LYLE FINANCE PRIVACY POLICY AND TERMS AND CONDITIONS
We are lenders of last resort so please do not apply for a loan unless you are confident your client can afford the monthly repayments and you have exhausted every other financial avenue available to them. We are equity lenders only and will rely on a countrywide valuation and other research information that we carry out in order for us to make a decision on your client’s loan application. We will lend up to 80% of the forced sale value or the 90-day auction sale.

The current economic climate has forced surveyors to become extremely cautious regarding valuations, added together with clients’ reluctance to accept their property is worth far less now than two or three years ago, makes loan approvals much more difficult to obtain. Should your client’s application be successful you must explain to them in full our terms and conditions especially in relation to default and repossession. 

Loans are equity based and are not dependant on any other criteria. No income proof is required; arrears and adverse credit are ignored. All loans are interest only and are fixed for a period of 25 years. Your client can redeem the loan after three years with no penalty or early redemption charges. Should they wish to redeem the loan in the first three years the redemption is fixed at three years interest.  

IMPORTANT TERMS AND CONDITIONS PLEASE READ CAREFULLY YOU MUST EXPLAIN THIS FULLY TO YOUR CLIENTS

We use reversible contracts with a power of attorney signed by the client. Should your client fall into arrears by missing three or more consecutive monthly payments the property will be transferred direct to the lender. Our solicitors will then dispose of the property in the next available auction. We do not need to seek a County Court warrant of possession or the appointment of an LPA receiver this is in conjunction with current UK law including Northern Ireland and is for the protection of the company’s security.

Deductions from the loan are as follows. Solicitor’s fees total £400. (Four hundred pounds only)
Arrangement fee deducted at source and paid direct to the introducer 5% of the total gross loan.  

On approval of your clients loan facility we will require the following documents, signed direct debit mandate, passport or photographic driving license, bank statement and utility bill dated in the last three months. No other forms of identification or proof of address is acceptable. We are a responsible company and comply fully with all identity fraud precautions and in particular current Money Laundering Legislation.

We provide loans on residential property only; no other forms of security are acceptable. Loans are available in England, Wales and Northern Ireland. Please note we do not lend in Scotland, the Channel Islands, Isle of Man or the Republic of Ireland.