We provide finance facilities for property developers and investors.
Our lending is focused on residential property, purchase for investment, light refurbishment all the way through to heavy refurbishment as well as new build. We’ll look at semi-commercial too, typically ground floor commercial with residential upper parts. Also pure commercial where there is the intention to convert to residential, we have completed several transaction of this type under the current permitted development rules.
Geographically we tend to stay within the M25 and all the way into Kent and Sussex. Having said that it’s not set in stone so talk to us, you’ll always get a quick response either way, yes or no.
Typically we will go up to around 75% net, i.e. interest rolls up in addition to that. Lower ltv’s tend to attract our lower charging rates though. Once again this is not set in stone and we can sometimes be more aggressive with LTV’s if we can get really comfortable with the proposition.
It generally doesn’t make practical sense to write a loan for less than £100,000, our typical range is £100,000 to around £1,500,000. However, we have the capability of writing much larger loans should we find the proposition attractive enough.
We normally charge an arrangement fee of up to 1% and our interest rates range from 0.9% to around 1.35% per month. We rarely charge an exit fee but if we do it’s not normally in excess of 1%. Any exit fee is based on the loan amount as opposed to the GDV (Gross Developed Value)
Rarely, we try to keep our arrangement fees low so that our fee doesn’t impact on the introducer’s ability to secure a fee with their client. Feel free to talk to us on this point.
They are calculated on scale according to purchase price/value and are very competitive.
Our legal costs vary according to the transaction. We will always provide you with an estimate of costs for your particular deal. The borrower is responsible for our legal costs as well as their own.
Unfortunately not, the borrower must be separately represented.
Our lending is typically secured by first legal mortgage, however from time to time we make some 2nd charge funding lines available, please ask.
Our loans are written for an initial maximum term of 9 months, however we can renew or extend if appropriate.
We are a principal lender, we have no investors, we do not borrow money to lend. We’ve been lending for more than 30 years and we have only two shareholders who are the working directors, there are no other interested parties.
Yes, we will, provided that we are comfortable with the overall proposition.
We always interview the borrower to get a clear understanding of the project and the person and base our decisions to lend on that, subject to valuation and legal due diligence.
We always require a borrower so bring some financial contribution to the deal regardless of price/value. However, we will take any differential into account.
We would normally give you an indication of our terms within the hour and get into process immediately if necessary, we understand that there is often time pressure in these transactions.
