Terms today, funds in days.
Deals that are agreed and in conveyancing, or auction lots you've won, go into the Fast Track lane with these timings on our side.
Heads of terms
Send the deal with the numbers and the heads of terms come back the same day.
Our side of the legals
Completed within 48 hours of the RICS valuation landing. Documentation is prepared in house.
Funds to your solicitor
Within 24 hours of legals clearing. Clean deals can complete in two to three weeks from application.
The valuation is usually the longest wait, typically 7 to 14 days, and that's on the surveyor's diary. What slows deals down is a missing SPV, a slow solicitor or searches ordered late. Have those sorted and speed takes care of itself.
Company to company, against a clean exit.
Exit is the deciding factor. Get that right and most other things can be managed.
What we fund
- Refurbish and flip, and buy, refurbish, refinance (BRRR)
- HMO conversions, sized on a commercial value where the commercial mortgage exit is evidenced
- Serviced accommodation, sized on bricks and mortar value
- Light and heavy development, extensions and conversions
- Commercial and commercial to residential
- Auction purchases, once the lot is won
What we don't
- Lending to individuals, or against property in a personal name
- Regulated owner-occupier lending
- Long-term holds or multi-year facilities
- JVs, equity splits or profit shares
- Deals without a clear, evidenced exit
- Scotland and Northern Ireland on the Core Facility
Read these before you message.
Are there any upfront fees?
No arrangement fee on the Core Facility. The £2,500 documentation fee comes out of the advance at completion, and the exit fee is paid when you redeem. The only thing you pay upfront is the RICS valuation.
Why is interest charged on the full facility from day one?
Because the full facility is committed to your project from day one. It's a fixed, known cost for the whole term with no surprises as drawdowns release. Compare lenders on total cost, not headline rate, and add any monitoring fees they charge. We charge none.
What's the exit fee?
3% if you repay within 9 months, 4% if you repay after month 9. It's based on when the loan actually repays. A minimum of six 28-day periods of interest applies, with no penalty for repaying early beyond that.
Can I have some of the refurb money upfront?
Stage payments as the work completes are the starting point. We shape the drawdown around your project and cashflow, and firm it up on the underwriting once we've seen your experience, security and figures. Ryan signs each stage off himself from your invoices, with no QS and no monitoring fees.
Can I borrow in my personal name?
No. We lend company to company only, against property held in a limited company. A clean SPV is the simplest route because we take a debenture and share charge; existing companies are considered case by case. A property in your personal name would need transferring into a company first, which can trigger stamp duty and possibly capital gains tax, so take your own tax advice.
Do I really need searches?
Yes, on every purchase. Indemnity insurance only covers this purchase. It doesn't guarantee your refinance can complete if a search would have flagged a problem, and the exit is what repays the loan.
Can I use my own valuer?
No, we instruct the valuation ourselves and you cover the fee. On properties worth under £300k you can choose our in-house desktop survey instead, if you prefer: quicker and cheaper. Otherwise it's a full RICS Red Book valuation from our own panel. Ryan confirms it on your deal. The valuation decides the value, so there's no need to send comparables.
I'm buying at auction. Will you pre-approve the lot?
We don't pre-size individual lots. Use the calculator to set your maximum bid. You're bound on the hammer, but the facility is sized on the RICS valuation, so if it values light the facility trims to match. Once you've won, it goes on Fast Track.
What about loans of £1m and above?
Those run on the Large Facility: 1.25% per month rolled up, a 1.5% lender fee and 2% intermediary fee rolled up, and no exit fee. Bridging up to 50% of combined security value, development up to 75% of GDV with background security. Ryan quotes these personally.