Some loans secured on property are regulated mortgages, which we do not arrange. Answer three simple questions to see where your loan is likely to sit.
Is every borrower a limited company or an LLP?
If any borrower is an individual, a trustee or a partnership, the answer is no.
As the borrower is a company, the loan is generally outside the mortgage rules.
Does the borrower, or a close family member, live in the property or plan to?
Count it as yes if they live, or will live, in 40% or more of it. Close family means a spouse, civil partner or partner you live with, or a parent, brother, sister, child, grandparent or grandchild.
A loan secured on a home you or your family live in is likely to be a regulated mortgage. We may be able to introduce you to an authorised firm that can help.
Is the loan for a business purpose?
For example, a property business or a business you run. Paying personal debts or improving your own home does not count.
The lender will ask you to confirm the business purpose in writing before it lends.
The loan may be regulated. Call us before you apply and we will explain your options.
Please note. This chart is a simplified guide only and is not legal or financial advice. Whether a loan is regulated is decided by the lender, and the broker where relevant, on the full facts of each case. If you are unsure, please speak to us or take independent advice.
We welcome every enquiry. With access to a wide panel of specialist lenders, it is always worth a conversation to see how we can help.
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