Page 71 - The Index

Specialism/USP Speed of service, product choice and price
Charges 1st, 2nd
Funding Various
FCA Regulated Yes
Interest Range From 0.49%
Base Rate N/A
Security Types Residential, buy-to-let, residential investment
Treatment of Interest Retained and serviced – all regulated loans are to be on retained interest basis
Treatment of Default Interest Not charged
Max LTV Regulated and property investor - 90% of purchase price or 75% of valuation, whichever is lower
Max Loan to GDV 75%
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 II – England and Wales, Grade C – Scotland
Mixed Schemes Yes
Planning Permission Needed Depends on product required
Commission Rate From 1% gross
Associations UK Finance, IMLA, AMI, FLA, NACFB, FIBA and The Financial Services Forum
Upfront Fees Only upfront fee is the valuation fee (please see www. precisemortgages.co.uk 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
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