Lending criteria
Where we lend, how far we stretch, and what we will not do.
These are guidelines rather than a rulebook. If a deal sits slightly outside them but the security and exit are strong, tell us — we would rather look than let you guess.
Loan size
£150,000 to £10,000,000 (larger considered by exception with funding partners)
Term
3 to 24 months
Maximum LTV
75% residential, 70% semi-commercial, 65% commercial, 60% land with planning
Maximum LTGDV
70% on refurbishment and conversion schemes
Interest
Retained, rolled or serviced where income supports it
Charge
First and second charge (second subject to consent and deed of priority)
Jurisdiction
England, Wales and Scotland
Borrower
UK SPVs, limited companies, LLPs and experienced individual investors
Personal guarantees
Typically required from principals, level agreed case by case
Valuation
Independent RICS valuation instructed by us on every facility
We regularly fund
- +Non-owner-occupied residential, HMOs and MUFBs
- +Semi-commercial and commercial investment assets
- +Part-built and stalled schemes with a clear route to completion
- +Land with detailed or outline planning consent
- +Auction purchases with a fixed completion date
- +Adverse credit with a credible explanation and strong security
Outside our appetite
- –Any property occupied, or to be occupied, by the borrower or an immediate family member
- –Regulated mortgage contracts and consumer borrowing
- –Loans for personal, household or non-business purposes
- –First-time developers on heavy or complex ground-up schemes
- –Security outside England, Wales and Scotland
- –Speculative land with no planning and no realistic exit
Meeting these criteria does not mean a facility will be offered, and falling outside them does not automatically mean a decline. Every case is assessed individually and any offer is subject to satisfactory underwriting, valuation, legal due diligence and credit approval.
Test a deal against our criteria