Borrower FAQs
A. The Process
Once I apply for a loan, how long will it take to process?
Our Relationship Directors will meet with you soon after an enquiry or application has been made.
They will collect the required information needed to write a credit report. This will take 2-3 days to write and then will need to be checked.
Upon successful sign off by our credit team the legal process can begin. The timescales for this process can vary dependant on the responses from the clients nominated solicitor. Our underwriting facility means that once all the paperwork is in place, loans can be funded immediately upon completion of the legal process.
How can I apply for a loan?
To apply for a loan simply register as a borrower and one of our Relationship Directors will get in touch with you to collect the some initial information. Alternatively, contact your finance broker, who will be able to help you with the application process.
B. Fees
What happens if I miss a repayment?
Whilst we remain sympathetic to cashflow issues that may mean repayments are missed, this remains an Event of Default. If a payment is not made on the due date, Assetz Capital has the ability to charge default interest (as advised in your Loan Agreement) on the balance of the loan until the missed repayment is made. Should this not happen, and should a new agreement not be reached then Assetz Capital ultimately has the ability to call up any and all of the security you have granted to obtain full repayment.
Are there any extra charges from borrowing money through Assetz Capital?
Whilst there are charges for borrowing money from us, these are generally negotiable and will be agreed prior to any loan being listed.
Is there an early repayment fee?
Whilst we do not generally charge early repayment fees some loans may attract a minimum charging period, although this will be advised and agreed prior to any loan being listed.
C. General
Why do borrowers not go to the banks if loans are secured?
Since the credit crunch and start of the recession, the appetite of banks for risk has reduced significantly and this means they have tightened their lending criteria. As banks are very large organisations, they have to set and enforce strict criteria across the board. This can lead to inflexibility and there are many borrower proposals which are rejected by banks for failing to meet lending criteria in a very limited way.
As a smaller organisation with a lot of lending experience on the team, Assetz Capital is able to be flexible and use judgement as to whether proposals are worthy of support, despite the fact they may not fully meet a clearing bank’s lending criteria.
Do I have to disclose personal information to investors?
The choice is yours as to how much information you wish to divulge and if the business is to remain anonymous. Some lenders choose to do additional due diligence of their own, so disclosing as much information to them as possible can be advantageous. They may wish to visit your website or look at your competitors before they make a decision to lend.
What type of loans can Assetz Capital facilitate?
Assetz Capital provides fast and flexible finance to UK SMEs and Property Developers through an established community of lenders. We can facilitate:
- Commercial mortgages
- Secured SME term loans
- Development finance
- Buy-to-let for Landlords
- Bridging finance
Intermediary FAQs
A. Arranging a loan with Assetz Capital
How quickly can my client get a loan?
One of our Relationship Directors will meet your client soon after an enquiry or application has been made. They will collect the required information needed to write a credit report. After which they’ll need to be checked and vetted by our credit team.
Upon successful sign off by our credit team the legal process can begin. The timescales for this process can vary dependant on the responses from the clients nominated solicitor. Our underwriting facility means that once all the paperwork is in place, loans can be funded immediately upon completion of the legal process.
How much can my client borrow?
The amount your client can borrow depends on the type of loan. You can find out the minimum and maximum facility sizes by viewing our loan price guide.
What information will you require from my client for an application?
View our ‘Deal Accelerator’ guide in the intermediary resource section for our information checklist.
What type of companies do you lend to?
We consider lending to many company structures and individuals across many different industries.
Do you arrange face-to-face meetings with the borrower?
Yes, we like to meet every potential borrower in order to better understand their needs and provide the best possible solution for your client.
How do I keep track of my client’s application?
You can speak to your dedicated Relationship Director or you can call our centralised head office support team on 0800 470 0430 selecting option 3.
B. Fees and repayment
Can my clients pay their loans back early?
Whilst we don’t generally charge early repayment fees some loans may attract a minimum charging period, this will be advised and agreed prior to full application.
Can my clients make overpayments?
Yes, however some loans may attract a minimum charging period, this will be advised and agreed prior to full application.
What fees can my clients expect?
Whilst there are fees for borrowing money, these are generally negotiable and will be agreed prior to full application.
C. Lending criteria
Does you lend to ex-pats and foreign nationals?
Yes, we consider lending to both ex-pats and foreign nationals.
Can my clients have more than one loan from Assetz Capital?
Yes, they can.
My client has never developed property before, can they still get finance?
We assess every enquiry on its merits rather than adopting a tick box approach. So if your client is a first-time developer, with an experienced project manager we’ll try to make it work.
Do you lend to first time buyers?
Yes, we’ll consider first time buyers for Buy-to-Let purposes.
Will you lend on inter-family sales?
Not if the family member was to remain as the tenant post sale.
Is there a maximum number of BTL properties an applicant can own?
There is no limit to the size of the applicant’s portfolio. The individual loan must remain within our maximum loan limits.