Your Loan Example
Net loan amount
Loan amount required before interest, fees or any other costs have been added.
Broker fees (2%)
Calculated as a percentage of the net loan amount. Amount of broker fee is illustrated, and the percentage charged is shown in brackets.
Lender facility fee (0.5%)
Calculated as a percentage of the net loan amount. Amount of facility fee is illustrated, and the percentage charged is shown in brackets.
Net loan including fees
This is the net loan amount plus fees.
Monthly interest rate
Monthly rate of interest charged on the loan facility.
Average monthly interest
This is the average monthly amount of interest charged based on the full term of the loan. Interest is calculated on the loan balance each month and then added to the facility.
Interest if the loan runs the full term
This is the total amount of interest that will be charged if the loan is cleared at the end of its term.
Loan to value (LTV)
This is calculated using the loan amount plus any mortgages left in place, and the total value of the properties used as security.
These fees are incorporated into 'Net loan including fees' shown above.
This is the estimated cost if a full valuation is required on the properties offered as security. This figure maybe reduced if a desktop, drive by or existing valuation is sufficient for the lender.
Lenders administration fee
Most lenders charge administration fees, the amount of which can vary. The fee shown is for a typical plan.
Estimated lender legal costs
Borrowers are required to pay all legal fees incurred in relation to arranging their loan.
Lenders are charged a CHAPS fee for sending the proceeds of the loan to their solicitor. They claim this charge back from the borrower.
Redemption administration fee
Lenders charge an admin fee to remove their charge over the property when a loan is repaid.
Exit fee (0%)
Some loan plans have exit fees. Almost all of our loans do not.
Redemption amount at full term
This is the estimated amount required to repay the loan if it runs the full term.