Page 11 - The Index
P. 11

         Specialism/USP Lend against OMV rather than purchase price
  Charges 1st
  Funding Shareholder and bank
  FCA Regulated No
  Interest Range From 0.65%
  Base Rate N/A
  Security Types Residential and semi-commercial
  Treatment of Interest Rolled
  Treatment of Default Interest Default rate varies, up to a max 3%, and is rarely enforced
  Max LTV 80%
  Max Loan to GDV 75%
  Max Loan to Cost N/A
  Min/Max Loan Term 3-18 months
  Min/Max Loan Size £100k-£2m
  Geographical Lending Area England and Wales
  New Builds Yes – limited LTV
  Refurbishment Yes
  Conversions Yes
  Grade Listed Buildings Yes
  Mixed Schemes No
  Planning Permission Needed Yes
  Commission Rate 1-2%
  Associations ASTL, NACFB, FIBA
  Upfront Fees No
  Early Redemption Charges No – minimum 3 months’ interest
  Investment Yes
  Owner-occupied No
  Interest-only Options Yes
  The Index | 11

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