Bridge Doctors
Welcome to Bridge Doctors! Designed for brokers to put their questions and deals directly to lenders and get informed explanations and responses within one day, the facility can be a broker's most useful tool when it comes to specialist forms of finance.
Please fill in the form below to get your enquiry answered by the professionals:
Most Recent Questions:
Question:When a buyer has secured a genuine discount against OMV (eg buying in bulk from the Official Receiver) which lenders will lend the highest LTV against OMV as opposed to purchase price - without requiring additional security?Answer:
Response from B&C Bridge Doctor Alan Margolis, Head of Bridging at United Trust Bank.
We would look very carefully at every case where a potential borrower advises that they have bought at a discount. Put simply, the reason proffered has to make sense and be substantiated by a valuation.
But take now as an example someone who buys say 5 flats in a block at a "discount" and wants to use all 5 flats as security. The problem here is that if the loan goes wrong and the lender has to repossess, they will be looking to sell 5 flats at once and also likely to have to offer the same "discount" to sell the properties.
Question:Is it possible to avoid paying valuation fees on a high value property £1,000,000 and a low LTV - 25%
Answer:
No matter what the LTV is - it is a necessary requirement to pay a valuation fee.
But in some cases a valuer will look at a reduced fee based on the LTV being lower.
Question:I have been asked to arrange a commercial mortgage for an overseas non EU client for property in Scotland or England. Does anyone lend to such a client & if yes what will be the max LTV?
Answer:
I would say an LTV of 70% gross with a personal guarantee from a UK resident and 60% without the guarantee. This is based on a bridging loan and it would have retained interest.
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