Refurbishment

• Rates from 0.89% per month
• Up to 75% Net LTV Day One
• Up to 75% LTGDV
• Up to 90% LTC
• Planning gain considered as equity
• Non-regulated
• Daily Rolled Interest
• Terms up to 24 months
• Coverage across England & Wales
• Light touch asset manager drawdown process
• Available on residential, commercial and mixed-use schemes.
• Financing from light to heavy refurbishment projects
• Rapid approval process for quick access to funds
• Dedicated team and fast turnaround

General

• Maximum number of applicants: 4
• Borrower Experience: At least one guarantor or borrower must have a minimum of 3 completed refurbishment projects undertaken as a developer in the past 5-years, or, where the loan is a light or medium refurbishment, the contractor or building firm must have relevant experience in the last 5-years.
• Deposit:  On all purchase cases the source of deposit must be disclosed and Lendhub may request that evidence of the deposit is produced.
• Servicing is not allowable.
• Exit Strategy: The borrower must have a valid and reasonable exit strategy in place to repay the loan at term.

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Individuals

• Minimum age: 18
• Maximum age: 85
• Foreign nationals & expats without a UK credit footprint are permitted at a reduced leverage.
• Criminal convictions are not permitted.
• If accompanied by evidence and an explanation that the issue was only temporary then missed payments and credit blips can be considered.
• The following credit profile is applied for loan applications:
  • No bankruptcy/IVA in the last 3 years.
  • Missed mortgage/secured payments allowed: Up to 4 in the past year. None in the past 6 months.
  • Unsecured arrears allowed
  • County Court judgments (CCJs) allowed: Maximum value of £10,000 which must be settled prior to completion.
• Gifted deposits for individuals are acceptable. A deed of gift and gift indemnity insurance will be required.

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Companies

• Full personal guarantees are required from all directors and shareholders holding more than 25% of shares in the company. 
• Gifted deposits for Limited Companies. Acceptable without a customer contribution when the following are in place and verified: Directors loan, Intercompany loans, Business savings
• Bankruptcy or liquidation: No bankruptcy or winding up petition in the last three years.

• Residential, commercial, and mixed-use properties
• Properties in England and Wales