Revolving Trading Facility

Purpose Revolving facility secured against residential property
Security Unregulated First Charge Only
Borrower Individuals, Partnerships & UK Limited Companies.
LTV Up to 75% of OMV
100% LTV available with additional security
Amount £50,000 to £1,600,000 (will consider higher amounts)
Interest Rate 0.99% per month, Charged on a monthly basis
Loan Term 12 month facility available
Fees Arrangement fee: 2%
Renewal fee: 1%

Key considerations

Property types Most types of residential property considered. First legal charge over residential property occupied by the borrower and/or family not acceptable.
Other Unacceptable security Land & Non-standard construction properties.
Property Tenure Freehold or long leasehold with a minimum of 60 years remaining.
Credit history No CCJs, mortgage arrears or defaults in the last 3 years. Any previous adverse information will be considered on an individual basis.
Limited Companies Director and/or shareholder personal guarantee(s) and debenture will be required in all cases.
Payment Options Interest will either be deducted from the initial advance or serviced by the borrower on a monthly basis, subject to proof of income.
Upfront fees 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.
Valuation 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.
Legal fees 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.
Exit route We require clearly defined exit routes on all cases (i.e. sale or refinance).