Please note that the figures below represent our best rates which are subject to location and underwriting.
The following fees will also be applied:
- Interest from 1.10% per month (subject to experience; location; loan to cost)
- Arrangement Fee from 1% of the facility.
- A Valuation Report for the land value; gross development value and build costs will be instructed by BiG and the cost will be paid for by the borrower.
- The borrower will be responsible for our legal costs in setting up the loan, circa £1,200 to £2,500 depending on the property and loan structure.
- A small fee of circa £250-£300 per release of charge will be payable to our solicitor on exit.
- A Monitoring Surveyor will be appointed to issue certificates for the value of works against which BiG will release payments. Circa £400 per certificate.
4 months to 3 years. We will always allow a minimum of 3 months extra to a facility period from the anticipated cash flow to allow for any unexpected delays.