easyMoney assesses each loan application made by a borrower on the basis of track record, credit-worthiness and the value of the assets used as security for the loan.
As experienced property lenders and real estate investors, we understand the property business and look at the fundamentals of the opportunity to assess the risks on a loan by loan basis.
Once we have a good understanding of the purpose of the loan application and how we will be repaid, we will undertake detailed due diligence on the company, its directors, and the asset used as security for the loan.
All valuations are generally undertaken by a Royal Institution of Chartered Surveyor’s (RICS) valuer. Valuations are the Valuer’s opinion of the value at date of the valuation.
On bridge loans, we lend a maximum of 75% of the value of a property.
On development loans, we lend a maximum of (1) 75% of the current value of the property, plus (2) 100% of construction costs. Total lending under (1) and (2) (including all interest, fees and other costs) is capped at 70% of the anticipated Gross Development Value (namely the price that the valuer anticipates the developed property will sell for).