| LENDING CRITERIA: RESIDENTIAL 1ST CHARGE and 2D CHARGE | ||
|---|---|---|
| MINIMUM LOAN SIZE | £100,000 |
ADDITIONAL INFORMATION Properties located in London, selected South East, the Midlands and major cities Non Owner-Occupied properties Loan based on Open Market Valuation Interest calculated on a daily basis Interest can be retained, rolled up or serviced subject to LTV Minimum age 18, maximum age 75 Maximum number of applicants: 4 Overseas nationals considered UK and offshore Limited Companies considered All Limited Company applications will require directors’ personal guarantees Impaired credit cases considered Houses in Multiple Occupancy considered Short Leases considered |
| MAXIMUM LOAN SIZE | £3,000,000 | |
| MINIMUM TERM | 3 months | |
| MAXIMUM TERM | 18 months | |
| MAXIMUM LTV |
up to 70% (1st charge) |
|
| INTEREST RATE |
from 0.75% per calendar month (1st charge) |
|
| ARRANGEMENT FEE | 2% | |
| PROCURATION FEE | 1% (funded from arrangement fee) | |
| LEGAL FEES | 0.35% + VAT (min £500 +VAT + disbursements) | |
| APPLICATION FEE | none | |
| EARLY REDEMPTION CHARGE | none after 3 months of loan | |
| EXIT FEE | none | |
| LENDING CRITERIA: COMMERCIAL | ||
|---|---|---|
| MINIMUM LOAN SIZE | £100,000 |
ADDITIONAL INFORMATION Properties located around and within the M25 only Loan based on Open Market Valuation Interest calculated on a daily basis Interest can be retained, rolled up or serviced subject to LTV Minimum age 18, maximum age 75 Maximum number of applicants: 4 Overseas nationals considered UK and offshore Limited Companies considered All Limited Company applications will require directors’ personal guarantees Impaired credit cases considered Short Leases considered |
| MAXIMUM LOAN SIZE | £3,000,000 | |
| MINIMUM TERM | 3 months | |
| MAXIMUM TERM | 18 months | |
| LEGAL CHARGE | 1st charge only | |
| MAXIMUM LTV | 65% | |
| INTEREST RATE | from 1% per calendar month | |
| ARRANGEMENT FEE | 2% | |
| PROCURATION FEE | 1% (funded from arrangement fee) | |
| LEGAL FEES | 0.35% + VAT (min £500 +VAT + disbursements) | |
| APPLICATION FEE | none | |
| EARLY REDEMPTION CHARGE | none after 3 months of loan | |
| EXIT FEE | none | |
| LENDING CRITERIA: SEMI COMMERCIAL | ||
|---|---|---|
| MINIMUM LOAN SIZE | £100,000 |
ADDITIONAL INFORMATION Properties located around and within the M25 only Loan based on Open Market Valuation Interest calculated on a daily basis Interest can be retained, rolled up or serviced subject to LTV Minimum age 18, maximum age 75 Maximum number of applicants: 4 Overseas nationals considered UK and offshore Limited Companies considered All Limited Company applications will require directors’ personal guarantees Impaired credit cases considered Short Leases considered |
| MAXIMUM LOAN SIZE | £3,000,000 | |
| MINIMUM TERM | 3 months | |
| MAXIMUM TERM | 18 months | |
| LEGAL CHARGE | 1st charge only | |
| MAXIMUM LTV | 65% | |
| INTEREST RATE | from 0.90% per calendar month | |
| ARRANGEMENT FEE | 2% | |
| PROCURATION FEE | 1% (funded from arrangement fee) | |
| LEGAL FEES | 0.35% + VAT(min £500 + VAT + disbursements) | |
| APPLICATION FEE | none | |
| EARLY REDEMPTION CHARGE | none after 3 months of loan | |
| EXIT FEE | none | |
We now have a new name, logo, colour palette and website londoncredit.com that is in keeping with the London Credit name.
We are moving our brand into the future by adopting a new name and trademark as part of our ongoing evolution and integration into various digital platforms and channels.
We are the same great team embracing the same philosophy:
Bridging Finance that ... goes back to basics with the same values being:
✔ Fast ✔ Transparent
✔ Flexible ✔ Approachable
A new more memorable name reflecting our efforts to differentiate our own unique identity from our other member firms. The creation of a stand-alone brand allows for more clear communication of the product and more effective use of marketing resources. As of today, the lending operations will be conducted by the UK company London Credit Limited, trading as London Credit, and the existing loans granted will be serviced until redemption by Consulco Finance, by which time the activities will have been fully assumed by London Credit.
We are committed to embracing the evolving business environment and maintaining the zeal for best practise.
