First mortgage business loans

What first-ranking security means

The ranking affects the order in which registered interests are dealt with if the loan is not repaid. It does not make a loan risk-free for the borrower, and the property may be at risk.

Equity is only one part of the proposal

A property value and current secured debt help indicate available equity, but a responsible enquiry also explains why the business needs funding and how the facility will end.

What to prepare before you enquire

A clear first conversation is easier when you can explain the business purpose, the amount and timing you are considering, the property security available and how the loan would be repaid or refinanced.

Documentation varies with the scenario. fundU may ask for identity, ownership, property, liability and business information before it can decide whether a proposal is suitable. A low-document pathway does not mean no assessment or guaranteed approval.

• The exact business purpose and amount being considered
• The property offered as security and any debt already secured against it
• A realistic repayment or exit strategy
• Relevant contracts, notices, quotes, approvals or payout figures

How fundU approaches the scenario

fundU is the lender. It does not send your details to a panel of lenders or operate as a matching service. The credit team considers the purpose, security, supporting information and complete circumstances directly.

Every approval, loan structure and timeframe depends on the individual application. Enquiring does not guarantee approval, and property used as security may be at risk if the loan is not repaid.