Once you’ve completed your registration with us you will be able to submit a loan application using our online service. Alternatively, you may wish to use one of our Affiliates who will be able to contact us directly with your application. One of our experienced Originators will be in touch very shortly after to discuss your needs and outline how we can help you with your property.
Invest & Fund will then perform all required due diligence and anti-money laundering checks and our Originator will meet with you on site to help progress your application. Following satisfactory completion of this, a set of Indicative Terms will be sent to you for review.
Once you accept the Indicative Terms and we receive all relevant fees from you we shall then instruct our panel-approved third parties to carry out their services. A valuer will inspect the property in order to obtain a current and estimated future value of the property and, should you require development finance, a surveyor will carry out an initial survey of the property and assess any proposed works.
Once approved by us, we shall issue a facility letter which will set out all the key terms of our proposal. This should be read carefully to ensure you are aware and understanding of your and our obligations. Once signed, our solicitors will work to secure any charges offered by you, will perform all relevant searches and undertake any other work required. This process usually takes 2-3 weeks depending on the complexity of the facility.
As legal due diligence nears completion your Loan Request will be placed on our Lending Marketplace for a period of 10 days in order to attract funding from our registered Lenders. At the end of the auction if the loan has been fully subscribed, and, subject to final credit approval, we shall notify you that funds are available to be drawn down. Funding is generally provided by a number of Lenders, via the Lending Marketplace, although we also have Whole Loan Lenders who may, as the name suggests, fund the whole of the loan facility.
Should you have applied for bridging finance then, subject to the steps described in Stage 5, you will receive your funds in full on the date you request. Whereas, if you are developing a property you will be able to request funds no more than once a month and in accordance with work that has been carried out, as verified by one of our appointed Surveyors and subject to credit approval, and the drawdown request being fully funded via the Lending Marketplace.