Avamore Capital

Avamore Capital is a UK-based short-term property lender. The lending criteria for their loan products is as as follows:

• Loan Purpose: Avamore Capital provides loans for a range of purposes, including bridging finance, development finance, and refurbishment finance.

• Property Type: Avamore Capital provides loans for a range of property types, including residential, commercial, and mixed-use properties.

• Loan Amount: The minimum loan amount is typically £150,000, and there is no maximum loan amount.

• Loan Term: The loan term is typically between 3 and 24 months for bridging finance, up to 18 months for refurbishment finance, and up to 30 months for development finance, although longer terms may be considered on a case-by-case basis.

• Loan-to-Value (LTV) Ratio: Avamore Capital may lend up to 70% of the property’s open market value (OMV) for first charge loans, and up to 60% of the OMV for second charge loans.

• Repayment Strategy: Borrowers are required to have a clear and viable exit strategy for repaying the loan, such as selling the property, refinancing with a mainstream lender, or using other sources of funds.

• Borrower Requirements: Avamore Capital considers borrowers with a range of backgrounds and circumstances, including individuals, limited companies, partnerships, and trusts. Borrowers must be over 18 years of age and have a UK bank account.

• Credit History: Avamore Capital will assess the borrower’s credit history, although adverse credit may be considered on a case-by-case basis.

• Fees and Charges: Borrowers will be responsible for paying various fees and charges, such as arrangement fees, valuation fees, legal fees, and exit fees. These will vary depending on the loan product and borrower circumstances.