For Richmond Securities, making the application process simple to deal with is very important. We know that sometimes you just want an informal chat about a project or you want an idea of costs without producing 50 pages of information.
To start things off we just need some basics. Typically we mean the address of the site, the headline figures and the planning number.
The address is important for pretty obvious reasons. We like to know where the money is going, the same as any lender. Location is very important to us in the lending decision, so the sooner we know where your project is the better.
Planning information is ideal at the outset so we can look out for any potential issues. It all comes out through the process, of course, but again, knowing it sooner rather than later is preferable. We are not looking for reasons to say no, we are just looking for items that we need to either work around or at least be aware of to make an informed decision.
In fact, in the past, we have SAVED clients from buying sites or projects because of points we have found in the planning document!
The figures can make or break any enquiry / application. Loan to values and pound amounts are generally the starting point for any development finance lending decision. At the outset this doesn’t mean we need to have a breakdown of everything to the point of the cost of screws and nails. Rather, we need to know what you expect the overall costs will be and the end values of the properties.
Part of our initial underwriting will be to do our own desktop research on an area and the values of comparables. We think this is better than spending YOUR money to send out a valuer at the outset, when a bit of our time could save you hundreds or thousands in costs.
We do not quote everything and anything that we see and more often than not we will do some investigation before giving you figures. In our opinion that is of more value to you, the client. We do not charge up front fees, we do not charge fees on acceptance of offer, only when you complete. So, we are only interested in proceeding with the cases that we really do want to fund.
Like you, we are paid on results.
We do all this within a short period of time, generally the same day, if not we will work outside office hours to get you an answer the following day, including weekends where appropriate.
It does mean more work for us and we can spend time on an enquiry and stay no. It is not wasted time though, our dedication to service and you, the client is worth it for us.
To experience the service you thought was long gone, get in touch with us today. You can email at firstname.lastname@example.org, fill in the form or why not just ring up – 01492 879906