UK Property Loan
Operating within an overall policy of providing short to medium term finance, the Bank will consider proposals for secured facilities on competitive terms. Our communication lines are short, allowing us to provide speedy responses, and we pride ourselves in our ability to provide flexible, tailored solutions to a wide variety of borrowers. A loan may be provided for investment purposes to companies and to persons who are normally resident outside the UK to assist with the acquisition of a property or for equity release.
What does it offer me?
Minimum facility: £500,000
Term: 3 - 5 years
- Interest rate (3 year loan): 1 Month LIBOR + 2.95% (per annum)*
- Interest rate (5 year loan): 1 Month LIBOR + 3.45% (per annum)*
- Arrangement fee (3 year loan): 1.5% of facility limit (or 0.5% on any subsequent renewal)
- Arrangement fee (5 year loan): 1% of facility limit (or 0.5% on any subsequent renewal)
- Repayment terms: Interest only or amortising quarterly
- Interest frequency: Quarterly
- Security: First legal charge over residential property situated in the UK*
- Minimum interest cover (by net rental income or other demonstrable means): 150%
- Maximum LTV (loan to value): 65% of the acquisition price or a professional valuation of the property, whichever is lower
*Where the borrower is a company or a trust the Bank will ordinarily seek recourse by way of a personal guarantee from the ultimate beneficial owner or principal, as applicable. The requirement for a personal guarantee can exceptionally be waived however a higher interest rate may then apply.
The Bank will not charge an early redemption fee unless otherwise stated in the facility terms.