This means that we lend purely on the value of the property involved. Our loans are commercial loans for business purposes and are not regulated by the Financial Conduct Authority or any other body. Funds must be used for business purposes and the documentation contains a declaration to this effect.
Lobster Lending Limited is based in Cornwall but lends funds all over England and Wales
We are a non-status lender
We can lend up to 70% of the open market value of a property
The value will be determined by Chartered Surveyors appointed and instructed by us (but paid for by the borrower)
we are happy to consider agreeing loans for fixed periods, our loans are generally open ended. This means that the borrower can repay the loan whenever he or she wants to but as long as he or she keeps paying the monthly interest, the loan can remain in place for as long as the borrower wants.
The Directors of the Company are
Dugald Sproull and Daniel Sproull.
Both have been active in the non-status commercial lending market for decades. Both are also solicitors (although it should be carefully noted that Lobster Lending Limited is not a law firm and is not regulated by the Solicitors Regulation Authority).
The fact that the two Directors are solicitors enables the process for completing a loan to operate more smoothly than with other lenders whose Directors are not legally trained.