Buying a property can be the biggest decision made in our lives. It is for this very reason that it is critical to obtain expert advice from qualified advisers.
We are highly experienced in the finance and property fields, and have detailed knowledge of specialist lending geared at property investors, such as buy-to-let mortgages, property development finance and the bridging loan sector.
We can arrange 1st, 2nd and 3rd charge loans on residential and commercial property or land (with or without planning permission.)
Looking for short term funding?
Cherry Mortgage & Finance can be relied upon to deal with all cases quickly and efficiently, and to deliver fast bridging loans and short term property loans that solve financing requirements on all types of residential and commercial property transactions. Flexibility, fast decisions and reliability is crucial in this fast paced property finance sector – we deliver on our promises.
Every bridging loan is different. The maximum loan is dependent on the property being offered as security. All bridging lenders price individually. We might produce a variety of options before arriving at the perfect one for a project or client. It's a necessary part of the application process and one that we take seriously.
Market leading rates
Up to 100% of purchase price available (with additional security)
Terms from 1 - 18 months
Loans from £10,000 to £50,000,000
Interest can be retained, rolled, serviced or a combination of these options
Available to individuals, LLP's or limited companies
Lending in England, Scotland and Wales
We are members of the Association of Bridging Professionals AOBP provides a service to stakeholders in the bridging finance industry by providing a forum for discussion on non-competitive issues, acting as a trade body to help promote a favourable operating environment and providing information to assist them in their business.
Buy to Let Mortgages are for those wishing to invest in residential rental property. Although the perception is that buy to let mortgages are expensive, this isn't necessarily correct. There are many lenders who offer competitive rates, which in many cases are generally similar to the rates offered on a standard mortgage.
Landlords also have a choice between interest only and repayment mortgages. Buy to let mortgages do differ in several ways from standard mortgages. When lenders are considering approving a buy to let loan, they generally base their decision on the likely rental income from the property and not necessarily the applicants' income. With our expertise in this market, we can help you find the best product to suit your requirements.
With our extensive access to thousands of mortgages and our knowledge of lender's requirements, we can find you the right buy-to-let mortgage.
Call us today as our range of specialist Buy to Let mortgages cater for those enquiries that possibly don't fit the mainstream mortgage market, such as:
- Student lets or HMO's
- Limited company/ offshore company application
- Unsuitable property
- Renting to family members
- Property portfolios
- Minimum or no income
- Ownership less than 6 months
- Quick completion necessary
- Ex-pat and Foreign Nationals
- Unusual, complex legal requirements
Property development finance lies at the core of every successful development project. With effective property development finance you can devote all your energies to the smooth running of your development project, secure in the knowledge that you have a firm financial foundation to build on.
Many providers of property development finance do not fully understand the property sector, and have little appreciation of the unique challenges and issues that it presents. As a result, many property developers find themselves constrained in their ambitions and have to take finance packages that are not ideally suited to their circumstances. Cherry Mortgage & Finance is different.
As property development finance experts, we strive to foster strong personal relationships with all of our clients. Unlike some finance providers, we prefer to deal with our clients as individuals, arranging face-to-face meetings to introduce ourselves and our services to developers. We work hard not to appear as a faceless institution to our clients, and actively encourage them to approach us whenever they need help or advice.
This hands-on approach often leads to a continuing relationship with our clients across a series of successive projects, and the forging of a lasting partnership that proves mutually beneficial to both parties.
Frequently asked questions
Q. How quickly can I get a decision?
A. Many lenders can produce an 'in principle' decision within a few minutes.
Q. How quickly can a formal offer letter be issued?
A. Within 24 hours of an approval being given, dependent on the lender and subject to valuation.
Q. How quickly can funds be advanced?
A. If your solicitor has the relevant documentation to hand, within 2/3 working days of an offer letter being accepted. The average time is 3/4 weeks.
Q. For residential development loans what percentage of the site purchase and construction costs can you advance?
A. Many lenders can lend 100% of the construction costs and the percentage they lend towards a purchase is agreed individually on each facility.
Q. Can I obtain more on a joint venture basis?
A. Yes, with additional security some lenders will consider this.
Q. What are the costs involved?
A. This can vary tremendously based on your circumstances and requirements. A fixed interest rate and arrangement fee will be agreed individually with each borrower and interest is only normally payable on sums drawn down for the period they are borrowed. There are surveyors and solicitors fees, the level of which depend on the size and complexity of the project. Redemption fees may also be agreed by the lender individually on each facility.
Please note that the FCA does not regulate most forms of Development Finance
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE
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Find out what we can do to help you with your finances. Get in touch with us today!