Here you’ll find information on industry terms and acronyms, making things easier to understand.
Term – 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.
Finance Manager
Maker of the best brew in Britain, Chris is the lifeblood of Velocity. He utilises his many years in banking to oversee our end-to-end finance operations including planning, analysis and reports.
Always on-hand, Chris provides real-time support for our sales team and keeps a close eye on every deal post-completion.
Commercial Manager
A trained journalist and experienced account executive, Matt deals with our vast broker network that stretches from Scotland down to Cornwall.
He ensures that all cases progress as smoothly as possible from enquiry right through to completion and is crucial to the infrastructure that allows us to complete faster than the competition.
Sales and Underwriting Manager
Iain keeps Velocity Bridging moving. As a chartered surveyor and hugely experienced underwriter, he is well-positioned to appraise all new cases and see them through to completion and beyond.
With his endless motivation to help clients, Iain is forever finding solutions to seemingly unsolvable problems. If he can’t structure you a deal, nobody can.
