Page 107 - Demo
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                                    Product types Bridging, development, residential mortgages, remortgages and BTLCharges 1st, 2ndFunding model Deposit fundedFCA regulated YesInterest range Bridging Rates from 0.84%, structured bespoke and development – project dependent Fixed/variable interest Bridging & BTL are fixed, development is variableTreatment of interest & default interestRolled, retained and serviced; Default interest charged at a fixed rate; Higher rate capped at 2.5%Sectors Residential or Residential led mixed-use, HMO, MUB, semicommercial, commercialMax LTV Residential 85%, BTL 80%, Bridging 70%Max LTGDV Bridging 75%, development project dependant up to 65%Max LTC Development 90%Min & max loan term Bridging 1–24 months; Dev up to maximum 36 months; BTL 5–25 yearsMin & max loan size Bridging £125k-£15m; structured £1m+; development £1m-30m, BTL £1.5mMin property value £125k for bridging, £100k for BTLValuation retypes Can be considered, case-by-caseRental calculations & exposure BTL – ICR calculation – 125%/130% or 140% depending on tax band using the 5y fixed pay rate or 2y fixed+2%. Exposure with UTB BTL is max £5m or 20 loans to a single borrower(s) or Ltd Co entityGeographical lending areas England, Wales and Scotland. Development & BTL are England and Wales onlyTypes of valuation accepted AVMs, short and long form, re-types for bridging. BTL is physical valuation only New builds YesHeavy Refurb Yes (development finance)Grade listed buildings YesGreen/Sustainable product NoPlanning permission needed YesCommission rate Varies by product bridging – please call to discussAssociations/Charters ASTL/FIBA/NACFBTypes of landlords accepted Professional & amateur, BTL also caters for first-time landlords but applicant must already own a residential propertyUpfront fees Valuation and legal for bridging Broker portal Yes for bridging & BTLEarly redemption charges No for Bridging; Yes for BTLInvestment YesOwner occupied Yes for Bridging, No for BTL & DevelopmentElectronic signatures accepted Yes, for certain itemsLending on land UTB Bridging will consider land with planning permission granted; UTB BTL will not lend against land aloneLender Index | 107
                                
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