100% funding is readily available for experienced developers on a JV basis typically on low to medium value multi unit schemes in established residential towns right across the UK. These solutions are usually structured in an SPV with a Profit Share Agreement at 50:50 or better in favour of the Developer.
90% funding otherwise known as Stretch Senior Debt is now more commonly seen than separate Senior Debt and Mezzanine not least because the credit and legal process is simplified using one Lender as opposed to two. Rates are around 9% per annum with the usual in and out fees charged by the Lender.
60% funding or Senior Debt offers the cheapest money for lower leverage with rates normally around 5-7% plus fees.
Key sub sectors include Residential, Build to Rent, Purpose Built Student Accommodation, PD Conversions, and pre let Commercial.
PCF also specialise in short term loans for Auction purchases, Light and Heavy Refurbishment projects, HMO conversions and Semi Commercial. Funding can be arranged at 75% LTV with rates starting from around 0.60% per month and no exit fees on the way out.
Bridge to Let loans have become extremely popular where the original bridging loan is converted into an Interest Only Term Loan with the same lender. A process that is underwritten on Day 1 so the Investor knows upfront what the exit route looks like and minimal fees are involved in setting up the term loan. Lenders are keen on these structures because it removes short term exit risk for them.
Developer Exit Loans remain in strong demand which is not surprising given the prevailing uncertainty in the market which looks set to continue into 2020. PCF can release cash from development sites at or close to practical completion so the Developer can use the proceeds to replenish their reserves and in many cases purchase their next site often at a discount as a cash buyer and able to move quickly.
PCF have multiple loan products for Portfolio Landlords too with Interest Only terms up to 75% LTV with rates typically around 3% to 3.50% over LIBOR. We can of course get lower rates on vanilla Buy to Let properties.
Commercial Mortgages are readily available at up to 80% LTV for established SME businesses looking to own their business premises. We have arranged loans recently at around 2% over Base but most cases will be priced above that around 3% over Base depending on the strength of the underlying business.
We have extensive experience in arranging bespoke funding packages for SME including working capital facilities, Invoice Finance, Asset Finance, and unsecured 5 year term loans for any legal business purpose.
Whether you’re buying or refinancing, we’ll guide you to the best deals in the market.
The loan will be structured to your specific requirements including a choice of interest only or amortising repayment profiles.
Rates from 2% over Base
LTV up to 75%
Your Business is one of a kind. So don’t settle for Banking that’s one-size-fits-all.
We’ll give you the widest choice from fee free Commercial Mortgages to Unsecured Loans for any purpose. You can even raise money against your sales invoices and credit card receipts.
New lending products added every day.
Margins from 2% over Base.
Bespoke solutions tailored to your business.