Keeping you updated with the latest developments and news within the finance industry.

We recently shared the news of an exclusive HMO product, that only a few brokerage firms like ourselves have access to. It’s designed to give you good pricing from a challenger bank whilst utilising a commercial valuation instead of a residential based valuation. The pricing is targeted to compete with the lower priced HMO lenders and it’s gaining great momentum already with our customers.

If you are an experienced HMO developer or investor, then we have a private lender who can lend up to 70% of the gross development value. From this we’ve seen customers get up to 84% on purchase price day one, as they are not capping against the initial value of the building, together with full cost of works funded. This works really well on purchases at low value, and the lender will also lend against the investment value in non-article 4 areas.

There has been a noticeable increase in our customers looking to develop commercial to residential schemes, due to the lower build costs and wider funding options. We are delighted to be working with a lender who can provide a single facility on commercial schemes being taken through planning, with pre-agreed funding for works once planning goes live. This saves on refinance costs and gives our customers complete visibility of all their funding costs at the outset.

There is a new product with rates starting from just 1.80% over base rate. For experienced businesses, the lender will lend up to 75% loan to value, with loan terms of up to 25 years, and for refinances with no lending fee! (yes that is correct … no lending fee!)

For more information about any of the points listed in this update, don’t hesitate to get in touch via our Contact Us page.