Covenants – Max. 65% loan to value / 80% loan to costs (whichever is the lower).
No application forms, just simple documentation submittal.
Security – 1st Legal Charge security in the main plus personal guarantees if development and we are lending to a company (UK based only).
Quick approval process.
Terms and conditions and fees confirmed at approval stage.
No early repayment fees.
No exit fees and no ‘non-utilisation’ fees.
Fees only payable on amounts drawn and paid at maturity.
1-2 year bullet loan.
Confidential process as details are not shared on RateSetter platform.
Personalised service with a dedicated credit manager
Email information to one of our dedicated account managers and receive a response within 2 business days.
A member of our team will then come and meet you on site.
You will receive a decision within 5 working days.
New build homes
£4.7 million development facility provided to an experienced developer to construct 16 houses in the East of England.
£1.2 million development facility provided to a North West house builder for 6 new build flats.
£2.8 million development facility provided to a Greater London developer to convert and extend a single house into twelve flats.
“Over the last 20 years I’ve used many different sources of business finance. Funding received from RateSetter is by far the simplest, fastest and most competitive I’ve ever experienced – their system simply works in a way banks wouldn’t understand. Not only would I not hesitate to recommend RateSetter, I have done and everyone has reported back that they feel the same.”
Piers Bingley, Director, The Haywoods Group
“My experience of RateSetter is a very positive one and I would have no hesitation in recommending RateSetter. They’re always quick to respond to any proposals and it is evident they have good product knowledge. They are extremely professional and I’ve been impressed with the speed and efficiency with which they take a deal forward, obtain credit approval and see the deal through to drawdown.”
Ian Leader, Director, SPF Private Clients