We have reduced rates across our Semi Commercial range, with some rates reducing by 0.40bp.
Don’t forget that you should be using the Select Club product guide attached when quoting deals. It offers significant rate reductions and different product types that other brokers simply cannot access, so please do use it.
Remember you get discounts on the Commercial/Semi-Commercial pricing as well as a new Owner Occupier range, PBSA range starting at £2m+ and Holiday Let which is all just for Select Club distribution only on a semi-exclusive basis.
Have a quick glance below as a reminder of the key USPs……
SERVICE SLA – 48 HRS (for everything)
Commercial – Rates from 6.39% for Investment and 6.19% for Owner Occupied**
- Up to 75% LTV
- ICR/DSCR 125% @ pay rate (Rent or adjusted EBITDA)
- No max loan, min £150k (Select Club only)
- Interest Only up to 30 years
- 5yr fixed rates available with 1% ERC in year 4 & 5 (Select Club only – new product)
- SIPP/SASS, Trust, Trading co, SPV, LLP all considered
- Only 12 months required on commercial leases before break or expiry
- 2yrs accounts (Owner Occupiers only)
- Lend and Forget lending – No re-valuations, no providing accounts ever again, no loan covenants – simple!
- Storage/Distribution, Light Industrial, Office, Retail, Restaurants/Takeaways, Child Day Nurseries, Medical Sector all considered
Semi Commercial – Rates from 6.44%**
- As above PLUS
- No minimum resi/commercial value split required for the product – you will also stay on a semi-commercial product, no decline or commercial pricing.
- Discount available for >55% in residential value
- Pricing by loan size
- NO ERC OVERHANG
Holiday Let – Rates from 6.59%**
- Minimum loan £150,000 – Max Loan £1 Million
- Minimum income £30,000
- Holiday Let affordability – 30 week an average of the 10 weeks each at Low, Medium and high season rates.
- Experienced Landlords with either BTL or commercial experience
- For Purchase applications will require a letter from a reputable holiday lettings agent (eg Sykes or Holiday Cottages) to confirm the low, medium and high season weekly rates.
- For Remortgage applications – we require accounts showing income/occupancy or evidence of bookings over the previous 12 months.
- Brower allowed to occupy security for a maximum of 60 days per annum.
- Security to have no occupancy restrictions.
- Security would need to be in a holiday let location
BTL – Rates from 6.39%**
- Ability to lend to Trading Businesses, LLP’s, SIPP’s and complex lending structures.
- HMO’s & MUFB’s ( No Size Limit)
- Minimum loan £500,000 ( £1 Million for non-select brokers)
- No Max Loan Size
- Large Portfolio Loans available e.g. 30 properties on one application.
- 75% LTV
- HMO’s with more than 7 units will be valued on an investment basis.
- Units under 30sqm, shared utilities, broken freehold blocks can be considered.
**Based on, LTV, fee % and EPC C+ within last 24 months, updated EPC’s can be obtained.