PROPERTY TYPE
unencumbered, residential, freehold or long leasehold with vacant possession (shortholds may be permitted)
LOAN to VALUE
at least 70% of the Market Value of the property being purchased
LOAN AMOUNT
£20,000 minimum
LOAN TERM
typically up to 9 months extendable at our option if appropriate
SECURITY
a first legal mortgage over the property being financed and/or other suitable unencumbered property
COSTS
Administration Fee
£350.00 with Loan Application. An at cost valuation fee will also be payable
Arrangement Fee
from a minimum 1.00% of the advance
Interest
from 1.25% per month calculated daily on a 30 day loan period basis and payable at the end of each loan period
Legal Fees
the borrower is responsible for their own AND our legal costs
PENALTIES
no exit fees or early repayment penalties but we do expect to charge
a minimum of 30 days interest.