Principle Primary Residence
Regulated bridging loan secured against a borrower's main residence.
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Max LTV:
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70%
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Rates:
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from 0.65%
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Max charge type:
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2nd |
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Location:
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England, Scotland, Wales
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Term:
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12 months
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Interest type:
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Retained
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- Client's / immediate family primary place of residence.
- Evidenced exit strategy from Day 1.
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
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Auction
Where purchasing a fully residential property at auction
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Max LTV:
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70%
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Rates:
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from 0.60%
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Max charge type:
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1st |
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Location:
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England, Scotland, Wales
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Term:
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12 months
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Interest type:
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Retained or serviced
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- Proof of funds/evidence of deposit required
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
- Serviced interest subject to a strict affordability assessment
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Purchase
Where purchasing a residential investment property, any works required are funded by the borrower.
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Max LTV:
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70%
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Rates:
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from 0.65%
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Max charge type:
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1st |
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Location:
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England, Scotland, Wales
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Term:
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12 months
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Interest type:
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Retained or serviced
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- Proof of funds / evidence of deposit required.
- No intention to be used as principle primary residence by the borrower / immediate family.
- HMOs up to 6 beds.
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
- Serviced interest subject to strict affordability assessment
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Refurb / Conversion
Funding structural works, ground-up developments and cosmetic refurb as well as HMO, BTL and PD conversion. |
Development Lite - funding structural works and ground-up developments.
| Max LTV: |
70% (Day 1 LTV)
65% (LTGDV) |
| Rates: |
from 0.80% |
| Max charge type: |
1st |
| Location: |
England, Scotland, Wales |
| Term: |
18 months |
| Interest type: |
Retained |
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- Approval by monitoring surveyor required prior to any drawdowns.
- Cannot be used as a principle primary residence.
- 100% build costs funded, in arrears.
- Experience of similar projects preferable, but not essential.
- Minimum profit margin of 20%
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
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HMO / BTL / PD Conversions
| Max LTV: |
70% (Day 1 LTV)
65% (LTGDV) |
| Rates: |
from 0.70% |
| Max charge type: |
1st |
| Location: |
England, Scotland, Wales |
| Term: |
18 months |
| Interest type: |
Retained |
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- No experience required.
- Typically no monitoring surveyor, but inspections prior to further drawdowns required.
- Can lend up to 100% of works, in arrears.
- All appropriate licenses/permissions required.
- Works to not exceed 15% of GDV.
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
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Cosmetic refurbishment
| Max LTV: |
70% (Day 1 LTV)
65% (LTGDV) |
| Rates: |
from 0.65% |
| Max charge type: |
2nd |
| Location: |
England, Scotland, Wales |
| Term: |
12 months |
| Interest type: |
Retained |
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- Works requiring planning permission or approval not allowed.
- Typically no MS , but inspections prior to further drawdowns required
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
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Development Exit
Funding to bridge the gap between completion of the development and sales being achieved.
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Max LTV:
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70%
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Rates:
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from 0.60%
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Max charge type:
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1st |
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Location:
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England, Scotland, Wales
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Term:
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12 months
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Interest type:
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Retained
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- Practical Completion to have been achieved is preferable.
- Inspection reports from build control and warranty provider to be provided.
- Sales proceeds can be distributed, subject to LTV / credit committee approval.
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
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Refinance
For short term cash flow or refinances of existing charges |
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Max LTV:
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65% (1st charge)
60% (2nd charge)
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Rates:
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from 0.75%
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Max charge type:
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2nd |
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Location:
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England, Scotland, Wales
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Term:
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18 months
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Interest type:
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Retained or serviced
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- Where funds required for a lease extension, extension to happen simultaneous with drawdown of funds.
- Refinancing existing bridging loans by referral only.
- Minimum age – 18
- Minimum loan size - £75k
- Minimum term – 1 month
- Scotland – mainland only
- Serviced interest subject to strict affordability assessment
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