Crowdsourced bridging loans for better acceptance rates. We will work with you not against you to bring you a deal that is unrivalled in the UK today. We are adverse credit specialists.
Crowd sourcing so we can lend to non status and self employed. With a speciality towards bad credit application we can offer funding to stop house or property repossession.
Crowd sourced from s group of actual lenders for cheaper rates. For those with a poor credit history, we can lend as we do not do credit checks. We are peer to peer lending experts.
What is non status?
Non status is a general term used by lenders, banks and brokers to group together people that cannot, for what ever, prove their income. Whether it be because of being self employed with no accounts, being a non paid director of a firm or simply out of work, the type of funding that you would have to seek out would be a non status loan.
Call 0845 467 9798 to speak direct to the crowdsourcing bridging loan experts who are the principal lenders.
So why can people without any proof of income be able to borrow large amounts without being able to show on paper that they could pay it back? Well, bridging loans as an example are purely and simply based on the equity in the property that is going to be used as security. Depending on the purpose of the finance, whether commercial or residential, determines the LTV, which stands for Loan To Value. If you are applying on behalf of a commercial entity, typically you would be looking to have more than 65% equity built up in the building being used as security. Residential non status loans will be slightly lower. Please speak to the lender to ascertain what the LTV would be for you on a high value short term loan.
As with any secured borrowing, the house, home or property you use as
security is at risk of repossession should you default on the interest
only repayments, or if you fail to pay the whole amount within the
maximum term, which on non status bridging finance, tends to be 12
months. Again, feel free to use our contact form to initiate contact
with the lender to see if it is possible for you or your company to
obtain a non status loan.
If you feel you can only borrow on a non status scenario, then no bank or building society will lend you small or large amounts, whether you are looking for something longer term or short term loans. This is where we can help. We can set up non status bridging loans quickly. Short term loans like bridge finance have no early repayment penalties. In fact, the sooner you repay the full amount, the less you pay in interest. It is entirely in your own interest to pay it off quickly so YOU save money.
For example, if you borrow £100,000.00 and repay it within thirty days, you would only pay (based on cheap interest rates of 0.75%) £750.00 in interest charges. Seven hundred and fifty pounds for borrowing one hundred thousand pounds!
Any type of property can be accepted as security:
- Residential Properties
- Commercial & Semi-Commercial Properties
- Auction Properties
- Development Sites
- Buy to Let Properties
- Retail Shops
- DSS Let Properties
- Land with or without planning permission
Please note, typically maximum loan term is usually 12 months. Any property used as security runs the risk of repossession should you default on interest payments or fail to clear the full amount within the maximum term. Call 0845 467 9798 to speak direct to the bridging loan crowd sourcing experts who are also a group of principal lenders or enquire online by clicking the button.