It’s been a while since we’ve posted on this forum (although we do follow it closely). In this time our product has changed significantly. A bit more information on this is below:
• Since July 2015, we have specialised in facilitating residential property bridging and development finance for professional development companies. To be eligible to apply, a borrower should be either a limited company, a partnership of more than 3 persons or an LLP. They need to be established in the UK and to have a UK bank account.
• We have full time regional business development professionals who source new loan opportunities; our own eyes and ears on the ground.
• We use fundamental credit analysis; we do not use algorithms to formulate our lending decisions. This is completed by our Credit Assessment Group - highly experienced property specialists with a track record spanning across numerous property market cycles.
• We use external professional firms to validate costing and valuations.
• We use a panel of specialist property law firms to draft our loan documentation.
• We only offer fully secured facilities with appropriate credit metrics (Max 75% Loan To Value, 65% Loan To Gross Development Value, 75% Loan To Cost).
Please feel free to post any additional questions you may have here and we will of course respond accordingly.
Before making a lending decision, you should ensure that you have sufficient information to ascertain the legal, financial, tax and regulatory consequences of a loan, to enable you to make an informed decision.