So we covered stopping repossessions if you’re a homeowner and how it could benefit you. We have also covered stopping repossession if you own unregulated property, commercial property Buy to Let, Offices, industrial parks,etc and how LPA receivers work. What’s probably worth doing is probably give me a quick case study is actually how it all comes together as well. I’m going to do one which is quite comprehensive, which covers the regulated, unregulated and also look at the sale all at the same time of a case.

The other part is also valuing properties up to make sure there’s enough value in it. A couple of rookie mistakes by a lot of landlords are that they tend to put the properties up for sale at a slightly lower price. When it comes to Bridging finance, the property owners tend to actually put a lower price down which results in the lender down-valuing further the property. This could actually cause a problem in terms of getting the right evaluation. This is a rookie mistake made by a lot of homeowners and landlords as they are afraid of defaulting.

So one situation is that you need to have enough equity in the property to be able to value up enough to be able to get lending on the property.

How is it we can assist with Bridging when it comes to properties which may potentially get repossessed?

We do have an extensive panel of bridge lenders that can do all types of bridge lending, one of the major advantages we have is that our lender panel consists of lenders that can conduct desktop valuations which allows for our clients to avoid any survey fees and can also mean a bridge can be obtained more expediently. Sometimes bridging can be quite an expensive way of getting out of any problems however are in some cases the most probable solutions for our clients as nine times out of ten we end up having to do bridging because that’s the quickest way of dealing with receivers or dealing with home repossession type issue.

Now there is something called second charge lending, so if you needed money to pay off your fees, but you had equity setting in the property, you could put a second charge on that property. If it was a home that you own, you could put a second charge on it, because normally the residential mortgage (the first charge debt) tends to be quite cheap lending anyway. But if you want to get if you want to get to that’s a quick lending or the second charge, you can get second charge lending to raise money against your home to solve the problem with the rear, etc. Bridging has to be structured in a way that ticks all the boxes, because if you’re borrowing money and it’s not for business purposes, it’s not to probably deal with the property portfolio matter then it’s deemed to be regulated.

So second charge lending is also filled with a lot of complexities, but that is where we come in and with our extensive panel of second charge lenders that can lend quickly, so we’re always there around the corner to solve your problem.

We also do development lending as well, but in terms of development lending very simple. The better the net margin for the development project, the easier it is to get favorable lending.

If you’ve got poor credentials or haven’t gotten experience, we can actually find you developers that will do the project or the longer the project got a good net margin in it. Those of you don’t know what good net margin is. It means that if the cost of buying the project is 2 million build cost is 2 million and the resale is 6 million, then the profit on that would be approximately 2 million. Development lending is a little bit more complicated because there’s a lot more variables involved in terms of getting lending.

The third topic we’ve got revolves around valuing properties up for sale. So as we already mentioned the major issue, which is that a lot of homeowners and commercial property owners that tend to value the properties down to sell it quickly. But if they want to finance it and they shoot themselves in the foot because they haven’t built up enough equity with the sale price to show that will allow them to get the finance they need. So it’s very important that you’re not doing things without talking to us because I could probably be saving you. Normally, I tend to save people ten times the amount of money I get paid for my work. So for every £5000 I get paid, my worst case saving tends to be £50,000.