Pragmatic and straightforward commercial approach

by Malcolm Jones

14:50 PM, 23rd October 2018
About 2 months ago

Pragmatic and straightforward commercial approach

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Pragmatic and straightforward commercial approach

The commercial, Buy to Let, Development and Bridging finance market is maturing and developing to match the needs of the new more professional property investor post credit crunch.

Some of the commercial lenders we now work with are taking a far more pragmatic, straightforward and commercial approach looking at projects much more on their individual merits as well as expanding criteria.

Through pre-planning, to development and exit, lenders are trying to meet investors funding requirements while cutting back the cost and complication of refinancing with transition products on to long term mortgages.

Examples of new BTL lending criteria includes:

Loan amounts up to £750k for 75% Loan to Value and £500k for 80% LTV

If a limited company is purchasing from the individual director(s), the existing equity is acceptable as the deposit in the form of a Director’s Loan Account(s).

Faster completions with dual legal representation reducing average  completion times to 18 days. along with free title insurance for standard residential and HMO remortgages with £100 valuation fees on single lets.

3.89% 5 Year fixed rates at 80% LTV with a 1% product fee or 4.1% with no fee.

Remortgaging if the property has been owned for less than 6 months will be considered with a valid explanation.

For HMOs of 7 rooms or more, the valuation is based upon the investment value.

If you require assistance with any type of property finance please complete the contact form below and my team will be happy to help.

Contact Malcolm Jones

Commercial Finance, Development Funding and Bridging Finance
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