Brilliant Solutions

Mercantile Trust Update

Mercantile Trust have announced an intermediary update which is available below.  

Mercantile Trust:

  • 2nd charge BTL’S and Bridging up to 75% LTV
  • Small loan advances with BTL loans from 10k and Bridging loans from 25k
  • We can use rental surplus from other BTL’s if the case is not passing rental assessment based on the rent from the proposed security. (If applicants don’t have surplus properties then we can always look at personal income)
  • Properties owned as unencumbered wanting a loan under £100k – we will do our own in-house legal work, so there are no legal fees for the client to pay.
  • We have a Homeowner Business loan product in which we can secure a second charge on a client’s residential property as long as the money is being used for business purposes only.
  • We lend in Northern Ireland (BTL and Bridge) max LTV 70%.
  • We accept Hometrack valuations for speed (subject to passing criteria).
  • We lend to first time buyers and landlords.
  • We have a ‘no consent’ equitable charge bridge product, lending up to 65% LTV
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