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5. Regulated Bridging Loans

Do you offer second-charge mortgages?

We lend on a 1st-charge basis only.

Do you lend to first-time buyers?

For a single applicant, we cannot accept first-time buyers. However, on a joint application, as long as one applicant is not a first-time buyer, we can accept this

Do you lend to expats?

No.

Do you lend to foreign nationals?

Borrowers do not need to be UK Citizens but must have been a UK resident and have been in the UK for 3 years, or have a permanent right to reside in the UK.

Can I approach you directly?

Our Regulated Bridge product is only available through intermediaries.

Do you have a minimum/maximum age you lend to?

Our minimum age is 21. We do not have a maximum age limit where sale of existing property or proceeds of probate is the agreed repayment strategy.

If refinancing forms part of the agreed repayment strategy, a maximum age limit of 75 years old at the end of term will apply.

Do you accept investment properties as additional security?

We will only accept security against property if it is your current or intended property. 

Do you lend in Scotland?

No. Our Regulated Bridging Loans are currently only available in England and Wales.

Are your rates based on NET or gross loan-to-value?

Our interest rates and our fees are based on the net loan amount. 

What evidence is needed to prove serviceability on a regulated bridging loan?

If the intended exit is to sell your existing property, then there will be no evidence of serviceability required, as income is rolled. 

If the exit is refinance, we will require evidence of income, which could include seeing payslips, bank statements and DIP from the exit lender.

What is the minimum income necessary to be eligible for a loan?

If the intended exit is to sell your existing property, we do not have a minimum income requirement.

If exit is refinance, we require the income to be sufficient for the exit lender to provide the refinance. The income declared to the exit lender needs to be reflected.

Will you need to see proof of deposit? What form should that proof take?

Yes we will; through bank statements and the source of deposit.

Do you allow dual legal representation?

We accept both separate and dual representation. If the client opts for dual representation, we will appoint a solicitor on our panel to act for both us and the client.

Do you allow a borrower to provide a gifted deposit?

Yes, under the following circumstances if any of the deposit is gifted:

  • Gifted deposits can only be accepted from a close relative, full details of whom must be disclosed
  • The identification of the person(s) gifting the deposit must be satisfactorily established
  • Appropriate deed of gift indemnity insurance will be required.

What is your procuration fee?

We offer a 1% procuration fee as standard.  

Will LendInvest collect my broker fee?

No. If you are charging your client a broker fee we will not collect it, nor will we be adding it to the loan. You will need to make your own arrangements to invoice your client.

Where can I find your full criteria?

Our full criteria is available in our product guide, which is available for download on any of our product pages.

How do I register for the regulated bridging portal?

After registering with the right information we will check your FCA number, then notify you when you have been given access.

How do I submit a DIP and ESIS?

You generate a DIP and ESIS by completing the necessary information in the portal, it will then be automatically submitted to our team.

What happens after they are submitted?

You will be assigned a BDM who will contact you to discuss your application.

Do you do a soft credit search at DIP stage?

No, we do it after the FMA is signed.

If I don’t have all of the answers can I save my application and return?

Yes. Press save before exiting your application and it will keep all of your answers while you get any extra information you need.

Who do I call for support during the application?

Your assigned BDM will be on-hand to help with any questions.

How do I submit a FMA?

The full mortgage application can be completed in the portal through the online form. It is submitted once it is signed by all applicants.

What is Docusign?

Docusign is a secure tool we use for you and your client to provide their signatures electronically, rather than being required to print off documents to sign them, scan them and then send them back to us.

What happens after the FMA is submitted?

You will be assigned a case manager and underwriter who will contact you to introduce themselves. They will be your point of contact throughout the underwriting process.

How will I track the progress of my case?

Our case manager and underwriter will be on-hand should you have any queries, and we will keep the application page on our portal up-to-date with what stage it is on.

Do you accept 3rd party charges?

No.

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