All borrowers and their prospective projects are subject to a thorough process of due diligence carried out by our underwriting team to reduce the risk of borrowers failing to repay their loans. For instance, we will assess the borrower’s credit history, professional past and previous property industry experience. We will also undertake a full evaluation of the property and project against which the loan will be made. We instruct independent third party valuers to visit the property and prepare a valuation report, and we assess the local market for liquidity and demand.
Fraud in the UK is a constant threat and one we take very seriously. There are many enquiries, procedures and technologies we use to limit the risk of fraud by the borrower (or his/her solicitor). We also make use of two leading UK fraud detection systems, SIRA and CIFAS. Most major financial institutions in the UK use these systems for a comprehensive and sophisticated defence against fraud.