Loan Description
We provide funding for new build projects, conversions, and refurbishments. Both residential and commercial properties are acceptable, provided the security offered is a first charge on a property located within England or Wales. Our maximum loan is £2,000,000.
For new build developments we are happy to consider speculative schemes and of course, those that are pre-sold or pre-let.
Applications are welcomed from experienced and inexperienced customers alike.
We will advance a maximum of 65% of the purchase price or initial value (whichever is lower); followed by up to 100% of the development costs and a roll up of interest – provided that the ultimate loan to value does not exceed 65% of the end value of the finished development/property.
We will release an agreed amount on day one and thereafter the remainder of the facility will be released in pre-agreed stages, as the development/refurbishment progresses. Interest is charged on a daily basis on the outstanding balance and is rolled up within the facility and added to the loan.
A member of our Property team will usually visit the site/property to discuss your requirements in detail and to answer any questions that you may have regarding the finance element of the project.
To make an application, either complete the
on-line Enquiry Form, or alternatively telephone a member of our Property team on
01329 234294.
Any property used as security,
which may include your home, may be repossessed if you do
not keep up repayments on your mortgage.
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