THE PROCESS
Whilst the 4 products above have different purposes, our lending process is very similar.
We 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.
Credit Approval
If a borrower wishes to progress, BCF will issue Credit Approved HOTs. to If a borrower wishes to progress, we will issue Credit Approved HOTs.
Legal and Due Diligence
Once the borrower signs the Credit Approved Heads of Terms, we immediately instruct lawyers and valuers and commence any due diligence 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.
