Direct lending
With direct lending, the proposed finance comes from the lending business’s own funding source. An indicative calculation does not itself create a facility or commit a lender to providing funds. The borrower and lender need to be identified in the final documents.
Finance arranging
Another lender applies its own assessment and documentation process. LendFI’s role, the proposed recipient of application information, and any fees or remuneration relevant to the arrangement should be clear before the request progresses. Information should not be sent to an unspecified list of lenders.
Compare the whole commitment
Look at the amount advanced, payment amount and frequency, term, total repayments, fees, security, guarantees and treatment of early repayment or default. Different interest methods can make two headline rates difficult to compare directly.
Keep the actual purpose clear
Describe the proposed use of the funds and the legal borrower. Identify any personal spending or property investment at the start so the appropriate process can be established. A label on an application does not change its underlying purpose.
What the calculator covers
The website calculator uses LendFI’s cashflow and asset-backed pricing model. It is not a comparison of every lender or a promise of another lender’s terms. The finance route and final terms need a separate review. Online applications are currently paused.