There are many different types of finance available, and we help guide our clients through the maze, to find their best outcome. With over 40 years experience in Financial Services, and with an in-depth knowledge of all elements of the sector, we are uniquely placed to provide a personalised service to each of our clients – the days of ‘one size fits all’ are certainly gone as far as Lathro are concerned.
Term Loans/Commercial Loans
Buy to Let Loans
Buy To Let (BTL) loans work differently to standard loans, and BTL loans are geared specifically to those who buy property as an investment, rather than buy it as somewhere they want to use personally. The loans can be for both residential and non-residential property. Lending can be undertaken in personal names however it is more often the case that the borrowing is undertaken in the name of a limited company. Some lenders will only lend to experienced landlords, so it is key for anyone considering purchasing an investment property that they get the right advice. Any lending is secured against the property(ies) being purchased and the rental income is used to service the monthly costs of the loan.
A development loan is a short-term funding option, usually for a term of between 6 and 24 months, and is designed to assist with the the costs involved with the purchase, and subsequent development, of a site. Generally, it is for residential property although we can source finance for commercial development also.
The funding can be used to support a full spectrum of works, from new build, conversion to refurbishment works, and can be for a single unit site through to a multiple unit site which is developed in phases. There are two major types of Development Finance loans, and we have an in-depth knowledge of both, as well as close links with lenders who actively support both types.