charges valuation fees to assess the property’s value. These fees can vary depending on the lender and the property’s value, so getting an estimate from your lender or solicitor before proceeding is essential. To calculate the total cost of remortgaging, you’ll need to add up the legal, valuation, and lender fees and any other costs associated with the process. You can then compare the total cost to your potential savings from a lower interest rate. As with any major financial decision, remortgaging requires careful consideration and thorough research. Make sure that remortgaging is the right option for your particular situation. For some homeowners, remortgaging might not be the most cost-effective option, so take the time to assess all of your choices. If you do everything right, remortgaging can be just the solution for you to save money and gain access to additional funds. Conclusion If you plan to remortgage, consult a mortgage broker or financial advisor on how to navigate the process. Also, check your credit score, compare rates and fees, and calculate the costs before making your final decision. Building, Design & Construction Magazine | The Choice of Industry Professionals
Banking is regulated at both the federal and state level. In order to obtain a bank charter, banks must meet certain requirements set forth by banking regulators. By understanding the banking license requirements, you can be sure that your bank meets all of the necessary standards. But when do you need a banking license, and what are the banking license requirements? Read on to find out! When Do You Need A Banking License? 1. Taking Deposits From The Public Companies that take deposits from the public are required to obtain a banking license. This includes banks, credit unions, and other financial institutions that accept customer deposits, such as money market funds and other investment companies. Therefore, if you plan to take deposits from the public, you’ll need to obtain a banking license. 2. Engaging In Lending Activities In addition to taking deposits from the public, financial institutions must also engage in the lending process. For example, companies that lend money must have a banking license. The licensing requirements for this type of financial institution include having the proper insurance coverage and complying with other legal requirements. 3. Buying, Selling, Or Exchanging Securities Financial institutions that buy and sell stocks, bonds, mutual funds, and other investments must have a banking license When buying or selling an asset, a financial institution is called a broker-dealer or an investment bank. Broker-dealers need to be licensed by the Securities and Exchange Commission, while investment banks fall under the supervision of the Financial Industry Regulatory Authority (FINRA). 4. Creating New Financial Products Financial institutions can create financial products by creating and issuing mutual funds, stocks, and other financial instruments. Banks, broker-dealers, and securities firms can do this. Some financial institutions that create their products are called dealer-brokers because they work like stockbrokers, providing financial services to investors. 5. Exchanging Foreign Currency Businesses that exchange foreign currency for clients, either in person or online, are required to obtain a banking license. This includes banks, currency exchanges, money transmitters, and other businesses that exchange foreign currency. What Are The Banking License Requirements? The specific requirements for obtaining a banking license vary by state and type of bank, but they typically include things like: 1. Having a certain amount of capital that meets the regulatory requirements; 2. Having a physical location in the state; 3. Meeting specific record-keeping standards; 4. Applying the relevant regulator; 5. Obtaining approval from shareholders and directors; and 6. Complying with all applicable laws and regulations. By meeting the banking license requirements, banks can be sure that they are operating in compliance with all of the necessary regulations. This helps ensure that banks are stable and able to serve their customers properly. Before applying for a bank charter, aspiring bankers must understand the banking license requirements. It’s also important to note that obtaining a banking license can be lengthy and expensive. The cost and time required to obtain a banking license vary by state and type of bank, but it can take up to several years and cost hundreds of thousands of dollars. However, the investment can pay off in the long run by helping banks provide better service to their customers, Why Choose Surf For Banking Licenses? We have helped thousands of people secure their perfect licenses with accurate banking license requirements, so we know what we’re doing. Surf For Banking Licenses is the only source that makes it easy to apply for banking licenses and get the desired results. You don’t need to visit multiple websites or waste time calling different companies because we provide complete information about the different types of banking licenses. If you have any questions about our banking license services, feel free to contact us today. Building, Design & Construction Magazine | The Choice of Industry Professionals
