We pride ourselves on being very different, filling a niche in the market to complement your existing providers of short term finance. Genuine USP’s include No limit on bad credit, small loans welcome, no age limits, no first mortgagee consent required and no solicitors in most cases. Completing the more straight forward application without the need for solicitor involvement. Simpler, quicker, cheaper.
| HFBS 1 | HFBS 2 | |
|---|---|---|
| LOAN | £50 – £300,000 | £5 – £49,999 |
| LTV (O.M.V) | 65% | 70% |
| RATE | 0.95% – 1.5%* | 1.25% – 2% |
| TERM | 3 – 18 months† | 3 – 18 months† |
| CHARGE | 1st or 2nd | 1st, 2nd or 3rd |
| ALLOWABLE BROKER FEE | Up to 10% Max £7,500 | Up to 15% Max £7,500 |
| * 0.95% applies to residential buy to let property rates for commercial ,semi-commercial and land start at 1.1% mth † maximum term 12 months when securing on a clients own home |
||
We generally consider 1st, 2nd and 3rd charge on residential owner occupied and investment property however we will consider land, commercial and semi-commercial on an individual basis. We do not lend on ‘ground up’ development but will consider heavy refurbishment and top up’s to complete builds.
We lend in England and Wales and have no geographical bias for the South East.
In order to avoid the use of solicitors we lend to individuals only. We do not lend to limited companies, trusts or other corporate bodies.
We have no minimum valuation however we may restrict LTV on lower value properties. In many cases, to keep your clients costs to a minimum we will consider using existing valuations(done within the last 12 months), estate agent sales particulars, automated valuations or our own visual inspection however, where a valuation is required, this will be charged at cost.
We consider all applications which fit the definition of an ‘exempt’ agreement. We cannot consider advances regulated by the FSMA or CCA.
We are the only bridging lender that completes the majority of cases with NO requirement for solicitors on either side. We charge a flat rate legal and documentation fee of £1,295 for handling legals in house. This is generally added to the advance.
Interest can be serviced or ‘rolled up’ depending on the clients preference. Part redemptions during the course of the agreement are accepted without penalty. We do not retain interest.
We have no maximum age though applicants over 70 years of age may need independent legal advice.
We will consider all adverse credit except outstanding bankruptcies.
We do not generally require any evidence of income though this will be considered if the client is relying upon refinance to repay us. We simply require a reasonable exit strategy.
We will lend behind any recognised first mortgage lender but not private charges. Where consent is refused we will consider lending on an agreed notice (without consent).
We will lend behind any recognised first mortgage lender but not private charges. Where consent is refused we will consider lending on an agreed notice (without consent).
We do not charge any additional rate on term expiry. The contractual rate continues to apply.
