RATES & PRODUCTS -
| OVERALL OFFERING: |
|
| Types of loans offered |
Bridging, Light Development & New Bridge-to-Let |
| Draw-down loans? |
Yes - all charges per draw-down not on facility |
| Area covered |
England and Wales |
| Security types |
1st charge |
| Property types |
Resi, HMO's, Prime Semi Comm & Commercial |
| Acceptable Commercial |
Prime – E & B8 |
| Max LTV |
75% LTV Residential and 70% commercial |
| Minimum loan |
£200k net |
| Maximum loan |
£10m net |
| Borrower type |
Employee, Sole trader, LLP, Partnership & Ltd |
| Borrower residency |
Foreign and UK accepted |
| Our turn around |
Sub 10 working days |
| Valuation basis |
OMV 180 day Resi & Mixed & VP 90 Commercial |
| Introducer commission |
1-2% (dependent on volume) |
| OUR PRODUCT TERMS: |
|
| Interest rates |
From 0.59% (see PDF) |
| Interest method |
Retained |
| Loan term |
10-24 months |
| Early redemption charge? |
None |
| Interest rebate on early repayment? |
Yes (subject to 3 months minimum) |
| Exit fee? |
1 months interest |
| Potential extension of concessionary rate? |
Yes (discretionary - 2 months maximum) |
| Extension of term on same rate as last month's? |
Yes - 2 months over max LTV interest rolled |
| Arrangement fee |
2.00% |
| ADDITIONAL FEES: |
|
| Valuation fee (charged at cost – paid direct) |
By estimated property value |
| Legal fees (charged at cost – retained) |
See PDF |
| Title insurance & processing fee (retained) |
See PDF (subject to receipt of the loan) |
| Admin fee (retained) |
£375 (subject to receipt of the loan) |
ADDITIONAL FEE TABLES – DOWNLOADABLE PDF
OUR TERMS AND CONDITIONS – DOWNLOADABLE PDF
PRIVACY STATEMENT – DOWNLOADABLE PDF
OUR TERMS OF BUSINESS – DOWNLOADABLE PDF
LOAN TYPES OFFERED (ALL UNREGULATED):
- 1st charge - investment property, purchase.
- 1st charge - investment property, refinance.
- 1st charge – investment property, lease extension.
- 2nd charge - investment property (subject to our having a 1st charge).
- 1st charge - refurb (light, heavy, medium).
- 1st charge - commercial or mixed use property.
EXAMPLE LOAN PURPOSES:
- To exit a development loan
- To help purchase and refurbish a property
- To help complete the purchase of an auction property
- To purchase a property to add a property to a buy to let portfolio
- To help fund an urgent liability such as a tax bill
- To provide funds needed for a business or investment purposes
- To help purchase a lease extension
