You are here: Home - News -

Instant finance for short-term property investors

by:
  • 10/08/2001
  • 0
Clients looking to invest in the short-term property market can now get specifically designed buy-de...

Clients looking to invest in the short-term property market can now get specifically designed buy-develop-sell mortgages to provide near instant finance, writes Ben Marquand.

The mortgages have been developed by specialist lender BM Samuels and are targeted at clients who want to move into the short-term property redevelopment market where they often need to raise finance quickly. The lender promises immediate in principle offers subject to valuation, which means completed offers may take effect within days.

The non-status deals are available up to 70% LTV for property purchase plus 100% of the development costs, with a minimum loan of £25,000. The rate varies between 1.6% and 1.75% per month, depending on whether the broker takes a commission. There is a minimum loan period of three months, but the typical loan period is between six and nine months. However, unlike bridging loans there is a flexible end date to the loan, so any unforeseen problems can be dealt with before the property is resold.

Bernard Samuels, chairman of BM Samuels, said: ‘While many lenders have targeted investors in the buy-to-let sector which involves a long-term commitment, we believe there is plenty of demand from both residential and commercial investors and developers who are seeking a slice of the short-term property redevelopment market and need the right lender to back them.’

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
Exclusive products from Exchange

By Ben Marquand The Exchange is set to launch a new range of mortgage services which will include ac...

Close