Joe Sucharewicz

CSBF plans to double loan book

Common Sense Business Funding (CSBF) has revealed that it intends to double the size of its loan book and increase the number of brokers it works with.

The principal lender — which offers funding for commercial and residential investment properties across the whole of the UK — currently has just under £17m of funds out in loans.

It has two core short-term secured finance products: its AAA loans, which are offered from 0.25% per month for loans below 40% LTV, for a term of six months or less, and have interest serviced monthly, and its AAB loans, offered from 0.5% per month for loans with LTVs below 50%, have a term of nine months or less and have interest serviced monthly.

Joe Sucharewicz, director at CSBF (pictured above), said: “‘We do good rates for good deals’ is the best way to describe [our niche].

“So, we want good, strong LTVs, sensible deals and, as a result of that, what we really offer the clients are low rates.”

He claimed that the lender’s average rate was around 0.5% per month.

However, it aims to apply a “commonsense approach” to its underwriting process.

“Some brokers we speak to say: ‘Send us a full product matrix.’

“They're very mechanical about things and they want to see all the different products, all the different rates, what LTVs get you where and what considerations come through.

“And I completely understand that way of working, [but] we are trying to avoid that.

“Because what we don't want to do is to fall into a scenario where we are purely mathematical. 

“We want to apply a commonsense approach to our underwriting process.”

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