Property Developers and Investors Bridging Finance

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Lending Criteria for Property Developers and Investors

Property Developers and Investors Lending Criteria

Acceptable Security
and LTV

	First Charge	Second Charge
Freehold Residential	80% OMV	70% OMV
Leasehold Residential	80% OMV	70% OMV
Semi Commercial (bricks & mortar)	70% OMV	65% OMV
Commercial Property (bricks and mortar)	70% OMV	65% OMV
Residential Land with detailed planning consent	65% OMV	N/A

Minimum Loan

£26,000

Maximum Loan

£1,000,000 (loans above £500,000 will be individually assessed)

Minimum Property Value

£100,000

Minimum/Maximum Term

1 month / 6 months (Longer loans will be individually assessed)

Interest Roll-up Facility

On same terms except deduct interest payable over the period of the loan

Geographical Spread

England, Scotland & Wales

Borrower Status

Non Status Facility
Voter's role search or proof of U.K. residency
National insurance number
Two recent utility accounts
Passport/photo style driving licence
Limited Companies accepted with Personal Guarantees from Directors

Income required

Self Declaration of Income facility

Completion fee

1% payable on completion (Minimum £1,000)

Legal Fees

£750 payable on completion (England & Wales)
£500 payable on completion plus Land Registry fees (Scotland)

Exit fee

Negotiable based on credit assessment of each individual case

Valuation Fee

At cost by our Panel Valuer

Broker's Commission

½% (Minimum £500.00, payable on completion)
¾% if there is an exit fee

Independent Legal Advice

All loans to borrowers 65 years and over must be witnessed by a solicitor

Contacts

Dorian Nineberg/Daniel Baum
Tel: 0845 260 3366 Fax: 0845 260 3367
e-mail: info@firstpropertyfinance.com
Website: www.firstpropertyfinance.com

	FPF Short Term Finance Application Form (635k PDF)
	Authority to First Mortgages Form (11k PDF)
	Self Declaration of Affordability (26k PDF)

Authorised & Regulated by the Financial Services Authority -
Your home may be repossessed if you do not keep up repayments on your mortgage.

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