Title Split Loans
Many of our clients look to purchase residential property with a view to attaining planning permission on adjoining land.
Our panel lender offers title split loans where part of the title can be carved off on completion of the purchase or during the term of the loan. This gives the borrower unencumbered land to apply for planning on and makes securing development finance easier.
Loan Size: £100k - £15m +
Term: Up to 18 months
Location: Throughout England
Borrower: UK borrowers with clean credit
Security Type: All types of residential property and semi-commercial property and commercial property which is being converted to residential
Interest Rate: From 0.36% per month + BBR
Loan to Value: 70% LTV NET Day one + 100% of the costs of the works
Case Study: Completed Title Split Loan
Last Friday, we completed on a £140k title split loan where the client purchased a bungalow with a large garden to the side in Lancashire. Whilst the legals were being completed, the title was split and the lender just took security of the bungalow, leaving the land at the side unencumbered. Meanwhile, the borrower successfully applied for planning on the land at the side which meant that on completion, the borrower had unencumbered land benefitting from planning permission and our lender had security over the bungalow which the clients are refurbishing to sell.
