HEAVY REFURBISHMENT
LIGHT DEVELOPMENT LOAN
From 0.79% pm up to 65% net LTV
From 0.84% pm up to 70% net LTV
From 0.89% pm up to 75% net LTV
+100% cost of works funded in arrears up to 85% gross LTC
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Build costs up to 100% of the OMV up to 75% LTGDV
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£100,000 to £3,000,000
Example uses:
Heavy refurbishments (CoW <100% of OMV)
Conversion to residential / HMO
Finish and exit
Property characteristics:
First charge, unregulated loans only
Up to 18 months loan term
Across England and Wales
Adverse credit history considered
Property characteristics:
First charge unregulated loans
Residential and commercial properties
Adverse credit history considered
Across England and Wales
INTEREST RATE
From 0.59% up to 60% LTV
From 0.69% up to 75% LTV
Interest can be paid monthly (in full or in part) or retained upfront
LOAN SIZES
£100,000 to £10,000,000
Larger loans considered upon application
LOCATIONS
Across England and Wales
LOAN TERMS
3 to 24 months
KEY INFORMATION
Swipe across for key product information
INTEREST RATES
LOAN SIZES
LOAN TERMS
LOCATIONS
3 to 24 months
Across England and Wales
£200,000 to
£5,000,000
From 0.79% up to 65% LTV
From 0.84% up to 75% LTV
1
INTEREST RATES (ROLLED)
From 0.79% up to 65% net LTV
From 0.84% up to 70% net LTV
From 0.89% up to 75% net LTV
1
(1.5% broker commission)
(2% broker commission)
From 0.84% up to 65% net LTV
From 0.89% up to 70% net LTV
From 0.94% up to 75% net LTV
(2% broker commission)
LOAN SIZES
£100,000 to £3,000,000
​
+100% cost of works funded in arrears up to 85% gross LTC
​
Build costs up to 100% of the OMV up to 75% LTGDV
LOAN TERMS
12 to 18 months
LOCATIONS
Across England and Wales
PERMITTED USES
FEES & CHARGES
PDR schemes
Heavy property refurbishment and extension
Property conversion to residential/HMO
Arrangement fee: 2%
Broker commission: From 1.5% (taken from the arrangement fee)
Exit fee: None
Early Repayment Charge: None (interest rebated on a daily basis for loans repaid after the 3rd month)
Legal fees: At market rate, provided upon application
4
Valuation fee: At market rate, provided upon application
3
Finish and exit
2
PROHIBITED USES
1. Reductions in interest rates are available for larger loans on a case-by-case basis. Pricing indicated for rolled interest loans only. Net LTV is calculated using the net loan amount divided by the lower of the purchase price and valuation. Valuation is typically the OMV, although other measures may be used on a case-by-case basis. Higher LTVs are available with the provision of additional security (first charge basis). | 2. Must be wind and watertight. | 3. To be paid upfront. | 4. Legal fees will be deducted from the loan amount. Your lawyer will be required to provide our lawyer with an upfront undertaking to pay all legal fees in full.
This does not constitute an offer of financing. Heads of Terms and Loan Agreements will be provided by Funding 365 Limited on a case-by-case basis. Funding 365 Limited reserves the right to amend, suspend or terminate this product at any time and without notice.
YOUR PROPERTY MAY BE AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Ground up developments and land
Agricultural property
Properties with adverse environmental conditions
Owner occupied properties
PRODUCT CHARACTERISTICS
Securities: Residential properties in England and Wales. Semi-commercial properties (where the commercial element is less than 35% of the total property value) are also considered
Borrowers: UK nationals and UK limited companies. Foreign nationals with a solid UK credit footprint and borrowers with adverse credit history are also considered on a case-by-case basis
Borrower experience: First time borrowers considered up to 65% net LTV. Above this LTV, borrowers must have recent experience of completing 2 similar refurbishment projects