LOAN INTEREST RATES PER ANNUM
Gross loan to value:
3 Year
5 Year
65%
70%
75%
7.74%
7.49%
7.99%
8.24%
9.74%
8.49%
3
4
Prime
Classic
CREDIT PROFILE
No CCJs in the last 2 years (director or company)
All CCJs must have been satisfied at least 12 months prior to completion
No bankruptcy / IVA in last 3 years
If a company is being purchased, credit checks are applied to the acquiring company and its directors
The tenant in any commercial property must have a strong credit profile
The property should not be deemed to be specialist in nature and should be a liquid property which would attract significant mainstream investor demand should it be marketed for sale in its current condition
Up to 2 CCJs of less than £7,000 in the last 2 years (per director or company)
All CCJs must be satisfied at the completion date (completion proceeds can be used for this purpose)
No bankruptcy / IVA in the last 3 years
Where the loan otherwise does not fit the Prime product criteria
This does not constitute an offer of financing. Heads of Terms and Loan Agreements will be provided by Funding 365 Limited on a case-by-case basis. Funding 365 Limited reserves the right to amend, suspend or terminate this product at any time and without notice.
YOUR PROPERTY MAY BE AT RISK IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Funding 365 Limited is registered in England and Wales. Registered address: 20 – 22 Wenlock Road, London N1 7GU. Company Number: 8488034. Sept 2019.
1. Gross LTV is calculated using the gross loan amount divided by the lower of the purchase price and valuation. Valuation is typically the OMV, although other measures may be used on a case-by-case basis. Loan interest rates outlined above include a monthly pay rate, retained interest. Indicative pricing based on standard residential property with borrower Prime credit profile. | 2. Larger loans considered upon application. | 3. The total interest rates outlined include a monthly pay rate and retained rate of 2.5%. | 4. The total interest rates outlined include a monthly pay rate and retained rate of 2%. | 5. There is no early redemption charge if the loan is repaid in the last month of it's scheduled term.
INTEREST RATES (FIXED)
LOAN SIZES
LOAN TERMS
LOCATIONS
36 or 60 months
Across England and Wales
£200,000 to
£5,000,000
2
From 7.49% per annum
(see below)
1
SPECIALIST 3 / 5 YEAR BTL
INTEREST RATE
From 0.59% up to 60% LTV
From 0.69% up to 75% LTV
Interest can be paid monthly (in full or in part) or retained upfront
LOAN SIZES
£100,000 to £10,000,000
Larger loans considered upon application
LOCATIONS
Across England and Wales
LOAN TERMS
3 to 24 months
KEY INFORMATION
Swipe across for key product information
Broad spectrum of residential properties considered, including social housing
KEY BENEFITS
Semi-commercial properties considered, where commercial < 30% of total value
Expats and foreign nationals considered, with UK footprint and UK bank account
Loans from £100,000 to £5million
Suitable for auction purchases
Award-winning, quick and personal service - speak directly to an underwriter
Security: Residential property in England and Wales.
PRODUCT INFORMATION
HMOs
Loan term available: 3 or 5 years
Security: First charge on properties in England and Wales
Loan term available: 3 and 5 years
Adverse credit: Two different credit levels (see below)
ACCEPTABLE PROPERTIES
Residential accommodation
MUFBs
Social housing
Student accommodation
Holiday lets
Loan Purpose: Purchase, re-mortgage or capital raise
Security: Residential property in England and Wales.
Semi-commercial properties
Affordability: 110% of monthly payment amount (monthly pay rate)
Affordability: 110% of monthly payment amount
Repayment: Loans are offered on an interest-only basis
STANDARD FEES AND CHARGES
Additional loading may be applied to the interest margin as follows:
Arrangement fee: 2%
Broker commission: 1.5% (taken from arrangement fee)
ADDITIONAL MARGIN LOADINGS
HMOs - 0.35%
Loans under £200,000 - 0.50%
Semi-commercial properties - 0.50%
Expats and foreign nationals - upon review
Early repayment charges:
0% early redemption charge in the last month of the scheduled term
5 year term
5%
4%
3%
2%
1%
3 year term
3%
2%
1%
5
Affordability: 110% of monthly payment amount
Classic credit - upon review
Exit year
Year 1
Year 2
Year 3
Year 4
Year 5
Additional loading may be applied as follows: