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  • Funding 365 completes complex £3m semi-commercial bridging loan

    Funding 365 completes complex £3m semi-commercial bridging loan Funding 365 partnered with finance brokerage Kalms Property Finance to deliver a £3million semi-commercial bridging loan secured against a commercial unit and a residential mews house in London. The loan enabled the client to exit a development loan which they had used to build the commercial property on land adjacent to the existing house. It also provided them with short-term cashflow to allow them to focus on letting the commercial space and refurbishing the residential property. The Funding 365 team met with the borrower on site to discuss the proposal and oversee the valuation 2 days after the valuation was instructed, and the loan was executed within 10 days to meet their deadline. Despite the commercial unit being part vacant post works and the mews house being fully vacant and requiring refurbishment, Funding 365 delivered an interest rate of 0.85%pm at 67% net LTV. The planned exit route for the loan is via a restructure of the client's large property portfolio and refinance of other unencumbered assets. Paul Weitzkorn, director at Funding 365 comments, ”The smooth execution of this complicated loan was down to great teamwork from all parties involved - borrower, broker, lender, surveyors and lawyers. Funding 365’s bridging loan terms are always credit-backed, so even when complexities present at the due diligence stage we are able to stay commercially minded and deliver the required funds to the client at a highly competitive rate.”. Samuel Kalms, director at Kalms Property Finance adds, “It was a pleasure working with Funding 365 on this refinance. Their process and turnaround time coupled with experience and dealing with decision makers was extremely valuable and enabled us to deal with a number of last minute hurdles to get the loan over the line within the tight timeframe.”

  • Development finance on a bungalow ready for demolition

    DEMOLITION AND CONSTRUCTION CASE STUDY £1,230,000 0.89% PM + 1% EXIT 60% LTV / 62% LTGDV / 83% LTC The brief Our solution Underwriter quote With planning secured to demolish the bungalow, we stepped in to refinance the lender and craft a bespoke 15-month loan, complete with £720,000 in further advances to construct a three-bedroom dwelling. The client required a development loan to demolish a bungalow in London and construct a two storey, three-bedroom dwelling in its place. The prime location of the project, coupled with the excellent cooperation of both the broker and developer on the case made this a straightforward project that promises to deliver considerable uplift to the property. BACK TO PROJECTS BACK TO PROJECTS

  • Development finance to build terraced house

    REFINANCE AND FUNDRAISE CASE STUDY £510,000 0.95% PM + 1% EXIT 60% LTV / 70% LTGDV / 83% LTC The brief Our solution Underwriter quote We worked hard to ensure a seamless migration over to our development facility, building in £300,000 in further advances so that the developer could get started right away. Our client took out a bridging loan on an end terrace house in Chelmsford with us and sought planning to develop an additional terraced house adjacent to the property. With this in place, they needed to refinance onto a development loan. This case demonstrates the unique strength of our product range. In addition to being highly flexible, our loans are bespoke, ensuring a smooth transition from one phase of a project to another. This allows the developer to focus on doing what they do best. I'm excited to see this project completed and look forward to working with this client in the future. BACK TO PROJECTS BACK TO PROJECTS

  • Flexible Bridging and Development products | From 0.89% | Funding 365

    VIEW OUR PROJECTS We specialise in highly competitive, unregulated bridging, refurbishment, development and 3-5 year loans secured against a wide range of properties across England, Wales and Northern Ireland. ​ See below for information on each of our flexible products, or alternatively contact one of our dedicated underwriters directly on 0800 689 0650 or underwriting@funding-365.com PRODUCT INTEREST RATE LOANSIZE LOANTERM EXAMPLEUSES VIEWGUIDE LTV RESIDENTIALBRIDGE Fr om 0.59% per mo n th F r om 0.69% per mo n th Up t o 60% Up t o 75% £100,000t o £10 million 3 t o 24 mo n ths ​ Pr operty pu r chase (including a t auction) R e furbishme n t D e v elopme n t Exit P or tf olio c onsolid at ion STEPPED RATEBRIDGE 0.59% pm f or the fi r s t 6 mo n ths 1.2% pm f r om mo n th 7 £10 million 3 t o 18 mo n ths Buying or r e financing r eside nt ial p r operty R e furbishme n t D e v elopme n t Exit Short t erm c ash fl o w r equi r eme n ts Up t o 75% Fr om 0.64% per mo n th F r om 0.69% per mo n th LIGHT DEVELOPMENT LOAN Up t o 65% (d a y one) Up t o 75% (d a y one) £5 million 3 t o 24 mo n ths PDR schemesHe a v y r e furbishme n t p r ojects P r operty c o n v e r sion t o r eside n tial Finish and e xit Fr om 6.74% per annum Up t o 75% 3 YEAR LOAN £10 million 36 mon ths Cr edit r epair Chan g e of use Business s t abilis a tion COMMERCIALBRIDGE Fr om 0.59% per mo n th Up t o 75% £100,000t o £10 million 3 t o 24 mo n ths ​ Pr operty pu r chase (including a t auction) R e furbishme n t R e financing of m a turing de b t W orking c api t al f or y our business PRODUCTS TRANSPARENT, FLEXIBLE, BESPOKE DEVELOPMENT From 0.93% pm up to 70% LTV / 65% LTGDV / 85% LTC £250,000 to £1.5 million loan size 3 to 18 months loan term Example uses: Ground up development Finish and exit (Not wind and water tight) VIEW GUIDE 3-5 YEAR LOAN From 7.79% per annum up to 75% LTV for 3 years From 7.49% per month up to 75% LTV for 5 years £200,000 to £2 million loan size 36-60 months Example uses: Buy to Let Portfolio consolidation Credit repair VIEW GUIDE VIEW OUR PROJECTS PROCESSES UNIQUELY SEAMLESS RESIDENTIAL BRIDGE From 0.74% pm up to 65% LTV From 0.79% pm up to 70% LTV From 0.84% pm up to 75% LTV ​ ​ ​ £200,000 to £5 million loan size 3 to 24 months loan term Example Uses: Property purchase (including at auction) Refurbishment Development Exit Portfolio consolidation VIEW GUIDE STEPPED RATE BRIDGE From 0.49% pm up to 65% LTV (6 months) From 0.55% pm up to 70% LTV(6 months) From 0.59% pm up to 75% LTV(6 months) ​ 1.15% pm from month 7 ​ 1.15% exit fee £200,000 to £5 million loan size 3 to 12 months loan term Example Uses: Property purchase (including at auction) Development exit ​ VIEW GUIDE VIEW GUIDE LIGHT REFURBISHMENT From 0.74% pm up to 65% LTV From 0.79% pm up to 70% LTV From 0.84% pm up to 75% LTV ​ ​ ​ £200,000 to £5 million loan size 3 to 24 months loan term Example Uses: Loft conversion Internal decoration and refurb Property conversion to resident ​ ​ LIGHT DEVELOPMENT From 0.64% pm up to 65% LTV (day one) From 0.69% pm up to 75% LTV (day one) £5 million loan size 3 to 24 months loan term Example Uses: PDR schemes Heavy refurbishment projects Property conversion to residential Finish and exit VIEW GUIDE 3 YEAR LOAN From 6.74% per annum up to 75% LTV ​ ​ £100,000 to £10 million loan size 36 months Example Uses: Credit repair Change of use Business stabilisation VIEW GUIDE PROJECTS We provide funding for projects across all of England and Wales You can read about a few of our cases by clicking the button below. VIEW PROJECTS VIEW GUIDE STEPPED RATE BRIDGE 0.59% pm up to 75% LTV Loans of up to £10 million 3 to 18 months loan term Example uses: Buying or refinancing residential property Refurbishment Development exit Short term cash flow requirements LIGHT DEVELOPMENT From 0.64% pm up to 65% LTV (day one) From 0.69% pm up to 75% LTV (day one) £5 million loan size 3 to 24 months loan term Example Uses: PDR schemes Heavy refurbishment projects Property conversion to residential Finish and exit VIEW GUIDE STEPPED RATE BRIDGE 0.59% pm up to 75% LTV Loans of up to £10 million 3 to 18 months loan term Example uses: Buying or refinancing residential property Refurbishment Development exit Short term cash flow requirements VIEW GUIDE 3 YEAR LOAN From 6.74% pa up to 75% LTV £100,000 to £10 million loan size 36 months Example Uses: Credit repair Change of use Business stabilisation VIEW GUIDE PROJECTS We provide funding for projects across all of England and Wales You can read about a few of our cases by clicking the button below 3 to 18 months loan term Example uses: Buying or refinancing residential property Refurbishment Development exit Short term cash flow requirements VIEW PROJECTS PRODUCTS TRANSPARENT, FLEXIBLE, BESPOKE NORTHERN IRELAND BRIDGE From 0.84% up to 65% LTV £100,000 to £2 million loan size up to 18 months Example Uses: Property purchase (including at auction) Refurbishment Development Exit Portfolio consolidation VIEW GUIDE COMMERCIAL BRIDGE From 0.99% pm up to 65% LTV £200,000 to £2 million loan size 3 to 24 months loan term Example Uses: Property purchase (including at auction) Refinancing of maturing debt Working capital for your business ​ ​ VIEW GUIDE HEAVY REFURBISHMENTS From 0.89% up to 70% LTV From 0.94% up to 75% LTV £100,000 to £5 million loan size 3 to 24 months loan term Example Uses: PDR schemes Heavy refurbishment and extension Property conversion to residential / HMO Finish and Exit VIEW GUIDE RESIDENTIAL BRIDGE From 0.74% pm up to 65% LTV From 0.79% pm up to 70% LTV From 0.84% pm up to 75% LTV £200,000 to £5 million loan size 3 to 24 months loan term Example uses: Property purchase (including at auction) Development exit Portfolio consolidation VIEW GUIDE COMMERCIAL BRIDGE From 0.99% pm up to 65% LTV £200,000 to £2 million loan size 3 to 24 months loan term Example uses: Property purchase (including at auction) Refinancing of maturing debt Working capital for your business VIEW GUIDE HEAVY REFURBISHMENT 0.89% pm up to 70% LTV 0.94% pm up to 75% LTV £200,000 to £5 million loan size 3 to 24months loan term Example uses: PDR schemes Heavy property refurbishment and extension Property conversion to residential / HMO Finish and exit VIEW GUIDE BRIDGE TO 3 YEAR From 6.74% pa up to 75% LTV £100.000 to £10 million loan size 36 months Example Uses: Credit repair Change of use Business stabilisation VIEW GUIDE 3-5 YEAR LOAN From 9.99% pa up to 70% LTV £100,000 to £2 million loan size 36 to 60 months loan term Example uses: Credit repair Change of use Business stabilisation VIEW GUIDE VIEW OUR PROJECTS DEVELOPMENT From 0.93% pm up to 70% LTV (day one) £250,000 to £1.5 million loan size 3 to 18 months loan term Example uses: Ground up development Finish and exit HMO and holiday lets accepted ​ VIEW GUIDE LIGHT REFURBISHMENT From 0.74% pm up to 65% LTV From 0.79% pm up to 70% LTV From 0.84% pm up to 75% LTV £200,000 to £5 million loan size 3 to 24 months loan term Example uses: Loft conversion Internal decoration and refurbishment Property conversion to residential / HMO Construction of one storey extension VIEW GUIDE NORTHERN IRELAND BRIDGE From 0.84% pm up to 65% LTV £100,000 to £2 million loan size up to 18 months Example Uses: Property purchase (including at auction) Refurbishment Development Exit Portfolio consolidation VIEW GUIDE STEPPED RATE BRIDGE From 0.49% pm up to 65% LTV From 0.55% pm up to 70% LTV From 0.59% pm up to 75% LTV for the first 6 months ​ 1.15% pm from month 7 ​ 1.15% exit fee £200,000 to £5 million loan size 3 to 12 months loan term Example Uses: Property purchase (including at auction) Development exit VIEW GUIDE RESIDENTIAL BRIDGE From 0.89% pm up to 70% LTV From 0.94% pm up to 75% LTV £100,000 to £10 million loan size 3 to 24 months loan term Example uses: Property purchase (including at auction) Refurbishment Development exit Portfolio consolidation VIEW GUIDE STEPPED RATE BRIDGE From 0.80% pm up to 75% LTV ​ £100,000 to £5 million loan size 3 to 18 months loan term Example uses: Buying or refinancing residential property Refurbishment Development exit Short term cash flow requirements VIEW GUIDE COMMERCIAL BRIDGE From 0.99% pm up to 65% LTV £100,000 to £10 million loan size 3 to 24 months loan term Example uses: Property purchase (including at auction) Refinancing of maturing debt Work capital for your business - VIEW GUIDE RESIDENTIAL BRIDGE From 0.74% pm up to 65% LTV From 0.79% pm up to 70% LTV From 0.84% pm up to 75% LTV £200,000 to £5 million loan size 3 to 24 months loan term Example uses: Property purchase (including at auction) Development exit Refinancing residential property Short term cash flow requirements VIEW GUIDE LIGHT REFURBISHMENT From 0.74% pm up to 65% LTV (day one) From 0.79% pm up to 70% LTV (day one) From 0.84% pm up to 75% LTV (day one) £200,000 to £5 million loan size 3 to 24 months loan term Example uses: Loft conversion Internal decoration and refurbishment Property conversion to residential/HMO Construction of one story extensions VIEW GUIDE STEPPED RATE BRIDGE From 0.49% pm up to 65% LTV for 6 months From 0.55% pm up to 70% LTV for 6 months From 0.59% pm up to 75% LTV for 6 months 1.15% pm from month 7 ​ 1.15% exit fee £200,000 to £5 million loan size 3 to 12 months loan term Example uses: Property purchase (including at auction) Development exit Refinancing residential property Short term cash flow requirements VIEW GUIDE HEAVY REFURBISHMENT From 0.89% pm up to 70% LTV (day one) From 0.94% pm up to 75% LTV (day one) £200,000 to £5 million loan size 3 to 24 months loan term Example uses: PDR schemes Heavy refurbishment projects Commercial conversion to residential Finish and exit VIEW GUIDE COMMERCIAL BRIDGE From 0.99% up to 65% LTV ​ £200,000 to £2 million loan size 3 to 24 months loan term Example uses: Property purchase (including at auction) Refinancing of maturing debt Working capital for your business ​ VIEW GUIDE NORTHERN IRELAND BRIDGE From 0.84% up to 65% LT £100,000 to £2 million loan size 3 to 18 months loan term Example uses: Property purchase (including at auction) Development exit Refinancing residential property Short term cash flow requirements Refurbishments VIEW GUIDE 3-5 YEAR LOAN From 9.99% per annum up to 75% LTV £200,000 to £2 million loan size 36-60 months Example Uses: Buying or refinancing residential property Refurbishment Development exit Short term cash flow requirements ​ ​ VIEW GUIDE DEVELOPMENT From 0.93% pm up to 75% LTV £250,000 to £1.5 million loan size 3 to 18 months loan term Example Uses: Ground up development Finish and Exit HMO and holiday lets accepted First time developers ​ VIEW GUIDE

  • Funding 365 receives increased CBILS allocation from the British Business Bank

    Funding 365 receives increased CBILS allocation from the British Business Bank Funding 365 has been approved for an increased CBILS allocation by the British Business Bank, following strong demand from borrowers. Terms issued by the lender under the scheme to date have ranged from development exit loans for new build flats in Basingstoke and conversions in Harrogate, to refinance bridges for portfolio landlords in London. Delivered through British Business Bank accredited lenders, CBILS is designed to support the continued provision of finance to UK smaller businesses (SMEs) during the Covid-19 outbreak. Under the scheme, Funding 365 will provide unregulated bridging loans up to 65% LTV for up to 24 months. These loans will be secured on a first charge basis against residential properties in England and Wales. For approved loans under CBILS the Government will make a Business Interruption Payment to cover the first 12 months of interest payments and any lender-levied charges. The borrower remains 100% liable for the debt. Read the full story here: https://bridgingandcommercial.co.uk/article/16708/funding-365-receives-larger-cbils-allocation-from-british-business-bank

  • Funding 365 expands team with new Underwriter

    Funding 365 expands team with new Underwriter Bridging lender Funding 365 today welcomes another Underwriter to its team to enable it to continue providing its fast, bespoke service despite a huge increase in enquiries in 2016. Bridging lender Funding 365 today welcomes another Underwriter to its team to enable it to continue providing its fast, bespoke service despite a huge increase in enquiries in 2016. Calum Waite is a Business Economics graduate with a unique combination of experience in mortgage underwriting, the building trade and property refurbishment. Previously Calum worked at Gopher Money where his responsibilities included managing all property valuations and improving servicing operations. Calum comments,“I’m thrilled to be joining Funding 365’s underwriting team and to assist in its growth. It’s really exciting to be part of such a dynamic company in this fast paced industry.” Funding 365 Managing Director, Mike Strange comments,“Calum will add further depth to our underwriting team which will ensure that our high standards of service are maintained for our broker partners.”

  • Funding 365 adds two hires to its graduate scheme

    Funding 365 adds two hires to its graduate scheme Funding 365 has recruited two new members for its graduate scheme this summer to enhance its underwriting and marketing teams. Underwriter, Henry Mason, joins with a 2:1 in Economics from University of Bath. Sales & Marketing Executive, Chris Alldridge, graduated with a 2:1 in English from University of Bristol. Funding 365 launched its graduate scheme in 2016 in order to bring new talent into the short term finance industry and train new team members to its unique way of working Read the full story here: https://bridgingandcommercial.co.uk/article/17423/funding-365-adds-new-hires-to-graduate-scheme

  • Residential Bridge on a Portfolio of Houses | Funding 365

    The brief Our solution Underwriter quote Given the borrower's experience within the property industry, resulting in a sizable property portfolio, our team were able to craft a bridging solution that was a cut above the competition. Our 12 month, 75% LTV solution - delivered at a rate of 0.67% - proved to be the perfect fit for his latest project. Since completing this loan, our short-term financing has become a staple part of the client's business model. To date, over 100 properties (spread across several loans) have benefitted from the same solution. The borrower sought the purchase of 35 houses in poor condition. Once secured, the client intended to conduct internal refurbishments to bring them up to a higher standard. This case exemplifies the strength of our products and the high quality service that we're capable of delivering time and time again. I look forward to supporting this client with other exciting protfolio projects in the future using our great bridging product. BACK TO PROJECTS £2 MILLION 0.67% PER MONTH 75% LTV PURCHASE: PORTFOLIO OF 35 HOUSES CASE STUDY

  • Funding 365 reports record month in October

    Funding 365 reports record month in October Funding 365 has revealed that October was its biggest month to date, with loan enquiries totalling £203million, up 160% YOY. Their underwriters processed 312 unregulated bridging, light development and 3 year loan applications, up 120% YOY. Stated uses for these loans included residential investment property acquisitions, semi-commercial and commercial property purchases, auction completions, landlord portfolio consolidations, business cash flow requirements, refurbishments, conversions and development exits. Funding 365 doesn’t have a panel of brokers, instead believing that it’s only fair to offer all of their products to all intermediaries. In October, they responded to enquiries from 43 new brokers. Read the full story here: https://www.fiba.org.uk/latest-press-blog/funding-365-reports-record-month-in-october/

  • Large Residential Bridge | Funding 365

    The brief Our solution Broker quote Our team crafted an effective solution, delivering an interest rate of 0.67% per month for a 12 month period. Given the strength of the assets and the client's experience, we were able to go a step further than our advertised rate, offering 0.67% per month. This flexibility enabled the client to carry out all the necessary works. The length of the term also provided the borrower with the time necessary to strengthen the tenancies in preparation for exit. The client required £1.3 million to complete the purchase of 8 flats in Winchester, England, all of which were in need of modernisation. Given the condition of the properties, the client wanted to access the very best rate to ensure that a comprehensive refurbishment could be conducted. “It's refreshing to work with a lender that is able to step outside of their pricing matrix and 'sharpen the pencil' to win a deal over their competitors. This gave the borrowers confidence, knowing that Funding 365 really wanted to work with them, as well as knowing they had the best combination of pricing and leverage that the market had to offer.” With our principal-led funding we’re able to make quick, credit-backed decisions on loans. When we spot deals with real potential we always try to support them with the best terms possible. In this case, we were able to go a step further than our advertised rate, offering 0.67% per month with no catches. It’s this kind of flexibility and determination to get a great deal done that makes Funding 365 unique. Tapton Capital’s exceptional relationships with their clients made the whole process a pleasure. Underwriter quote BACK TO PROJECTS PURCHASE: 8 FLATS IN WINCHESTER CASE STUDY £1.3 MILLION 75% LTV 0.67% PER MONTH

  • Funding 365 promotes Eddie Boakye to Head of Underwriting

    Funding 365 promotes Eddie Boakye to Head of Underwriting Funding 365 has today revealed the promotion of Eddie Boakye to Head of Underwriting. Eddie has been an integral member of the Funding 365 underwriting team since 2014 and last year he was also honoured by the wider industry with an ‘Underwriter of the Year’ win at the Bridging & Commercial Awards. As head of Funding 365’s underwriting department Eddie will continue to ensure that Funding 365 retains the extraordinary level of service that they are known for as well as further improve their product offering. The Funding 365’s underwriting team also last week welcomed a new addition in the form of graduate, Tim Plumbridge. Eddie comments, “I am really honoured to be appointed ‘Head of Underwriting’ at Funding 365. I’ve been here for a number of years and have witnessed first-hand a significant rise in all areas of the business. I’m delighted to embark on this new opportunity, and look forward to working with my colleagues and clients to continue the growth and success of Funding 365.” Funding 365 Director, Mike Strange adds, “We’re delighted to have Eddie as our Head of Underwriting. He has been with us since the early days of our company and has been integral to our growth and development. We’re excited about the future with Eddie as a key member of our team.” Eddie can be contacted on eddie.boakye@funding-365.com or 0800 689 0650.

  • Funding 365 announces move into development finance

    Funding 365 announces move into development finance Bridging lender Funding 365 has today announced its expansion into development finance with the launch of its flexible Light Development product featuring interest rates from 0.79% per month. Designed to enable borrowers to carry out property conversions and heavy refurbishments, or to finish and exit their existing development projects, this customisable product will allow for up to 75% LTV day one with up to 100% of cost of works funded in arrears. Eligible loans will be between £200,000 and £3million in size and secured against properties in England and Wales for up to 24 months. Clients can decide how to structure their loans in relation to the number of advances required and whether to structure the loans with or without exit fees. Borrowers with adverse credit or limited experience will also be considered. Read the full story here: https://bridgingloandirectory.co.uk/development-finance/funding-365-enters-development-finance-market/

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