Types of loans
Commercial
Commercial explained
It is suitable for commercial businesses or individuals and they are usually secured against property. It is much quicker to arrange compared to traditional property loans, they are less sensitive to the property details and not so dependent on income or credit history.
What our customers say
Frequently asked questions
As Bricks Finance is authorised and regulated by the Financial Conduct Authority, am I covered by the Financial Services Compensation Scheme (FSCS)?
No, money you lend to Bricks Finance is not covered by the FSCS.
What equity reserves does Bricks Finance hold?
As well as ensuring Bricks Finance has a cushion against falling asset values, we ensure we have sufficient capital reserves to absorb unexpected losses. At 30 April 2021 our capital reserves were over £2M, exceeding the level required of us by the Financial Conduct Authority.
Can I get a loan even if I am retired?
Yes, Bricks Finance lends to people who are retired. You can apply now by contacting Tracey Abbott, our Head of Lending, by calling 01392 345778 or use our contact us form.
What’s the maximum amount of money I can borrow?
Between £50,000 and £2,000,000. Larger loans may be possible.
Do you offer bonds or mini bonds?
Yes. The minimum investment is £100,000. Everybody, including the Bricks Finance founders and families, lend their money to the same investment fund and then the Bricks Finance founders decide who the fund lends to.
How long can I invest for?
Following a minimum term of 12 months, we have options for 6, 9, or 12 months’ notice.
What security do you accept for bridging and short term loans?
Bridging loans can be arranged against land, investment properties, commercial properties, or high value assets. The secured properties don’t have to be owned by you but could be pledged by a guarantor.
What happens if I need to extend the repayment date of my loan beyond our agreement?
We recognise that in the real world, projects can take longer than anticipated. We are under no obligation to extend our loans but where the fundamental basis of the loan is still sound, we do offer loan extensions.
How would borrowers and investors be affected if there was a dramatic increase or fall in UK interest rates?
Every Bricks Finance borrower and lender signs an agreement with a fixed interest rate and consequently we are independent of UK interest rate changes.
How long can I invest for?
Following a minimum term of 12 months, we have options for 6, 9, or 12 months’ notice.
How do I calculate how much I could earn from my investment?
Use our investment calculator or contact us for a quote.
Am I eligible to receive a bridging loan?
Contact us and we will tell you if you qualify for a Bricks Finance bridging loan.
When I lend to Bricks Finance, what is the main risk?
The main risk is that we are unable to continue to make the interest payments when they fall due or to repay the loan principal amount when it falls due. In order to minimise that risk: (i) We meet and check the creditworthiness of every borrower; (ii) Certain security documents are entered into between Bricks Finance and the borrower (apart from probate loans) to secure the total amount repayable under the loan contracts against a property or other assets owned by the borrower; and (iii) We request certain due diligence material, check valuations, and a certificate of title, or we take secure possession. These steps help to reduce the risk of Bricks Finance losing its capital but does not completely eliminate the risk.
How long does it take to arrange a loan?
We have made loans as quickly as two days from initial request.
Are your bridging loans regulated or unregulated?
Both, Bricks Finance offers regulated and unregulated loans.
Does Bricks Finance provide financial advice?
Bricks Finance does not give financial advice or recommendation. It is up to you to seek advice from an authorised person who specialises in advising on non-readily realisable securities. Your capital is at risk and is not protected under the Financial Services Compensation Scheme.
Where does the funding come from for each loan?
We use our own family money plus funds from a small group of investors. We do not rely on institutional funding and can therefore make quick decisions on new loans.
As a short term loan investor, how much can I invest?
Between £50,000 and £2,000,000.
Do you offer loans for pensioners?
Yes, Bricks Finance lends to pensioners. You can apply now by contacting Tracey Abbott, our Head of Lending, by calling 01392 345778 or use our contact us form.
Do you offer short term and long term loans?
We offer loans from 3 to 36 months.
How would Bricks Finance cope with a dramatic downturn in the UK property market?
Because the security documents create security over property or assets, if there were to be a dramatic downturn in the UK property market, or other markets, this could affect borrowers’ ability to repay the amounts due to Bricks Finance. However, even if the value of the security falls the borrower could continue to pay the interest and the principal as it falls due. We pass the Bank of England stress test of a 31% fall in UK residential property values.
As an investor, when I lend to Bricks Finance, who has risk priority?
Bricks Finance enables you to make fixed-rate loans indirectly to a borrower either secured by assets or, in the case of probate loans, with a very strong covenant. Your loan will be made under an individual loan instrument directly between you and Bricks Finance. Loan instruments may have different maturities and interest rates but all rank equally including with directors’ and founders’ own lending to Bricks Finance.
How can I calculate the cost of a bridging loan?
Use our loan calculator or contact us for a quote.
How do you minimise the risk of fraud?
We work with Top 100 UK legal firms Trowers and Hamlins LLP and Michelmores Solicitors LLP, and as part of our legal due diligence we make certain identity, fraud and credit checks, in addition to the checks on valuation and certificate of title. Being regulated, we follow Financial Conduct Authority guidelines and meet all of our borrowers.
Do you offer personal loans as well as commercial loans?
Yes, Bricks Finance lends to people, trusts and businesses.