Page 81 - The Index
P. 81

Specialism/USP Speed of service, product choice and price
Charges 1st, 2nd
FCA Regulated Yes
Interest Range Bridging from 0.65% pcm
Base Rate/LIBOR (floor rate N/A if applicable)
Security Types Residential, buy-to-let, residential investment
Unacceptable Security Types Commercial usage over 20% (unless the loan is to convert property to 100% residential use); live/work units; specific
construction types
Treatment of Interest – rolled, Retained and serviced – all regulated loans are to be on a
retained, serviced
retained interest basis
Max LTV Regulated - 90% of purchase price or 70% of valuation, whichever is lower; property investor - 90% of purchase price
or 75% of valuation, whichever is lower
Max Loan to GDV 70%
Max Loan to Cost N/A
Min/Max Loan Term Regulated 1-12 months, property investor 1-18 months
Min/Max Loan Size Regulated £50k-no maximum; property investor £50k-no maximum; 2nd charge £25k-no maximum
Geographical Lending Area England, Wales and parts of Scotland
New Builds Yes
Refurbishment Yes
Conversions Yes
Grade Listed Buildings Grade 2 - England and Wales, Grade C - Scotland
Mixed Schemes Yes
Planning Permission Needed Depends on product
Commission Rate From 0.90%
Associations BBA, IMLA, CML, AMI, FLA, NACFB, AOBP
Early Redemption Charges No, interest accrued on a daily basis after the first month
Investment Yes
Owner-occupied Yes
Interest-only Options Yes, applies to all loans
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