Glossary
Here, you’ll find information on industry terms and acronyms. We make things easier to understand at Velocity Bridging
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The length of your loan agreement, usually displayed in months.
Rate
The interest rate you will pay, based on the gross loan amount.
Gross Loan
The total amount of money borrowed before deductions.
Net Loan
The actual sum of money that will be transferred to the borrower’s account after deductions.
LTV
Stands for loan-to-value. This is displayed as a percentage and shows the ratio between the value of the property and the size of the loan secured against it.
DIP
Stands for decision in principle. This is the first document the borrower will receive from us and will detail an illustration of the deal we are prepared to offer. This is not a formal offer document.