Page 85 - Demo
P. 85


                                    Product types Unregulated bridging, BTL, commercial investment and dev financeCharges 1st (2nd charge considered as additional security up to 100% of purchase price)Funding model BankFCA regulated YesInterest range Unregulated bridging from 0.79% pm; BTL from 6.39%; Commercial investment from 7.14%; Development finance on case-by-case basisFixed/variable interest Fixed and variable interest options availableTreatment of interest and default interestN/ASectors Residential, semi-commercial property, offices and Industrial unitsMax LTV BTL: 75%; Semi-commercial: 70%; Commercial: 60%; Up to 85% available on unregulated residential bridging with light refurb to fund cost of worksMax LTGDV 65%; Dev finance: 65% for new build, 70% for refurbishment (both subject to 85% LTC)Max LTC 85%Min and max loan term BTL: 3-30 years; Commercial investment: 3-25 years; Dev finance: 1-36 months; Unregulated bridging 1-24 monthsMin and max loan size Unregulated bridging: £50k-£25m; BTL: £40k-£25m; Commercial investment: £500k-£25m; Dev finance: £500k-£30mMin property value £75k minimum property value but exceptions considered on portfoliosValuation retypes Considered by exceptionRental calculations and exposureDependent upon product and borrower. Cover ratios from 125% and pay-rate affordability calculations for fixed rates of five years or moreGeographical lending areasEngland, Scotland and WalesTypes of valuation acceptedAVMs and standard valuationsNew builds YesHeavy Refurb Yes (unregulated bridge or development finance facility)Grade listed buildings 2/B onlyGreen/sustainable productBTL energy efficiency discount: up to 60bps off the arrangement fee for properties with EPC rating of at least CPlanning permission neededYesCommission rate 0.75-1.95%Associations/Charters NACFB, ASTL, IMLA, CML, UK FinanceTypes of landlords acceptedIndividual, partnership, LLP and ltd co alongside first-time landlordsUpfront fees N/A Broker portal Yes, Broker hub: BTL, commercial, bridgingEarly redemption chargesZero for unregulated bridging; Up to 7% for BTL and commercial investment; Dev finance—exit fees applyInvestment YesOwner occupied NoElectronic signatures acceptedYes, BTL and commercial investmentLending on land NoLender Index | 85
                                
   79   80   81   82   83   84   85   86   87   88   89