PRIVATE FINANCE PLC
Your Short Cut to Short Term Finance
Benefit from our radical approach Signature is a privately owned & funded Principal Lender, arranging bespoke financial solutions to suit the needs of the borrower. As a bespoke lender we will consider each case on merit and are not rigid or blinkered like traditional lenders. Signature lends its own funds and makes lending decisions in house, which allows it to adopt a flexible approach to short term finance. Its streamlined process also allows funding to be quickly made available to allow the borrower to react to opportunities that may arise. We lend from ÂŁ50,000 to ÂŁ500,000 for most purposes to businesses and private individuals throughout mainland England and Wales. Repayment terms range from 1 month to 12 months. All loans are based on the open market value of the property.
Due to the short term nature of bridging finance, understanding how our loan will be repaid is essential. We will therefore look for a defined exit route to be in place before funds will be released and in the absence of one, our specialist team has the expertise and experience to assist in this requirement. Signature’s dedicated team has many years of banking, surveying and legal experience, so contact a decision maker to discuss a bespoke product to suit your needs.
No delays No up-front fee, No hidden charges All you’ll get from Signature is an exceptional loan deal. We don’t spring surprise charges on you or keep you waiting for an answer. As a Principal Lender, we can make immediate credit decisions and all fees are clearly stated at the outset. We appreciate the need for a quick response & turnaround. Our streamlined process and established links with our panel solicitors & surveyors ensure deadlines are met.
Once we receive your enquiry an indicative offer is made based on your estimate of the value of the property being offered as security. If you accept this offer, we arrange for a valuation and at the same time instruct solicitors to fast track the legal formalities.
Throughout the process you will be kept fully informed of the status of your loan application, so that you remain in control of the timescale.
First Charge Commercial & Residential Bridging Loans
Product Criteria
Key Considerations
Purpose:
Property types:
Most types of residential and commercial property considered. First legal charge over residential property occupied by the borrower and/or family not acceptable.
Other Unacceptable security:
Farms, nightclubs, trading pubs, hotels, petrol stations, nursing homes and land without planning.
Property Tenure:
Freehold or long leasehold with a minimum of 60 years remaining
Property purchase, Capital raising & Refinancing against commercial or semi commercial property and Non-regulated loans on residential property in mainland England & Wales.
Borrower:
Individuals, Partnerships & UK Limited Companies considered.
LTV:
Up to 70% of OMV (Residential Property)
Amount: Interest rate:
Up to 60% of OMV (Commercial Property)
Credit history: No CCJs, mortgage arrears or defaults in the last 3 years. Any previous adverse information will be considered on an individual basis
100% LTV available with additional security
Limited Companies:
Director and/or shareholder personal guarantee(s) and debenture will be required in all cases.
Maximum loan size £500,000 Minimum loan size £50,000
Payment Options:
From 0.75% per month Charged on a daily basis
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:
Defined exit route is required for all cases.
Loan term:
Minimum 1 month, maximum 12 months
Fees:
Arrangement fee 2% Exit fee 1% Procuration fee of 1% of loan amount paid
This information is strictly for the use of professional intermediaries only and correct as at January 2012. This product guide is for use by Financial Intermediaries only and must not be distributed to the general public under any circumstances. It does not constitute an Offer of Terms. Signature Private Finance PLC reserves the right to withdraw any of the products in this guide at any time or to change or vary the actual rate quoted. Signature Private Finance PLC will consider each application on its own individual merits.
Case Study Focus: Auction finance Mr B had successfully bid on the purchase of a commercial property at auction, but failed to arrange finance ahead of the auction. The completion deadline was only 21 days away. His broker, who had been struggling to find a conventional lender that could work to that timescale, approached Signature. Signature was able to complete the purchase funding within a week, allowing the broker time to source the best long term mortgage product for Mr B.
Market value not purchase price
Purchase and part on-sale
Company A was in the process of extending its property portfolio, but was becoming increasingly frustrated that traditional finance was only available against the purchase price rather than true market value of the property as the Company was obtaining good discounts from distressed sellers. Signature were introduced and provided funding against market value rather than purchase price, which despite the higher cost, allowed the Company to purchase additional properties.
Mrs T was purchasing a distressed property already tenanted by two separate businesses, having agreed to on-sell part of the property to one of the tenants. As the on-sale could not be completed until Mrs T legally owned the property, Signature provided short term finance to secure the purchase, which allowed Mrs T to on-sell part of the property and refinance the remainder with a high street lender.
SO
What’s the next step? 1.Get in touch 2.Arrange a meeting 3.Loan drawdown & relax! Contact us today by phone 0121 746 3130 or email info@signatureprivatefinanceplc.co.uk.
It’s your short cut to short-term finance. To underline who we are
Our shareholders comprise a leading London-based property investment company and various private lenders. Syndicated funding is provided by leading UK based financial institutions.
PRIVATE FINANCE PLC
Signature Private Finance PLC. Birmingham office Avon House 435 Stratford Rd, Solihull Birmingham B90 4AA
London office 1st Floor, Highlight House 57 Margaret Street London W1W 8SJ
tel: 0121 746 3130 fax: 0121 746 3164 info@signatureprivatefinanceplc.co.uk www.signatureprivatefinanceplc.co.uk