Lendco
Lendco

Lendco

Lendco are a specialist BTL and Bridging lender, formed in 2018 with the aim of eradicating some of the frustrations experienced by intermediaries in the UK mortgage market. We understand what it means to be an intermediary and the challenges that can come when servicing professional property investors. We pride ourselves on making common sense lending decisions quickly. We help place your cases, using manual underwriting and not a computer says no approach. We will provide you with a quick decision, assisted by our daily credit forums with decision makers and our BDMs are accessible and empowered to make decisions.

 

 

 

 

Proc Fees

Product Gross Net
BTL 0.75% 0.7%
Bridging 1.50% 1.3%

Key Features

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    HMOs - up to 20 beds

     
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    MUBs - no upper limit

     
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    Ex-Pats - no currency or country restrictions

     
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    Foreign Nationals

     

Overview

Register Lender-InfoBoxWhite

Register to place business with Lendco:

Step 1 –  Complete short form on our website

Register

Step 2 – ‘Request access’ email will be sent to you – follow the link to request access for our digital portal to create username/password to be able to submit business

Step 3 – Docusign the broker agreement that will be emailed to you after you register for our digital portal (only required if your firm hasn’t previously registered)

*Please select that you are a PMS Mortgage Club member when registering, placing business or checking existing payment route to ensure you receive the procuration fee quoted by PMS.

Applicant Types:

  • Ex-Pats - no currency or residency restrictions
  • Foreign Nationals (minimum £350k loan up to 65% LTV)
  • UK based foreign nationals with ILR (up to 75% LTV)
  • Trading companies
  • Layered companies
  • SPVs
  • LLPs
  • Trusts (minimum £500k loan)
  • Portfolio landlords
  • Corporate Lets to 36 months
  • Registered Housing Associations - leases of up to 15 years

Asset Types:

  • HMOs - up to 20 beds (refer to BDM if over 12)
  • MUFBs - no upper limit
  • HMOs within Multi Units
  • No limit on number of storeys within London, max 20 outside of London
  • Ex-local authority
  • Holiday lets

Lender USPs:

  • Direct access to underwriters, case managers and completions - with same contact all the way through the process
  • Daily Credit Forum - a discussion with full credit team for any bespoke cases, case exceptions or large loans
  • quick next day credit backed decisions
  • VAS panel valuations instructed by broker
  • Full proc fee on PT's - including new business rates

Bridging:

  • Light and heavy refurb
  • Land with planning (55% LTV)
  • Terms 2-36 months
  • Bridge exit - 0.10% discount on new business rates
  • Resi light refurb to 75% LTV - rates from 0.75%
  • Commercial to 70% LTV - rates from 1 %
  • Mixed use (50%+ resi) to 75% LTV - rates from 0.85%
  • Resi development exit to 75% LTV - rates from 0.85%
  • Staged Release Bridging - rates from 0.99%
  • Lend up to 75% LTV net of day one value
  • All fees are added to the loan, which means the gross is higher
  • Cost of works can be up to 50% of day one value
  • Max 70% LTGDV
  • No minimum amount for tranches

Geographical / Postcode restriction or other important note before advisers go through application process:

England & Wales only


Tools & Calculators

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