Maximum LTV :

First Charge

Second Charge

Loans up to £250,000:

75% ltv

60% ltv

Loans up to £500,000:

65% ltv

55% ltv

Minimum Property Value:

£50,000

Minimum Loan:

£30,000

Minimum / Maximum Term:

2 months /12 months

Interest Rate:

From 0.95% per month (payable monthly in arrears)

Interest Roll-Up Facility:

On same terms except all ltv's reduced by 10%

Geographical Spread:

England and Wales

Borrower Status:

Voters roll search
National insurance number
Two recent utility accounts
Passport/photo style driving license
No ccj's (excluding ccj's satisfied 2+ years)
Maximum 2 months arrears

Income Requirement:

self-decleration of income facility

Acceptable Security:

Freehold residential properties leasehold residential properties:
(min 75 years)
(min 30 years if value over 300,000)

Commitment Fee:

Nil

Redemption Fee:

Nil

Valuation Fee:

As per fee scale

Legal Fees:

£300 for first property, £150 per additional property, deducted on completion

Independent Legal Advice:

All loans:
a) to borrowers aged 64yrs and/or
b) where the property offered as security is not on the market for sale.
must be witnessed by a solicitor.