Finding the right solution for all customers’ specialist lending needs
Clever Lending is an expert in specialist lending and one of the most trusted specialist distributors in the market. We’re experienced in the most complex of scenarios across a vast breadth of lending solutions and support intermediaries throughout the whole process.
Specialist lending is much more of a regular occurrence for an increasing number of mortgage advisers and our expertise in this area means we can find the right solution for your clients borrowing need.
We can help with the following:
- Second charge mortgages
- Bridging finance
- Commercial mortgages and other commercial products
- Development finance
Just a few great reasons to work with Clever Lending:
- Personal service from a passionate team
- Ability to find solutions – outside the box thinking
- Driven by client outcome
- Multiple lending options – for alternative solutions
- Extensive lender panel
- Market-leading rates
- 24-hour turnaround on DIPs
- Competitive commission rates
- Advice and recommendation or package only service
Our online broker portal Clever allows you to:
- Submit an enquiry at any time from any device
- Track all cases 24/7 in real-time
- Upload documents with drag-and-drop faciality in a secure environment, which can be accessed quickly and easily
Register with Clever Lending and access Clever here.
Additional products means more options
A second charge mortgage is additional borrowing against a property which sits behind a main mortgage. The result is two separate loans secured against the value of a property, but the second loan will not affect the first.
Clever Lending has developed very close relationships with all second charge lenders to ensure we have a vast choice of products to suit our clients’ needs. These relationships help us discuss cases on their own merits rather than just fitting criteria.
A second charge mortgage could be the solution for customers who:
- Have an existing mortgage with a high early repayment charge
- Your customer may be on a competitive mortgage rate they wish to retain
- Your customer may have an interest only first charge
- For affordability reasons e.g. complex income
- High LTV required
- Your client has a poor credit profile
Common uses for a second charge mortgage:
- Home improvements
- Debt consolidation
- Investment for another property purchase
- Business purposes
- Gifting deposit
- Tax bills
We offer two options with our fee structure, either added to the loan or paid on application. Please contact us to discuss further.
- Loans up to £2.5 million
- Terms up to 35 years
- Fixed-rate options up to 10 years
- Standard LTV 95%
- Employed and self-employed
- Pension income accepted as sole income
- Benefits income accepted as sole income
- Complex affordability cases considered
- Unusual properties
- No Early Repayment Charge options
A commercial mortgage is often thought of as a loan taken out against a business property, such as an office, hotel, warehouse or café for example. But it’s important to remember lenders will consider many types of property investment business, including residential property, which is often referred to as specialist buy-to-let. With the new product lines we have we can also look at other business assets as security too.
Clever Lending has relationships with several lenders, which enable us to provide a wide range of lending types, including:
- Trading businesses (leisure, retail and industrial)
- Semi-commercial (such as a shop with a flat above)
- Mixed portfolio
- Standard commercial property
- Single residential property
- Multiple units on one title
- HMO/student lets – investment valuation/brick and mortar valuation
- Portfolio finance
- Blocks of flats
Clever Lending has recently introduced a whole new suite of products which enable us to have true flexibility in getting your cases across the line:
- Finance for property development projects of any size – along with expertise in presenting robust business plans to lenders
- Asset finance - allowing businesses to grow by funding or refinancing any business asset, such as plant machinery, HGVs, fleets of company cars, construction vehicles, even boats and planes! All this without having to worry about large upfront costs or tying up needed funds
- Invoice discounting– providing commercial clients with immediate funds on invoices that are outstanding from customers
- A range of unsecured business loans, which can fund a wide variety of projects
Clever Lending can offer alternative solutions not tied to any subject property, giving true flexibility on gaining the right solution for your customers
Who are commercial mortgages for?
- Businesses that want to buy a property to trade from
- Investors and developers who cannot go down the traditional mortgage route as they may have requirements for more specific lending options
We offer competitive commission rates which will be agreed with you on quotation
Each commercial mortgage application is assessed individually, and a solution recommended according to the circumstances.
- Market-leading rates
- Interest-only options
- Up to 100% LTV (with additional security)
- Bespoke solutions for complex cases
- Fixed and variable rates
- Flexible underwriting approach in relation to poor credit
- Unusual property types
- Competitive and flexible fees
It doesn’t need to be a daunting process for you or your customers. We will provide you with the specialist advice required to ensure the right solutions are recommended for your clients. However, if you wish us to, we will deal directly with your customers on your behalf – and of course keep you updated throughout the whole process.
Bridging finance is a short-term funding option which ‘bridges’ the financial gap during a property transaction or development project. If your client needs to borrow money quickly for an interim period, then a bridging loan might be a suitable option for them.
A bridging loan is usually taken of over a short period, typically 12 to 24 months but can be longer. It’s important to seek expert advice as some lenders do apply a penalty charges if the agreed term is exceeded.
Key factors considered by lenders are the:
- Subject property
- Project plans
- Exit (how is the customer going to repay, this could be by sale, refinance or obtaining funds from elsewhere)
We can secure your bridging loan with expert knowledge and long-standing lender relationships.
- Day one decision in principle
- Best rates on the market
- Up to 100% LTV
- Bad credit and non-status acceptable
- Auction purchases
How much is a bridging loan?
Bridging finance is a solution to a short-term borrowing need and should positioned as such. If used correctly it could save the client money, for example avoiding having to sell a house under value for a speedier completion to buy another property or losing the investment opportunity.
As with any mortgage, charges will include valuation and legal fees which are mostly paid upfront. The cost of these will vary depending on the lender and the property value or purchase price. On top of this, many lenders will also charge an arrangement fee of between 1-2% of the loan advance.
Why a bridging loan?
- Securing a new property before completing the sale of your existing property
- Broken sale chains - bridging the gap between purchases
- Auction purchases - quick completion timescales
- Renovation - a traditional mortgage may not be available until the works are complete.
- Below market value - enabling you to possibly take advantage of the open market value of the property
- Un-mortgageable properties, for example if there’s no kitchen or bathroom
- Commercial property purchase
- Refurbishment projects to sell or let
- Cross Charge across multiple properties
- Change of use - if changing the purpose of a building
- Buy-to-let -
Clever Lending’s product range covers several key requirements, such as:
- 100% LTV available with additional security
- Market-leading rates
- Terms from 1 month to 24 months (longer on buy-to-let)
- No exit fee options
- Staged released payments
- Auction purchases
- Second and third charge
- Free legals
- Monthly payment or rolled up interest
Working together to make things easier for you
We take a flexible approach to ensure we provide support in a way that suits you. We can either work with you on a case -or are happy to deal directly with the customer on your behalf - whichever you prefer.
Get to know us
Speak to our team to find out more about our extensive lender panel and access to market-leading rates.
Just get in touch by either calling 0800 316 2224 or emailing email@example.com.