Our Products

Security

We consider 1^st, 2^nd and 3^rd charge on residential owner-occupied and investment properties. We will also 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-ups to complete builds.

We offer short-term bridging loans for both England and Wales.

Borrower

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 age restrictions, but do require clients aged seventy and over to receive ILA.

Valuation

We have no minimum valuation, but 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, automated valuations or our own visual inspection. However, where a valuation is required, this will be the only upfront cost we charge.

Regulation

We consider all loan applications which fit the definition of an ‘exempt’ agreement. We cannot consider advances regulated by the FSMA or CCA.

Legal Fees

We are one of the very few bridging lenders that complete 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 added to the advance.

Interest

We work on a ‘roll-up’ method, with no servicing of the loan required. However, part redemptions of any size can be made at any point during the course of the agreement without penalty. We do not retain interest.

Maximum Age

We have no maximum age for bridging loan clients, though we do require applicants over seventy years of age to seek independent legal advice.

Adverse Credit

We are a mortgage lender that considers all adverse credit, except outstanding bankruptcies.

Affordability

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.

Current Mortgagees

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).

Early Repayment Charges

Early part-repayments can be made at any point with no penalty. For early full redemptions, one month’s extra interest is charged.

Default Rates

We do not charge any additional rate on term expiry. The contractual rate continues to apply. There is a forbearance agreement charge of £150, and an arrears management fee of £250 per month, for up to three months maximum.