At 177 Mortgages we are not just mortgage experts. We can also help you find the right specialist finance product for your complex lending needs. Here are some of the ways that our Specialist Lending Department can help you.
Development Exit Finance
Have you just completed a housing development and need a little bit more time to sell? Perhaps you are at the wind and water-tight stage and wish to see if you can improve your borrowing rate? Development Exit Finance is usually used if the existing development finance is coming to an end and the sale of the property is still not complete. It can reduce the amount you are paying on your senior debt and give you up to an extra 18 months to sell the properties.
The application process is not as strict as other types of property finance because the development is complete so there is limited risk for the lender. They also have the development to act as substantial security for the loan. Lenders will want to know how the developer plans on repaying the finance. They will also look at the type of property and its current demand in the market. The Specialist Lending Team at 177 Mortgages can offer market-leading rates and lending up to 70% LTGDV.
First time developer finance
If you’re considering your first residential development, you may be struggling to find the right finance options. Especially trying to deal with the traditional type of lenders. As well as this, the processes involved can be complex and difficult to navigate. From concept, the purchase of the land, planning permission, construction and the sale or refinance.
At 177 Mortgages our Specialist Lending Team are experts in guiding first-time property developers through the entire process. We have an excellent relationship with multiple private funding lines that offer collaborative lending. Complete with strong support networks to get your idea (quite literally) off the ground. The team can offer market-leading rates with specialist lenders lending up to 70% LTGDV.
Second Charge Finance
Second charge mortgages are forms of secured loans. They use the equity in your home as security for the loan. They are a quick way to raise money, for people that may not be in a position to complete a simple remortgage. For example, if you are self-employed, your credit rating has gone down or you will incur an early repayment charge. Or if you’re struggling to get some form of unsecured borrowing, such as a personal loan.
You’re only eligible for a second charge mortgage if you already own the property but you do not necessarily need to be living in it. As the second charge mortgage is based on the equity available in your property the amount you can borrow will be determined by this equity. Your existing mortgage lender may also have to be consulted on the terms of the proposed second charge loan.
Property finance for British Expats
If you’re looking to purchase residential or investment properties in the UK but are an Expat, it can be difficult to secure funding. Or perhaps you are looking at buying a commercial property or are interested in a development. At 177 Mortgages our Specialist Lending Team are experts in securing all kinds of property finance for British Expats and non-domiciles.
We can source both conventional mortgages and specialist bespoke finance for individuals looking to purchase residential, investment, commercial or development properties in the UK. We can source finance from a multitude of UK banks as well as specialist lenders. They offer shorter-term finance and mortgage solutions specifically designed for international clients.
Specialist Finance for Foreign Nationals
If you are a non-UK citizen and are either buying or refinancing a property in the UK, finding funding can be extremely difficult. It can be difficult accessing specialist finance, in addition to more conventional funding streams, to purchase property in the UK. This is mainly due to the sometimes strict and inflexible lending criteria from most UK-based lenders.
At 177 Mortgages our Specialist Lending Team have strong relationships with specialist lenders and private banks offering a number of products not usually found on the high street. Products that are tailored for non-UK citizens buying or refinancing property in the UK. We can help with mortgages, short-term finance and commercial finance for individuals, limited companies, partnerships and trusts.
177 Mortgages Specialist Lending Team
The team will identify your lending needs and will recommend a funding arrangement tailored specifically to your needs. And like all our mortgage services this service is fee-free.
Speak to our team about Specialist Finance today
Call our Specialist Lending Department on 0800 098 7177 or fill out the form below and we will be in touch.