A personal undertaking/guarantee is a legally binding agreement between the Borrower and the Lender, stipulating that the Directors/Shareholders will assume responsibility for repaying the debts of the Limited company should it fail to do so. Typically, this undertaking doesn't involve any collateral; however, depending on circumstances, the Lender may request additional security, such as a charge over the Guarantor’s primary residence or other assets.

In cases where the purchase price substantially undercuts the market value, it's potentially attainable. This scenario often arises when a vendor urgently needs to sell a property, resulting in a negotiated discounted purchase price. Although lending in such situations typically considers the purchase price rather than the market value, some lenders are comfortable extending finance based on the latter!

To streamline the process and stay ahead, it's advisable to have these documents readily accessible, such as in a folder on Google Drive:

• CV

• Property Portfolio

• Photographic ID

• Proof of Address

• 3 Months of Bank Statements

• SALIE (Statements of Assets, Liabilities, Income,
  Expenditure)

• Copy of Planning

• Build Schedule and Cost Breakdown

• Property Address

• Property Type

• Property Value

• Lender with First Charge

• Monthly Rental Income

• Current Mortgage Balance

• Monthly Mortgage Payment

• Remaining Loan Term

• Date of Purchase

Lenders request a CV to gain insight into your past experiences, industry background, and project scale.
Additionally, they seek information about your team's expertise and background, as they are typically responsible for project delivery.

• Company details: Name, duration of operation.

• Previous projects with evidence, including before and after pictures and brief descriptions.

• Details of team members, such as Contractors, Project Managers, and Quantity Surveyors, highlighting their experience and past projects.

• Property Address

• Property Type

• Property Value

• Lender with First Charge

• Monthly Rental Income

• Current Mortgage Balance

• Monthly Mortgage Payment

• Remaining Loan Term

• Date of Purchase

• Submit enquiry to Eskrow.Fund via call, email, website or mobile app.
• Case manager reviews provided information to ensure completeness and gain a comprehensive understanding of the deal.
• Deal is packaged and sent to relevant lenders.
• Lenders respond with their offer Agreement in Principle (AIP).
• Upon choosing a lender, case manager sends relevant paperwork for completion.
• Valuation quotes are obtained, and you select a valuer and pay the fee. Valuer sends report to lender for review, who then issues an offer letter upon satisfactory valuation.
• Solicitors are instructed, and fees are paid.
• Case manager oversees legal completion process.
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