What is it?
When buying a property at auction your client may want to have their finance lined up before bidding, particularly as they will need to pay a 10% deposit on the day of purchase.
We can work with you to get an Agreement in Principle from a lender for the best finance to suit your client’s needs. This will allow them to bid with peace of mind, subject to survey.
Light and Heavy Refurbishment Short-Term Loans (STL)
If they want to carry out works on the property, they have the choice between light and heavy refurbishment products, which will depend on the amount of proposed works to be carried out with no early repayment charges.
If they are purchasing land to build property or undertaking an extensive conversion, development finance would be used. A typical loan would assist with the purchase of the land and the build costs.
See our Development Finance section for more details or get in touch today.
If the property they are looking to purchase requires no works to be carried out before letting out, a buy-to-let term loan or House of Multiple Occupation (HMO) term loan may be suitable.
Experience is not essential but would give your client more options in terms of products available.