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Non status equity loan launched
12 June, 2008
Private financiers Anthony & Co have launched a non status equity loan, which simply charges against the remaining equity in the property.
Properties can be owner occupied or let out.
An extension of their popular Mini Loan, the product quite simply lends against open market valuation, regardless of the number of existing charges, to a limit of 70% LTV for the self employed.
The maximum loan is currently £15,000 (more for lower LTV’s) and there are no lenders references taken. Instead, just a redemption statement is requested to show the full outstanding balance and to confirm no arrears are outstanding. Poor credit is accepted along with self certification.
A recent credible valuation is required and permission to register the charge is not necessary. Completion is usually ten days.