Page 81 - The Index
P. 81

                                                  Specialism/USP Speed of service, product choice and price
  Charges 1st, 2nd
  Funding Various
  FCA Regulated Yes
  Interest Range Bridging from 0.49% pcm
  Base Rate N/A
  Security Types Residential, buy-to-let, residential investment
  Unacceptable Security Types Commercial usage over 20% (unless the loan is to convert property to 100% residential use); live/work units; specific
construction types
  Treatment of Interest Retained and serviced – all regulated loans are to be on a retained interest basis
  Max LTV Regulated - 90% of purchase price or 70% of valuation, whichever is lower; property investor - 90% of purchase price
or 75% of valuation, whichever is lower
  Max Loan to GDV 70%
  Max Loan to Cost N/A
  Min/Max Loan Term Regulated 1-12 months, property investor 1-18 months
  Min/Max Loan Size Regulated £50k-no maximum; property investor £50k-no maximum; 2nd charge £25k-no maximum
  Geographical Lending Area England, Wales and parts of Scotland
  New Builds Yes
  Refurbishment Yes
  Conversions Yes
  Grade Listed Buildings Grade 2 - England and Wales, Grade C - Scotland
  Mixed Schemes Yes
  Planning Permission Needed Depends on product
  Commission Rate From 1.00% (Gross)
  Associations UK Finance, IMLA, AMI, FLA, NACFB, FIBA and The Financial Services Forum.
  Upfront fees Valuation fees (please see for further information)
  Early Redemption Charges No, interest accrued on a daily basis after the first month
  Investment Yes
  Owner-occupied Yes
  Interest-only Options Yes, applies to all loans
  The Index | 81

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