Page 87 - The Index
P. 87

         Specialism/USP Lending solutions for professional property developers and investors
  Charges 1st
  Funding Retail savings bank
  FCA Regulated Yes
  Interest Range From 0.43%pcm (short-term), from 2.99% (term) 4.40% (commercial term), 4.10% (semi-commercial term), 4.90%
(business))
  Base Rate LIBOR floor 0.75%
  Security Types Resi, commercial, owner-occupied, trading businesses
  Unacceptable Security Types Agricultural, land, leisure, pubs, recreational, clubs, care homes, holiday parks, freehold flats
  Treatment of Interest Rolled, retained, serviced
  Max LTV 75% (85% refurbishment)
  Max Loan to GDV N/A
  Max Loan to Cost 70%
  Min/Max Loan Term Short-term 1-24 months, term 3-30 years, businesses 10-20 years
  Min/Max Loan Size Short-term £50k-£15m, term <£15m, businesses <£2.5m
  Geographical Lending Area England, Wales and Scotland
  New Builds Yes
  Refurbishment Yes – short-term and resi refurb only
  Conversions Yes – short-term and resi refurb only
  Grade Listed Buildings Yes – except Grade 1/A
  Mixed Schemes Yes
  Planning Permission Needed Yes
  Commission Rate Short-term 1.5%, term 0.75-1%
  Associations NACFB, ASTL
  Upfront fees Yes
  Early Redemption Charges Yes
  Investment Yes
  Owner-occupied Yes
  Interest-only Options Yes
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