Progressive commercial finance

Transcription

1 Progressive commercial finance Your guide to commercial mortgages and secured loans Core Products & Criteria Capital & Repayment mortgages and secured loans up to 30 years; Interest Only mortgages and secured loans up to 15 years; Buy-to-Let; Business Loans; 2% Rate option; Second Charges available Many status profiles accepted Demerit points accepted on most plans Many income sources accepted Employed, self-employed, additional income, will lend to Limited Companies, LLP, Sole Traders, Partnerships Many property types accepted including land Can cross charge any number of properties November 2016 This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing consumer credit and other specialist secured loan and mortgage acceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers.

2 Commercial Loans & Mortgages Qualifying Contracts Maximum LTV CCJs/Arrears Loan Amount Charge Type Term Minimum Valuation Commercial properties and land with less than 40% intended immediate family occupancy See plans for details 100% funding available with additional security See below for details First charges 26, ,000 (> 250,000 by referral) Second charges 26, ,000 (> 100,000 by referral) First charge, second charge or cross charge 7-30 years 75,000 (< 75,000 by referral) Acceptance Fee 3.00% (Minimum 780) Broker Fee Commission 1.25% Can be applied Income Calculation - Monthly Net Profit/Income Calculation Net profit/income + other provable disposable income* x 50% must exceed all secured lending payments. *full incomings & outgoings assessment required on other disposable income Employed and Self-employed Income accepted - please see overleaf for further details. Responsible Lending: The customer must be able to afford the mortgage/ loan. All income must be plausible. Buy to Let Portfolio Rental Income Rental Income (or Agent Assessed Rental Income) must be a minimum of 120% of the total secured lending repayments. If rent is less than 120% of secured lending payments then additional income acceptable with a Declaration of Income and Affordability. Rental income + other provable disposable income x 50% must exceed secured lending payments. Term Loans These are guidelines and all cases are subject to underwriter approval Plan Name Max Demerits Highest arrears in last number of months (all secured credit)* LMP:01 0 Purchases Remortgages Second Charges Land LMP:02 LMP:04 LMP: (2 in 6) (6 in 12) LMR:01 LMR:02 LMR:04 LMR:05 LMS:01 LMS:02 LMS:04 LMS: (2 in 6) (6 in 12) 2 4 (2 in 6) (6 in 12) LML:01 LML:02 LML: (2 in 6) LML:05 4+ (6 in 12) Max/CCJs Defaults(registered) Max LTV Max LTV by referral Property Type (0 in 24) 2 4 (2 in 6) (6 in 24) (0 in 24) 2 4 (2 in 6) (6 in 24) (0 in 24) 2 4 (2 in 6) (6 in 24) (0 in 24) 2 4 (2 in 6) (6 in 24) 65% 60% 55% 75% 70% 65% 50% 55% 50% 60% 55% 50% 60% 60% 55% 65% 60% 55% A AC A AC A AC LAND 50% 55% Case outside criteria? - we will always take a view! Notes A Type standard construction properties. C Type all other properties, `poor recorded on valuation, non-standard construction, defective, low/poor value, etc. Bankrupts discharged more than 1 year and IVAs satisfied for more than 1 year accepted. Arrears - cannot be last consecutive months, includes first or second charge arrears or a combination, cannot be deducted from the redemption figure. Explanations required Satisfactory explanations are required in all cases for arrears and defaults/ccjs. Non-conforming lender as first charge - must be with the same lender for a minimum of 12 months. LTV based on redemption figure on all cases. If the client is remortgaging or redeeming a second charge it must be in the client s best interests and to their benefit. All other standard terms and conditions apply. See overleaf for more details. Demerit Points - Arrears, CCJs, etc. CCJs and Defaults definitions (Defaults show as status 8 or D on the credit bureaux search) Unsatisfied 1 years old Rates Max Demerits Rate Rate 50% LTV Rate >50% LTV 7.90% 7.90% 300 Ignore > 300 and 3, % 9.90% 8.95% 9.95% Individual CCJs/Defaults > 3,000 and 10,000 Satisfied 1 years old Ignore Ignore Satisfactory explanation required for all CCJs, Arrears, Defaults % 11.95% 9.97% 10.97% > 10,000 Underwriter Approval Demerit points are defined as arrears, a CCJ or a Default. CCJs and Default definitions- see matrix. Secured arrears * Arrears are equivalent of 1 full calendar month payment. Arrears demerit points defined as the highest number of arrears in the last 12 months on all mortgages and secured loans for the applicant(s). Cannot be deducted from the redemption figure. Arrears to be cleared are defined as arrears as detailed on the credit bureaux or confirmation from the mortgage lender at the time of completion. Maximum arrears are the total of the first and second charge arrears. Satisfactory explanation required for all CCJs, Arrears, Defaults. Any CCJs or defaults that require an Underwriter Approval will count as a demerit. Plausible explanations and proof may be required % 12.97% 10.99% 11.99% 12.99% 13.99% Interest Only Available for up to 10 years on all term loans and mortgages 26,000 or more. By referral. Rate (Business Loans only) 2% discount for 1 year on term loans 26,000 or more. Providing the maximum difference between OMV and 90 day forced sale value is not greater than 15%, we will consider the LTV based on the OMV. Commercial Loan to Values Higher LTVs considered on the merits of the case. Additional security accepted on all cases. DMV: Market Value (The market value subject to a Special Assumption of a defined marketing (DMV) period of 90 days with vacant possession) EUV: Existing Use Value. Underwriter will discuss the valuation with the surveyor before completion. Commercial Loan to Value Guidelines Maximum LTVs based on 90 day DMV/EUV vacant possession (or equivalent), or purchase price in some instances dependent on the overall merits of the case. Bricks and mortar valuation only. Valuations are valid for a maximum of 3 months. MV and 180 day DMV/EUV may be considered dependent on the merits of the case, e.g. security, status, LTV, etc. Property Types Accepted Buy to Let Portfolios, Commercial Investment Property leased industrial/manufacturing/wholesale/office units, Equestrian Centres and House, Hotels, Land, Leisure Premises Licensed Premises wine bars, social and political clubs, Lock-up Garages, Residential/Multi-let, Residential Care/ Day Care/Nursing Homes, Restaurants Retail Units, Warehouse/Light Industrial Units, Working Farms & Farmhouses. Pubs, Bed & Breakfast, Dry Cleaners - up to 50% LTV. Considered on Merit Non-standard construction properties, lower value properties, petrol stations, property portfolios, vacant investment properties, amusement parks, golf courses, private clubs, discotheques, night clubs. Not accepted Chemical works, contaminated properties, mobile homes, sports clubs, property owned by charities, casinos. This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing consumer credit and other specialist secured loan and mortgage acceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers. Together Commercial Finance Limited BRO085_4 term

3 Single Buy-to-Let 1st charge - Product plan Prime Light Medium Heavy Plan Name LTSP:02 LTSP:21 LTSP:41 LTSP:42 LTSL:02 LTSL:22 LTSL:03 LTSL:04 LTSL:21 LTSL:41 LTSL:42 LTSM:02 LTSM:21 LTSM:41 LTSM:42 LTSH:11 Maximum Demerits Highest number of secured arrears in last number of months (2 in 12) (3 in 12) (2 in 3) Number of qualifying CCJs/Defaults demerits in last number of months (2 in 12) (3 in 12) (6 in 12) Valuation Banding 150, , ,000 - < 100,000 < 40, ,000-50, ,000-60, , ,000+ < 50, ,000+ < 60, , , ,000+ < 150,000 < 100,000 < 150,000 < 100,000 Purchases Max LTV 75% 70% 65% 60% 75% 70% 70% 70% 65% 60% 55% 70% 65% 60% 55% 60% First Charge Remortgages Max LTV 70% 65% 60% 55% 70% 65% 65% 65% 60% 55% 50% 65% 55% 50% 50% 55% Max Loan Amount ** 250, , , , ,000* 200,000 ** We will consider applications above maximum loan amounts by referral 65% LTV 6.99% 60% LTV 8.60% Variable Rate 10.60% 10.77% 12.50% 13.50% >65% LTV 7.99% >60% LTV 9.10% 65% LTV 7.99% 60% LTV 9.60% 5 Year Fixed 11.60% 11.77% 13.50% 14.50% >65% LTV 8.99% >60% LTV 10.10% Reversion Rate 65% LTV +6.74% 60% LTV +8.35% >65% LTV +7.74% >60% LTV +8.85% % % % % Rental Cover 120% (Personal income can also be used if rental coverage falls below 120%) ( = Bank of England Base Rate) Acceptable Customers: Individuals, Partnerships Limited Company Apps Ex Pat & Non UK National Applications Minimum customer loan 5,000 Acceptable Securities Single security BTL most property types considered HMO / Student Let Semi Commercial property (<40% Commercial usage) Cross charges accepted Affordability 120% ICR Projected Rents accepted Additional Income accepted No min income Fees ERCs are applicable in the first five years as follows: 4, 4, 3, 2, 1% Acceptance Fee: Tiered from 2% Commission: Tiered from 1.25% Title Insurance: Tiered from 250 Sols Costs: 0.6% net loan to 1m *See underwriting criteria for details of above tiers This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing consumer credit and other specialist secured loan and mortgage acceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers.

4 Single Buy-to-Let 2nd charge - Product plan Prime Light Medium Heavy Plan Name LTSP:02 LTSP:21 LTSP:41 LTSP:42 LTSL:02 LTSL:22 LTSL:03 LTSL:04 LTSL:21 LTSL:41 LTSL:42 LTSM:02 LTSM:21 LTSM:41 LTSM:42 LTSH:11 Maximum Demerits Highest number of secured arrears in last number of months (2 in 12) (3 in 12) (2 in 3) Number of qualifying CCJs/Defaults demerits in last number of months (2 in 12) (3 in 12) (6 in 12) Valuation Banding 150, , ,000 - < 100,000 < 40, ,000-50, ,000-60, , ,000+ < 50, ,000+ < 60, , , ,000+ < 150,000 < 100,000 < 150,000 < 100,000 Second Charge Max LTV 75% 70% 65% 55% 70% 65% 65% 65% 60% 55% 50% 65% 55% 50% 50% 55% Max Loan Amount ** 100, , , , ,000* 100,000 ** We will consider applications above maximum loan amounts by referral 65% LTV 7.15% 60% LTV 8.60% Variable Rate 10.60% 10.77% 12.50% 13.50% >65% LTV 8.15% >60% LTV 9.10% 65% LTV 8.15% 60% LTV 9.60% 5 Year Fixed 11.60% 11.77% 13.50% 14.50% >65% LTV 9.15% >60% LTV 10.10% Reversion Rate 65% LTV +6.90% 60% LTV +8.35% >65% LTV +7.90% >60% LTV +8.85% % % % % Rental Cover 120% (Personal income can also be used if rental coverage falls below 120%) ( = Bank of England Base Rate) Acceptable Customers: Individuals, Partnerships Limited Company Apps Ex Pat & Non UK National Applications Minimum customer loan 5,000 Acceptable Securities Single security BTL most property types considered HMO / Student Let Semi Commercial property (<40% Commercial usage) Cross charges accepted Affordability 120% ICR Projected Rents accepted Additional Income accepted No min income Fees ERCs are applicable in the first five years as follows: 4, 4, 3, 2, 1% Acceptance Fee: Tiered from 2% Commission: Tiered from 1.25% Title Insurance: Tiered from 250 Sols Costs: 0.6% net loan to 1m *See underwriting criteria for details of above tiers This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing consumer credit and other specialist secured loan and mortgage acceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers.

5 Single Buy-to-Let 1st and 2nd Charge - Underwriting Criteria Property Types Type A Standard Construction houses and bungalows including ex-council. Type B Reduce Max LTV by 5% (to a minimum of 50%) Flats and maisonettes (up to a maximum of 6 floors), ex-council flats and maisonettes (up to a maximum of 4 floors) and purpose built apartments (not ex-council). Type C Reduce Max LTV by 10% (to a minimum of 50%) Non standard construction; ex-council flat and maisonettes (over 4 floors), defective, high-rise (over 6 floors) or poor remarks on valuation. * Semi-commercial Max Loan Amount: 5k - 100k (> 100k by referral) Drive By Valuation Bypass Demerit Points - Arrears, CCJs, etc. CCJs and Defaults definitions (Defaults show as status 8 or D on the credit bureaux search) Unsatisfied 1 years old 300 Ignore > 300 and 3,000 Individual CCJs/Defaults > 3,000 and 10,000 Satisfied 1 years old Ignore Ignore Satisfactory explanation required for all CCJs, Arrears, Defaults. > 10,000 Underwriter Approval Demerit points are defined as arrears, a CCJ or a Default. CCJs and Default definitions- see matrix. Secured arrears Arrears are equivalent of 1 full calendar month payment. Arrears demerit points defined as the highest number of arrears in the last 12 months on all mortgages and secured loans for the applicant(s). Cannot be deducted from the redemption figure. Arrears to be cleared are defined as arrears as detailed on the credit bureaux or confirmation from the mortgage lender at the time of completion. Maximum arrears are the total of the first and second charge arrears. Satisfactory explanation required for all CCJs, Arrears, Defaults. Any CCJs or defaults that require an Underwriter Approval will count as a demerit. Plausible explanations and proof may be required. Max Loan 15,000* 50,000 75,000 Max LTV 70% 65% 50% Property Type AB Property Valuation 0-750, % Residential properties only. Not available for new builds. *Prime only Special Bypass schemes on Auction Purchases Pre-approved Auction Purchase If the applicant needs an approved amount prior to Auction, simply provide an enquiry form and details of the Auction, lot number and catalogue. A pre-approved amount can be provided so the applicant can bid with confidence! All other standard underwriting Terms & Conditions apply. *Valuation Bypass Maximum 150,000 valuation - based on Hometrack or Auction House guide. (Only available for auction purchases. Not available for commercial properties and land.) Income Calculation Net Pay Buy to Let Rental Income Rental Income (or Agent Assessed Rental Income) must be a minimum of 120% of the total secured lending repayments. If rent is less than 120% of secured lending payments then additional income acceptable with a Declaration of Income and Affordability. Rental income + other provable disposable income x 50% must exceed secured lending payments. Commission Commission (Non packaged cases) 1.25% Acceptance Fee Loan Amount 3,000-50,000 50, ,000 Unregulated Loans TSP Plans All other plans 2.5% (min 795) 2.5% (min 995) 100, , % 200,001+ 2% Title Insurance & Solicitor s Costs Loan Amount Title Insurance Solicitor s Costs 0-25, ,001-50, , , , , , , , , , , , , , , , ,000 1, , ,000 1, ,001-1,000,000 1, % of Net loan, Minimum 150 1,000,000+ By Referral By Referral For each additional security 150 n/a Acceptance Fee, Solicitor s Costs and Title Insurance are paid by applicant and added to the advance. Solicitor s costs charged on all business loans and unregulated cases and include VAT where applicable. Please refer to Quick Quote Calculator. Qualifying Contracts First and second charge residential and semi-commercial properties with <40% commercial usage with no immediate family residential occupancy. Single Buy-to-Let property applications only. Loan Terms Capital & repayment: 4 to 30 years Interest Only: 4 to 15 years for loans > 26,000. Early Repayment Charges Redemptions will be calculated as a percentage of the initial balance for the first 5 years of the term being 4, 4, 3, 2 then 1%. There will be no ERC from year 6 for the remainder of the term. Non-conforming lender as first charge Must be with same lender for a minimum of 12 months. LTVs Based on market value/purchase price. Cases <50% LTV no redemption figure required. Occupants An original or certified copy of a signed Assured Shorthold Tenancy (AST) required for Buy to Let properties. If there isn t an occupant an agent s rental assessment is required and, at the time of our loan, we will need confirmation in writing from the customer that no one is in residency. If the client s spouse is living in the property we will need a waiver with solicitors to witness and advise. Purpose of Loan A purpose of loan letter is required on all cases clearly detailing any breakdowns in purposes and amounts. Applicant s Solicitors If the loan is a purchase or the loan is over 150,000, solicitors must act for the applicant. All solicitors must have 3 or more partners within the practice, with a Law Society membership of 5 years or more. If not, please contact your underwriter. Responsible Lending Please Note: As a responsible lender the unsecured payment profile of applicants will be taken into account. As a guide please refer the case if the clients unsecured credit profile is declining or if there have been issues with unsecured payments in the past few months. Acceptable explanations may be required. The plans matrices and notes above are summaries and guidelines. All other standard terms and conditions apply. Please refer to General Underwriting & Processing Guide, Ideal Pack, and General Terms & Conditions for further details. As part of the Underwriting Process we may, on occasion, carry out additional verification checks. This may include speaking to surveyors, accountants, applicants or other relevant parties to verify details. This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing consumer credit and other specialist secured loan and mortgage acceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers.

6 Commercial Loans & Mortgages Terms & Conditions Acceptable Security Most property structures including land, with or without planning permission, and developments considered in England, Scotland and Wales. See plans for details. Minimum of 50 years + term of loan for leasehold properties. If the case is on an interest only basis and to be secured on a leasehold property typically a minimum of a 99 year lease will be required. Acceptance Fee Not included in LTV. Will be applied to all loans and mortgages. Please refer to Quick Quote Calculator. Accepted Individuals, sole traders, partnerships, limited companies, pension funds, self-employment with proof. Bankrupts/IVAs/CVAs See plans. It may be possible to clear the IVA/bankruptcy/ CVA by underwriter referral. Broker Fees May be charged on all plans and must have been agreed with the client. Commercial & Buy to Let Portfolio/Semi-commercial Loans Unregulated Loans. Where the loan is secured on property and, at the time the agreement is entered into, 40% or less will be occupied by the customer (or a member of the customer s immediate family) the loan will be unregulated. The loan is exempt from CCA Regulation and no consideration period is required. This includes loans (irrespective of the amount) that are secured on Buy to Let, semi-commercial and commercial property. It is imperative that before issuing any documentation the percentage occupancy of the property is acquired as this affects the Legal documentation. Where the customer applies for a second charge loan, the customer or a connected person does reside in the security and more than 50% of the loan will be used for business purposes, this would be unregulated due to business exemption. Commissions Maximum commission per case is based on a 200,000 loan. Commissions are paid on the loan advance (not including Payment Protection or fees). Commissions may be reduced for shorter term loans. You should disclose a monetary amount of the commission you will earn to the customer and hold confirmation on file. Development Finance/Self Build Each case considered on its own merits. Strictly by underwriter approval only. Must have NHBC, Zurich or Premier Guarantee to accompany Architect s Certificates. Early Repayment Charges Unregulated Loan/Mortgage redemptions will be calculated as a percentage of the initial balance for the first 8 years of the term, as detailed below, then 1% thereafter for the remainder of the term. Standard Loan/Mortgage - 6,6,6,5,4,3,2,1. Rate - 8,8,8,5,4,3,2,1. Single Buy to Let redemptions will be calculated as a percentage of the initial balance for the first 5 years of the term being 4, 4, 3, 2 then 1%. There will be no ERC from year 6 for the remainder of the term. Ground Rent and Service Charges When the Security is a leasehold property we will require confirmation in writing from any freeholder that all ground rent and service charges are paid and up to date. Where there are arrears these will need to be cleared from the advance and we will need written authority from the applicant(s) that they understand and authorise them to be disbursed from the loan. Identification As part of know your customer we will conduct Electronic Identification and Credit Searches. Should any information become apparent we may need to carry out further investigations which may need the broker s assistance. Non UK Passport Holders We are happy to proceed with applicants who have passports from the following countries: Any EU country, Switzerland, Channel Islands, USA, Australia, Canada and New Zealand These applications must be witnessed and advised by a solicitor. Any applicants who do not have a UK Passport or a Passport from the list above are subject to underwriter referral. UK Passport Holders Living overseas We are happy to proceed with applications where a UK Passport holder is resident in the following countries: Any EU country, Switzerland, Channel Islands, USA, Australia, Canada and New Zealand These applications must be witnessed by a Notary Public. Any applications for a UK Passport holder residing in a country outside the list above are subject to underwriter referral. Income Calculation For cases that are submitted to Together Commercial Finance Limited the total secured debt to income is also assessed. Please ensure that the Declaration of Income and Affordability is completed in full with all secured outgoings declared. Income Proof Income proof is required for all applicants in all cases. Employed - if monthly paid, 2 payslips dated within the last 3 months; if weekly paid, 4 payslips dated within the last 2 months. Additional income may be considered with proof. Self-employed/Corporate Entity (Limited Company, LLP, etc) - Company accounts SA302 (or equivalent tax certificate) Accountant Certificate / Reference They must have an Accountant who holds a current practising certificate and who is a member of one of our acceptable Accountancy bodies Appropriate evidence such as business appraisals / plans, bank statements, pay slips, contractor statements, pension statements, benefit statements, maintenance awards or other appropriate independent evidence An Accountants reference must include the applicant s: Nature of business/trade. Trading Name. Most recent financial year s profits, with a projection for the forthcoming year. Drawings and a projection for the forthcoming year. The accountants opinion as to whether the client can affords the monthly repayment of ( xxx.xx monthly payment). This reference letter will be accepted as one of the proofs of selfemployment, but a further strong proof will also be required. Personal/Business Bank Statements must show their declared income being credited to the account. An affordability verification will also be conducted. Two further strong proofs of self-employment will also be required. Property Professionals and Landlords Assured Shorthold Tenancy agreement (or Agent Assessed Rental income) or lease with a Rental Income Schedule to detail all properties and rental income in the portfolio. This can be obtained from your underwriter or Business Development Executive. Responsible lending - Accounts and projections may be required and further information, such as other indebtedness may be taken into account when assessing affordability. Personal guarantees and debentures will be required for loans to Corporate Entities. Legal & Documentation Fee Business term loans and mortgages - minimum 500, maximum 2,500. Not interest bearing and only payable on redemption. Total Advance + Broker Fees Fee > 0-50, , % Maximum Age There is no maximum age restriction for Buy to Let borrowers where employed or self emplyed income is not required to evidence affordability. For all other applications the loan should end on or before the client s 80th birthday (maximum term may be restricted for applicants of state pensionable age). If the term of the loan exceeds the client s retirement age special consideration must be given to this type of borrower as to how they will continue to support any loan once they have retired. Proof of the applicants lending into retirement explanation may be required. Maximum Loan Amount Includes loan amount, all insurances and all fees. Non UK Citizen Defined as an individual without permanent rights to reside in the UK. Personal Guarantees/Debentures These will be required in cases where the case is for a corporate entity (eg. Limited company, LLP, Pension Fund, etc) and not an individual. Purpose Any legal purpose is accepted. This must be clearly detailed on the Application/Enquiry form. Solicitors The client will need to arrange and pay for their own independent legal representation, as well as the lender s legal costs, if: - The transaction is a purchase - There is a transfer of equity - The property is not in England or Wales - The case is for a corporate entity (e.g. limited company, LLP, Pension Fund, etc) and not an individual - The loan amount is > 150,000 Client Solicitors All solicitors acting for clients must have 3 or more partners within the practice, with a Law Society membership of 5 years or more. If the client s solicitor does not fulfil these requirements please refer to underwriter. Solicitor s Costs Charged on all cases and include VAT where applicable. Please refer to Quick Quote Calculator. Independent legal advice will be required if the loan is for business purposes and for a married couple and the business only relates to one of them. On difficult, unusual cases and multiple securities solicitor s costs will be charged dependent on the merits of the case. Amount of Advance Fee > 0-100, , , % 500, % Telegraphic Transfer 30 Fee. Title Insurance Paid by client and added to the advance. Loan Amount Fee 0-50, , , , , , , , , , , , , , , , ,000 1, , ,000 1, ,001-1,000,000 1,400 1,000,001+ By referral Multiple Securities: an additional fee of 150 will be charged for each additional security. Valuations Must be dated within the last 2 months. Commercial Valuation Panel is available from your Business Development Executive. All property valuations of 1 million or more are strictly subject to underwriter approval. Additional audit valuations may be required on Properties that have a value of 500,000 or more. We require original valuations with no amendments. If amendments have been made we require all previous versions and the case will be referred and is strictly subject to Credit Committee approval. The surveyor must be within 15 miles of the property (unless by prior agreement with your underwriter). Please ask a member of the New Business Team for a copy of the current valuation panel before instructing a valuation. We will contact any valuers or other appropriate sources regarding the valuations of a property. Should any further information be discovered which is not reflected in the valuation or may have a detrimental effect on the value of the property, we reserve the right to reduce the loan amount or decline the case. For Sale Details: If the property is currently for sale with an estate agent, please supply a copy of the sales particulars. ADDITIONAL FEATURES UNREGULATED TERM LOANS AND MORTGAGES > 25,000 Rate (only available for business purposes) The discounted rate period commences for a full 12 months from inception of the account. Interest Only & Capital Repayment You can offer Interest Only or Capital Repayment with a Rate. All fees include VAT where applicable. Please note: Cases will be reviewed by the Fraud Committee for the purpose of identifying potential fraud. This will include income and valuation fraud. Should in our opinion any case you present be deemed to be fraudulent the case will be rejected and action taken by the Fraud Committee, which will ultimately result in your Accreditation being revoked. Help us to help you To ensure you contact the department you need we have devised this list of `useful numbers. Please refer to it before contacting us so that you will access the department to suit your requirements. Many thanks! New Enquiries & In Principle Decisions Team Call: Fax: commercialsales@togethermoney.com Processing Team Call: Fax: commercialunderwriting@togethermoney.com Visit our website at This information is for use only by professional finance and mortgage intermediaries for the purpose of assessing consumer credit and other specialist secured loan and mortgage acceptance criteria. Other persons should not place any reliance on the content. It must not be distributed to potential borrowers. Together Commercial Finance Limited BRO085_4 term