PRODUCTS 

Standard Lending Criteria

We have 4 core products which have similar lending principles. Below is a summary of the key commercial lending terms and outlines our lending price. Note that these items are all subject to change based on the circumstances of a loan and the needs of a borrower.

OUR PRODUCTS

Bridging graphic
Bridging
Development
Agri
SME
Commitment term
Up to 2 years
Up to 3 years
Up to 3 years typically
Up to 3 years typically
Interest
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service).
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service).
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service).
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service).
Max LTV
Core security must lead to a maximum 70% LTV if loan is being serviced / 60% if ISCR.
Core security must lead to a maximum 70% LTV GDV 60% for land value day one.
Core security must lead to a maximum 70% LTV GDV 60% for land value day one.
Core security must lead to a maximum 70% LTV if loan is being serviced / 60% if ISCR.
Typical Debt Range
£/€200k to £/€5m
£/€200k to £/€5m
£/€200k to £/€5m
£/€200k to £/€5m
Bridging graphic
Permitted collateral
Commercial property, residential property (excluding PDH / PPR), agricultural land, land with planning permission.
Bridging graphic
Not permitted collateral
Land without full planning permission (excluding agricultural land), care / nursing  homes, listed properties, mobile homes, houseboats, golf courses, petrol stations and properties with environmental contamination.
Bridging graphic
Bridging
Up to 2 years typically
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service)
Core security must lead to a maximum 70% LTV if loan is being serviced / 60% if ISCR.
£200k to £5m
Development
Up to 3 years typically
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service)
Core security must lead to a maximum 70% LTV GDV 60% for land value day one
£200k to £5m
Agri
Up to 3 years typically
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service)
Core security must lead to a maximum 70% LTV GDV 60% for land value day one
£200k to £5m
SME
Up to 3 years typically
Interest Service Cover Reserve (ISCR) or Serviced (if customer can service)
Core security must lead to a maximum 70% LTV if loan is being serviced / 60% if ISCR.
£200k to £5m

CASE STUDIES

Case study

Bridging
This loan involved an SPV owned by a businessman who needed to refinance assets from a peer-to-peer lender.
Read more...

Case study

Development
This loan involved an SPV owned by a trading group who needed to refinance assets in order to fund wider development activities.
Read more...

Case study

SME
This loan involved as SME operating in the logistics sector who required working capital.
Read more...

THE PROCESS

Whilst the 4 products above have different purposes, our lending process is very similar. 
‍
BCF have progressed from initial discussions with a borrower to drawing down funds in as little as 2 weeks, though typically the process from initial enquiry to drawdown is on average c. 5-8 weeks.
‍
We would emphasise that we are as quick as the borrower, and if good information is provided with motivated solicitors, we will be very prompt.
Issue HOTs
Credit Approval
Legal and Due Diligence
Drawdown
Loan Monitoring
Issue HOTs
Once a borrower or an introducer gets in touch with information about a lending requirement, we will turn around indicative Heads of Terms in 2-4 working days. 

THE PROCESS

Whilst the 4 products above have different purposes, our lending process is very similar. 
‍
BCF have progressed from initial discussions with a borrower to drawing down funds in as little as 2 weeks, though typically the process from initial enquiry to drawdown is on average c. 5-8 weeks.
‍
We would emphasise that we are as quick as the borrower, and if good information is provided with motivated solicitors, we will be very prompt.
Issue HOTs
Once a borrower or an introducer gets in touch with information about a lending requirement, we will turn around indicative Heads of Terms in 2-4 working days. 
Credit Approval
Credit Approval
If a borrower wishes to progress, BCF will issue Credit Approved HOTs. These are then signed by the borrower.
Legal and Due Diligence
Once the borrower signs the Credit Approved Heads of Terms, BCF immediately commence Legals. Valuations and commercial DD will also commence as required.  
Drawdown
Post completion of legals and due diligence funds are transferred to solicitor’s accounts and are drawn down.
Loan Monitoring
Regular discussions are scheduled post drawdown to discuss the loan with the borrower. For Development loans, QS visits to be scheduled as necessary.
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