Our flexibility allows us to support property investors who are likely to be turned away by mainstream lenders. This could prove especially useful in the current market. Ongoing political and economic instability has resulted in many high street banks tightening their criteria.
Those with less than perfect records may struggle to move forward with their investment plans. But, we’re open to queries from a range of complicated backgrounds. We look at a borrower’s entire picture, as opposed to solely focusing on the financials.
Our underwriter embraced this commitment to flexibility. A client turned to us as they required funding for a commercial property. But a number of issues had to be ironed out to progress.
Difficulties in your past do not need to hinder your future
During our checks and discussions with the client’s mortgage broker, there appeared to had been some adverse credit within the past 12 months. While a mainstream lender may have dismissed the case outright at this point, our underwriter looked for a solution. They could see that the client was now in a healthy position, and that the property being invested into held a lot of long-term potential.
What’s more, our funding would provide breathing space for the client. Allowing them to clear their debt obligation, and remove the barrier to securing refinance later down the line. With the strength of the underlying asset, coupled with the client’s solid planning, our underwriter was happy to issue the loan.
The financial world is complicated, but we don’t shy away from it
Borrower’s may have seen their financial records take a hit in recent years. The pandemic, and its aftermath, hit businesses and individuals across the UK. Unfortunately, we’re starting to see how this challenging environment is affecting bottom lines.
Mortgage approvals have dropped to their lowest level since June 2020. Meanwhile, consumer credit reliance has risen. But, where mainstream options struggled in the 2nd half of 2022, the specialist market went from strength to strength.
As property investors face down the challenges of 2023, they may be able to find comfort in the specialist lending market. We understand how the real-world works, and we’ll factor that in when we hear from you.
- Featured Product: Commercial Bridging Loan
- Explainer Video: Commercial Bridging Loans
- Tool: Bridging Loan Calculator
- Report: The race to remortgage
- Blog: What does an underwriter do?
- Blog: A simple guide to credit scores