Lending Criteria
This may look like a boring list of numbers, but it's pretty useful information to have to hand.
Remember, the great thing about arranging short-term finance with B.M. Samuels is that we're always flexible...
Loan size: Anywhere from about £30,000 up to £5million.
Loan term: Normally up to 12 months (longer if required).
Property security:
- All types - houses, flats, shops, offices, industrial and similar properties.
- 1st and 2nd charges considered.
- Includes incomplete buildings and sites with or without planning permission.
Loan to Value ratios:
- In general, we lend up to 70% of our surveyor's valuation of the property.
- For refurbishments/conversions, we lend up to 70% of our surveyor's valuation for the initial advance, plus up to 100% of the build costs.
- For new-build developments, we lend around 55% to 60% of our surveyor's valuation for the initial advance, plus up to 100% of the build costs.
Purchase price / valuation: We will consider lending up to 100% of the purchase price, if you have purchased at a significant discount to our surveyor's valuation.
Interest rates / fees: Competitive! Call us for an immediate quotation.
Who we lend to: Individuals and companies, UK and offshore.