Apex Bridging

Apex was founded in 2013 off the back of our sister-company – a Property Trading Company called House Buyer Bureau (HBB) who buy and sell Below-Market-Value property. Because we are already open to buying property in various states of repair, as a lender we are very comfortable in lending on such properties at high loan-to-value where we will routinely lend at 90% of market value on refurb purchases. We also specialise in Below-Market-Value purchases where we will look to ignore the Purchase Price and set our LTV against the Open Market Value of the property.

As a smaller lender in a niche area of the market, we aim to move quickly, always keeping channels open for escalation where needed. You will be able to speak directly to the Underwriter on any cases you submit, and we will continue to work hand-in-hand with Solicitors and Surveyors to ensure the client is receiving an exceptional level of service throughout the process. We operate with no hidden fees, no exit charges, and no red tape to hold back loans and cause delays, and will always aim to make common-sense decisions as opposed to the tick-box lending often seen in the market.

Yes. Up to 90% OMV day 1

We have one product for all lending with the rate starting at 0.95%. Although this is not a market-leading rate for straightforward lower LTV Bridging, the vast majority of what we do is at high LTV, typically at 90% OMV, and properties requiring a high degree of refurb, where it is generally competitive

We don’t credit check, and are comfortable with most borrower situations where the deal makes sense, and they can feasibly exit. We require borrower ID, address verification, and a copy of a credit report on application (from any credit reference agency)

We pride ourselves on being easy to work with and fast in our decision-making and processes. We will send you a straightforward Application Form with the set of Terms on enquiry. Terms should be issued within a few working hours of enquiry, and underwriting should be done within 2 working days of application, after which everything gets passed to Survey and Legals.

We have regularly turned cases around from application to funds release within 7 days – at 90% LTV.

Our underwriting process is very straightforward, and takes no more than 2 working days. Timescales after that are purely dependent on the borrower and their solicitor, and we will communicate with them, work with them and chase where necessary up to completion.

The simplicity of our process works well with Auction purchases, where timescales are tight.

We will ignore the purchase price and work off OMV on below-market-value purchases, up to 100% net to the borrower

Pros –

We can usually offer a higher net loan than the rest of the market on refurb purchases
We are comfortable at 90% day 1 on most levels of refurb and don’t get bogged down on detail or works being done (usually the greater the opportunity to add value the better)
We will work fast, you can speak directly with everyone involved in the process and we will aim to come to a common-sense decision on anything unconventional
We will aim to do our own version of an AVM at enquiry stage to give you feedback on the values the client is working with (OMV, GDV, market strength) to avoid the risk of a down-valuation later in the process
Cons –

We do not lend on Commercial property
We are not keen on refinance of a previous Bridging loan
Although we can look at drawdown facilities to help with build costs, we can’t offer day 1 build costs on top of high LTV for the purchase of the property and would require the client to add value first, before drawdowns would kick in