Products and Rates

Market Leading Rates

In Summary...

• First charge rates from 1.25% pcm with a daily interest calculation
• Up to 70% loan to open market value
• Loan size from £30k to £1m
• No upfront or exit fees
• Daily interest charge after first month
• Loan duration 1-9 months
• Low Valuation and legal fees at cost
• Retained interest option
• Fixed 1% Arrangement Fee

In Detail...

First Charge Residential Property

Mixture of First and Second Charge Lending

A number of our clients have significant equity in either their home or a second property. Therefore BFS is able to provide up to 100% of the funding required by taking a first charge on the property being purchased and a second charge on the additional security.

Costs and terms:

We do not lend on a second charge basis as a stand alone transaction.

General Lending Criteria

General lending exclusions:

The following property is not acceptable security: a. Concrete Construction; b. 100% Timber Construction; c. Steel frame construction; d. Right to Buy; e. Flats above food premises with A3 use or adjacent; f. Houses in Multiple Occupation; g. Holiday Lets; h. Occupancy restrictions eg. Retirement flats; i. Property less than 10 years old without NHBC / Zurich Municipal Guarantees or architects certificate; j. Not wholly owned by borrower i.e. shared ownership; k. Development schemes requiring phased QS draw-downs; l. Freehold flats or maisonettes; m. Flats with more than 4 units in 1 block; n. Unacceptable security as determined by appointed surveyor e.g. Structural issues.

The information on this page relates only to unregulated mortgage contracts. For avoidance of doubt, we are unable to assist if you are offering a first legal mortgage over a property where at least 40% is used, or is intended to be used, as or in connection with a dwelling by the borrower or their immediate family.

Your home may be re-possessed if you do not keep up repayments on your mortgage.