Cambridge & Counties Bank

Mortgage Type

Bridging Lenders

Property Value (min)

Commercial - Loan to value maximum 60% based on the lower of the purchase price or acceptable vacant possession valuation. Residential - Loan to value maximum 70%, based on the lower of purchase price or acceptable valuation.

Advance (min)

£150,000 per property

Advance (max)

£2,500,000 per property

Term (Max)

18 months

Minimum Age

18 years

Maximum Age

No maximum age

Family Cash Gift Deposit

Yes - 'Deed of Gift’ required from the family member to ensure there is no potential prior equitable charge.

Family Gift of Equity Deposit

Yes - 'Deed of Gift’ required from the family member to ensure there is no potential prior equitable charge.

Income (min)

ALIE evidence – Audited accounts; short form accounts; tax return (2 years); Bank statements (6 months) for all loan commitments and current accounts of the borrower; passing rental income for asset offered as security or total customer rental income if available.

Restrictions

Experienced landlords and property companies. Not first time landlords or property investors i.e. minimum 2 properties for a minimum of 2 years or suitable professional property experience.

DWP Tenants

Accepted

Ex-Local Authority Properties

Houses and flats considered - Up to 70%

Minimum years remaining on leasehold property

Reviewed on a case by case basis

Minimum Ownership

No minimum ownership period before remortgage considered. Will lend against OMV within 6 months subject to criteria. Happy to consider a remortgage to 100% of funds spent and cost price on refurbished properties

Permanent rights to reside and remain

Yes (unless Ex-Pat)

New Builds

All new builds considered.

Credit Score

No

Historic CCJ’s & Defaults

No current bankruptcy or IVA

Valuation Fees

Valuation fees paid direct to lender at the lender fee scale.

Maximum number of applicants

No maximum

Countries

Will lend in England, Scotland and Wales

Access

Access to Cambridge Counties is available via selected packagers only.

Missed mortgage payments

Considered on a case by case basis

Property Type / Commercial

HMO’s, student BTL. Multi-unit on 1 title, semi commercial, commercial investments units plus owner occupied commercial units. Available to trading Ltd Co. SPV’s and individuals. Plus Lending to Trust’s, SIPP/SAS
Allow single name into a limited company name using a directors loan and must be at market value
Must be UK registered
No to First Time Landlords.
First charges on land and buildings, personal guarantees from business owners/directors required.

Location

Will lend in England, Scotland and Wales

Type of Credit Search conducted at AIP stage

Hard foot print upon full application

Condition

Residential - All residential property types must be suitable to be let on AST terms only. Commercial - Commercial investments only to be let on commercial terms only. Excludes trading assets.