Complete Buy to Let, Bridging & Commercial Finance solutions - Updated - July 2011
Our specialist commercial lending department can cater for all Buy to Let, Developement finance and Commercial loans for all types of cases.
BUY TO LET RATE OF THE WEEK: (Based on £500,000 valuation and 75% LTV - Loan of £375,000 based on a 25 year term (figures correct as of 21-07-2011)
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PRODUCT TYPE
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4.39% FIXED 2 Yrs thereafter lender SVR of 4.50% for the remainder of the term.
Max 75% LTV.
Current Pay Rate 4.39%
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THE OVERALL COST FOR COMPARISON IS
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4.7% APR
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INITIAL RATE
VARIABLE RATE: CURRENTLY
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£1,379.19 pcm (Interest only)
£2,072.01 pcm (Repayment)
4.39% variable rate for remainder of the term
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BASIC VALUATION FEE
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£286.00 (Basic)
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LENDER ARRANGEMENT FEE
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£1.999.00 can be added to loan
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EARLY REPAYMENT CHARGE
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3% of loan outstanding to 31.08.2003
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OVERPAYMENTS
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Max 10% of mortgage loan balance.
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FEATURES
CASH BACK / OTHER INCENTIVES / OTHER FEATURES
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Mortgage is portable if you move home.
Further advances allowed at any time
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INCOME MULTIPLES
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up to 5 x single or 5 times Joint for earnings above £80,0001
Min 2 years accounts for self employed.
All LTV - rental must be 125% of rate of 6.75%
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MAXIMUM LOAN SIZE
MAXIMUM LOAN TO VALUE (LTV)
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£500,000 at 75% LTV.
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Sectors
If you do not see what you need here it does not mean we cannot help you, call one of our underwriters to discuss. For advice on any of these areas, contact Avenue & Co Private finance at enquiries@avenue-pf.com
- Guest Houses
- Pubs
- Restaurants
- Leisure Clubs
- Retail Shops
- Residential Care Homes
- Nursing Homes
- Special Needs Homes
- Close Care
- Garages
- Schools and Pre-Schools
- Clubs
- Pubs
- Self Build
- Private Hospitals
- Nurseries
- Factories
- Limited Company (SPV) Lending (Investment property only).
- Live / Work Units
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- Semi-Commercial
- Post Offices
- Warehouses
- Offices
- Farms
- Golf Courses
- Agricultural Ties
- Professional Practises
- Development, Residential & Commercial
- Buy to Let
- Property Investment Portfolios, Residential & Commercial
- Bridging, Residential & Commercial
- Land - Land with planning permission and Freehold Land.
- Catteries
- Kennels
- Takeaways - Food/Restaurants
- Hotels
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DEVELOPMENT FINANCE - Our expertise for the professional Developer
- Rates from LIBOR or BBR + 3.5%
- Prime city centre locations & South-East England with a strong CV or appropriate background - Experienced developers only
- 60-70%% Loan to Cost
- Development funds also available
- No pre-requisite for pre-sales on residential units including apartment blocks
- Exit Fees from 1-2% (depending on deal)
BRIDGING FINANCE - We compare rates from over 25 of the leading Bridging Lenders in the UK for our clients
- Bridging Loans up to £30m to 65% LTV (closed bridge).
- Interest Roll over and 3 & 5 year interest only terms available.
- Residential, Commercial & Semi-Commercial Properties.
- Auction Purchase (minimum 14 days notice prior to auction date required).
- Short leases less than 10 years accepted subject to valuation.
- Uncapped lending considered for high net worth individuals
- Lending up to 70% of Open Market Value (which can equate to 100% of Purchase Price WITHOUT additional security)
- Lending based on interest and arrangement fees roll up and deducted from advance.
- Max 9m term
- Daily interest
- Rates from 1% pcm and arrangement fees from 1-2% of advance (NO EXIT FEES)
- FSA regulated lending possible
- Offers within 5 days typically
DEVELOPEMENT FINANCE - Access to Leading and exclusive Private Bank Lending (London and South East Only)
- Min £1m - £20m (larger loans can be possible)
- Max GDV £20m (larger GDV subject to assessment)
- ANNUAL RATES FROM BBR + 3.5% to 4.5%
- Lender Fees - from 1.25% to 1.50%
- Experienced Developers with track record only
- Single Dwelling or Flats accepted (max 25 units)
- 20% minimum return on cost required
- Max 2 yr term (3 yrs possible dependent on deal)
- EXIT FEES: 1-2% (for 50-65% LTVs) and 2-4% (for 70-75% LTVs)
- Interest, costs, fees can be rolled upo into loan
- Lender has over £1bn to lend within next 18m - highly capitalised Private Bank deal)
COMMERCIAL LENDING OVERVIEW
- Commercial & Development Finance Loans up to £50m.
- Loans for Freehold Business Purchase to 75% LTV and Leasehold Businesses (including 100% of purchase price), License Purchases, Leaseholders buying Freeholds to 100% of contractual purchase price and New purchases with collateral.
- Buy to Let Lending based on 3m LIBOR + margin of 3% as of 01.11.10 to 65% LTV
- Commercial Lending decisions within 48 hours.
AS A RESPONSIBLE LENDER, ALL BRIDGING LOANS & COMMERCIAL LOANS ABOVE £500,000 REQUIRE AND ASSETS & LIABILITIES STATEMENT, LAST 3 MONTHS BANK STATEMENTS, PROOF OF IDENTITY & COMPLETED APPLICATION FORM
COST OF ADVICE
As independent advisers, you can choose how we are paid. We usually charge an administration fee of £500 when a mortgage has been approved in principle and a full mortgage application is submitted to the lender. We may on completion receive a commission from the lender. Alternatively, you can pay us a a fee of 0.5% of the loan and we will refund any commission back to you that we receive. All fees are agreed on a case by case basis for development and commercial loans above £1m.
We adhere to the principles of treating customers fairly and if we do charge you a fee, we will put in writing to you details of any fees before commencing any work.
Your property may be repossessed if you do not keep up repayments on your mortgage.
For Self Employed loans, The overall cost of comparison is 6.3% APR. The actual rate available will depend on your circumstances. Ask for a personalised illustration. This APR is based on those with a clean credit history.
Commercial mortgages are not arranged via Sesame or regulated by the Financial Services Authority.