The applicant: they are looking to have funds in place in order to make a quick purchase of a property that they have ear marked pre auction.
Loan Required : £350,000
LTV : 75%
Borrower Commitment : £30,000
Second Charge Value : £50,000
Repayment period : 6 Months
Purpose : Secure funds prior to auction
Valuation required : No
Application : Accepted same day (agreement in principle)
Rate Applied : 0.7%
Assets & Legals : Completed within 48 Hrs*
Day 1 Drawdown : 100% of Loan
The borrower will repay the loan at 0.7% compounded monthly to £14,959 which is to be paid at the end of the term (excluding fees).