||Most types of residential property considered. First legal charge over residential property occupied by the borrower and/or family not acceptable.
|Other Unacceptable security
||Non-standard construction properties.
||Freehold or long leasehold with a minimum of 60 years remaining.
||No CCJs, mortgage arrears or defaults in the last 3 years. Any previous adverse information will be considered on an individual basis.
||Director and/or shareholder personal guarantee(s) and debenture will be required in all cases.
||Interest will either be deducted from the initial advance or serviced by the borrower on a monthly basis, subject to proof of income.
||No upfront processing fees will be charged. Prior to drawdown of the loan the only costs that the borrower will be responsible for are the valuation and legal fees.
||All valuation fees must be paid upfront. The fee covers the cost of an external valuation report. Valuation fee charged will be dependent upon the property type & value.
||The legal work will only commence on receipt of the legal fees. The borrower will be responsible for Signature Private Finance’s legal fees as well as its own solicitor’s costs.
||We require clearly defined exit routes on all cases (i.e. sale or refinance).