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                                    Product types Bridging, development finance, BTL and BTL 2nd chargeCharges 1st, 2ndFunding model Capital markets, institutional and private fundingFCA regulated YesInterest rate Bridging: from 1% pmDevelopment: from 6% margin + BBR paBTL: from 5.39% paBTL 2nd charges: from 8.69% paFixed/variable interest BothTreatment of interest & default interestRetained, serviced; Default interest charged at fixed rate; Higher rate capped at 2.5%; Dev finance is rolled interestSectors We lend on all sectors of the property marketMax LTV BTL and BTL 2nd charge: 74%; Bridging: 70%; Development finance: 70%Max LTGDV 65%Max LTC 85%Min & max loan term Bridging: 1-24 months; Dev: 12-30 months; BTL: 5-25 years; BTL 2nd charge: 3-30 yearsMin & max loan size Bridging £75k - £30m; Dev: £1m-£20m; BTL: £50k-£2m; BTL 2nd charge: £10k-£500kMin property value Dev finance min GDV: £1.5m; Bridging finance: £150k; BTL: £125kValuation retypes Yes (not normally permitted on BTL)Rental calculations & exposure BTL: 125% coverage on lower-rate taxpayers and ltd cos; BTL 140% on higher-rate taxpayersGeographical lending areas England, Scotland and Wales; BTL: England and WalesTypes of valuation accepted Red Book and AVM. Full valuations needed for BTLNew builds YesHeavy Refurb Bridging, no; Dev finance, yesGrade listed buildings YesGreen/Sustainable product Available on standard BTLs with an EPC rating of A-CUp to 75% LTV, rates from 6.34% pa, up to £1.5m loan sizePlanning permission needed Bridging, no; Dev finance, yesCommission rate Available from 1%Associations/Charters NACFB, ASTL and FIBA approvedTypes of landlords accepted Ltd, individual, first-time, portfolio and foreign nationals with 1 year’s experienceUpfront fees External valuation fee: £180 application fee and valuation fee for BTLBroker portal YesEarly redemption charges Bridging, no; Dev: no; BTL, product specificInvestment YesOwner occupied YesElectronic signatures accepted YesLending on land YesLender Index | 113
                                
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