Lending, mortgage and business support options during the Coronavirus pandemic

Following the announcement from the Government on an effective ‘lock down’ for the UK, we wanted to reassure you that the team at Clever Lending is fully operational and working from home.

We want to make sure you’re kept up-to-date with what’s going on regarding lending, support available for businesses and people’s finances in general. This page includes a hub of official guidance, which may be worth bookmarking so all information is easily available.

We’re here to talk to answer your customers’ lending enquiries – and discuss any concerns following the recent pandemic. There’s lot of information out there about mortgage holidays, rental payments and the support available for businesses and self-employed workers.

Regular updates are being made regarding the measures that are being put in place to reduce the impact Coronavirus will have on people and businesses. Below are links to official websites which provide the most up-to-date information regarding:

We’re also still available to take new specialist lending enquiries for:

Whatever the query, just get in touch and we’ll discuss all available solutions for each of your customers based on their circumstances.

Most importantly though, ensure you and your household keep safe and well. Full NHS guidelines, including how to stop the spread and symptoms to look out for can be found here.

We’re here to support all our brokers and their families during this challenging period.

Coronavirus update from Clever Lending

We understand that these are worrying times, and people are doing their best to look after themselves, family and friends.

There’s lot of uncertainty, and we appreciate many people may be wondering how their mortgages, loans, and finances in general, could be affected during – and after – this pandemic.

At Clever Lending, we’ve put measures in place to make sure things continue as normal so we’re still here to handle enquiries.

Brokers may also have business-owner customers who are concerned about the financial impact of this testing time. Our specialist commercial lending team is on-hand to help them find a solution to alleviate cash flow issues.

We want to make sure we’re here to support our clients, their businesses and their customers – especially during this challenging period.

From the whole team, we’d like to wish everyone all the best and pass on our encouragement to keep strong throughout this time.

Commercial property lending set to support economic growth of Lincolnshire

Property developers across Lincolnshire can now source funding for their commercial projects as part of a new service to support ambitious regeneration and economic growth plans across the region.

We’re now providing finance solutions for property developments of any size – along with expertise in presenting robust business plans to lenders.

Our commercial lending experts are working with developers to secure funding for plans to enhance the local area, such as residential and commercial developments, land or building acquisition, office conversions, leisure complexes and care homes.

Driving the launch is Emma Tempest who’s joined our team as National Commercial Manager. She brings along two decades’ experience in financial services, during which time she set up and grew an independent brokerage and developed her own portfolio of properties.

Emma said: “It’s vital property developers have access to reliable and consistent support, advice and funding, which assists them in delivering their plans. We’re now here to not only source finance for landowners and developers, but also provide guidance on planning queries, knowledge on property markets and assistance in producing effective business plans to secure required funding.”

Jon Hinde, head of economy and skills at InvestSK, South Kesteven’s economic growth company, said: “I meet regularly with businesses that want to stay and grow in South Kesteven, and new companies looking to move into the area.

“InvestSK’s job is to make it as easy as possible for them to meet their growth ambitions by helping to identify and fulfil their land, property, finance and skills requirements.

“We welcome initiatives that boost the district’s commercial ecosystem and look forward to Clever Lending’s new service becoming a key part of the business support and funding network in South Kesteven.”

Emma continued: “Lincolnshire has become a hot spot for development in the UK and we’re delighted to be offering funding to allow ambitious residential and commercial plans come to fruition.”

Property developers can find out how to contact our commercial team here.

Changes to Capital Gains Tax on buy-to-let properties, second homes or holiday lets

Capital Gains Tax on property is set to change soon (6 April 2020). Professional landlords -and those who own additional properties as well as their own main homes – need to be aware as these changes could affect the amount they earn when selling their buy-to-let properties, second homes and/or holiday lets.

There are three main proposed changes to legislation around Capital Gains Tax:

Capital Gains Tax liability

Currently, when someone sells a property that’s not their main residence, the gain, minus costs associated with the sale are reported on their annual tax return. If they’re then liable to pay Capital Gains Tax, these need to be paid by 31 January; following the end of the tax year when the property was sold.

From 6 April 2020, people will need to submit a residential property return and make the payment within 30-days from completion of the sale. This 30-day rule will only apply to UK residential properties sold on or after this date – and only where Capital Gains Tax is chargeable.

Private residence relief

Currently, when a property has been someone’s main residence for the last 18 months of ownership, this is treated as the principal private residence period and exempted from tax.

From 6 April 2020, this period will be reduced to 9 months.

There will be no changes for people who move into a care home or have a disability. The relief period will remain the same and be the last 36 months of ownership.

Lettings relief

Currently, if a property was someone’s main residence at any point of ownership, even with periods of being let; people are entitled to claim a Capital Gains Tax relief of up to £40,000 of any gains. If the property is jointly owned and not with a spouse, people would be entitled to tax relief on gains of up to £40,000 each.

From 6 April 2020, this relief will only apply if the property was let out whilst the owner was living in it.

What is Capital Gains Tax?

Capital Gains Tax is a tax paid on the profit made from an asset sold or disposed of, which has increased in value. It is the increase in amount of value that is taxed – not the whole sale or disposal cost.

For example, someone bought a house for £100,000 and then sold it for £150,000. This means a gain of £50,000 is made – the amount which would be subject to tax.

What Capital Gains Tax is paid on

Capital Gains Tax is paid on the gain made on, what are known as chargeable assets, which include:

  • Business assets
  • Property that isn’t someone’s main home
  • Someone’s main home if it’s been rented out, used for business purposes or is a very large property
  • Most personal possessions, apart from cars, which are worth £6,000 or more
  • Shares that are not in an ISA or PEP

It is possible to reduce any Capital Gains Tax paid by claiming a relief. If a gain has been made on an asset jointly owned with someone else, that person would only have to pay Capital Gains Tax on the actual amount gained.

When Capital Gains Tax doesn’t have to be paid

Capital Gains Tax is only paid when the total amount earned every year is more than an annual tax-free allowance.

Capital Gains Tax also doesn’t have to be paid on:

  • Gifts to a spouse (wife, husband, civil partner)
  • Gifts to charity
  • Lottery, pools or betting winnings
  • ISAs or PEPs
  • UK Government gilts and Premium Bonds

Capital Gains Tax allowances

Capital Gains Tax only has to be paid if gains add up to more than the tax-free allowance – or Annual Exempt Amount.

  • £12,000
  • £6,000 for trusts

No issue is too taxing for Clever Lending!

It’s that time of year again…tax returns must be submitted, and HMRC bills need to be paid.

Businesses and self-employed people could be faced with unexpectedly high bills which they need additional funding to cover.

That’s where we come in!

We can provide short-term bridging loans quickly and easily which could help to alleviate any cash flow issues. It doesn’t have to be taxing.

Our specialist commercial lending team can provide finance for almost any scenario:

  • Asset finance – refinance any business asset to release funds quickly
  • Invoice discounting – provides businesses with immediate advances on funds they are due from customers
  • Unsecured business loans – which can provide immediate funds

…plus, mortgages for commercial properties, property investment businesses and property developers

Let’s discuss your lending requirements now!

Clever Lending launches specialist commercial service

We’ve broadened our offering by launching a new commercial lending division and increased the range of products and solutions for the professional sector.
Additional partners have been welcomed to our panel and we now have access to several new products, including finance for property development projects, asset finance, invoice discounting and unsecured business loans.

Driving this launch is Emma Tempest who’s joined us as National Commercial Manager. She brings along two decades’ experience in financial services, during which time she set up and grew an independent brokerage and developed her own portfolio of properties.

Emma said: “Commercial lending covers far more than just property, it can support businesses to grow and invest in key areas by financing a vast range of project requirements and scenarios.
“It’s great to join Clever Lending and I’m delighted to be working with such an experienced team, who review all cases individually and use their knowledge to find the right lenders and products which offer the best solution for each customer.”

As part of our new commercial service, we can now provide finance for property development projects of any size – along with expertise in presenting robust business plans to lenders.
Asset finance allows businesses to grow by funding or refinance any asset without having to worry about large upfront costs or tying up needed funds. Invoice finance can provide businesses with immediate advances on funds they’re due from customers. Our team also has access to a range of unsecured business loans for any project need.

Emma continued: “The commercial lending market offers huge potential for Clever Lending and can solve a lot of problems for local businesses and we’re excited to be able to provide an even more comprehensive range of solutions to the professional sector and their business clients.”

Unravel your customers’ finances!

The customer story

We were approached by a broker as her customer was struggling to manage the numerous payments for his existing debts. The customer already had first and second charge mortgages, along with several unsecured debts, and his monthly commitments were becoming difficult to meet.

His credit score wasn’t great as he’d missed payments on both his mortgages and unsecured debts, the most recent being on his second charge, which he’d missed but still paid during the same month. The customer was employed by his family business and had become a 20% shareholder two years ago.

Applying our insight

As a portion of the customer’s main income was from the dividend from the family business, we needed a lender who would class him as self-employed. Otherwise we wouldn’t have been able to take this income into account and the amount of money he required would have been deemed unaffordable.

The recommended lender was happy to review the case and accept an accountant’s certificate showing one year’s financials as proof of the customer’s self-employment income. Also, as the 2nd charge payment was late but made up within the same calendar month, the new lender didn’t class it as missed.

An ideal solution

The lender was prepared to offer a new second charge mortgage of £62,500 over 25 years with a fixed rate for the first three years.

This allowed him to consolidate his debts of more that £22,000 and pay off his existing secured loan of nearly £40,000. It also meant he only had to make one payment of £600 a month – which was half of the amount he was paying before.

What we said

“This client’s circumstances were unusual in terms of deciding how best to help him secure a suitable product. His bad credit and employment status ruled out many lenders – however, our experience and product knowledge meant we knew there could be a solution for him.

“We were happy to help this customer who was able to get back on track with his finances, whilst saving money every month, which would allow him to pay back his debts as part of an affordable plan.”

You can submit a case here or call us on 0800 316 2224 to discuss any case requirements or simply email enquiries@cleverlending.co.uk.

New duo takes the reins at Clever Lending

Two new directors have been appointed to lead our ambitious plans for growth across the mortgage and lending market.

Kevin Blount is now overseeing all our operational aspects as Director of Technical Operations, with Michelle Neville being responsible for delivering the sales strategy as Director of New Business.

Kevin said: “After working at Clever Lending for several years, I’m delighted to have been given the opportunity to step up into this new position. The growing specialist lending market presents huge opportunities for the business, and with a recent surge in people looking to take out alternative finance solutions, now is a really exciting time to develop Clever Lending even further.”

Michelle, who herself has been involved with Clever Lending from the start, said: “Mortgage product and new business development is my forte, so it is with great pleasure I take on this new role. Our efforts will now focus on nurturing existing relationships and engaging with brokers who may not be aware of how a specialist distributer, such as Clever Lending, can benefit their businesses.”

Kevin commented: “Mortgage brokers are experts in what they do and have great product knowledge, but the fact is, the market is a moving beast and new product solutions are constantly being introduced in the specialist space. Plus, if the situation is a bit more complex, there’s nothing wrong with getting a second opinion.”

Michelle continued: “Clever Lending already has an impressive track record, but with aspirations of growth and increased product offering, the team and I are looking forward to building our presence across the specialist lending market.”

Find out about all our products here.

New broker portal launched to enhance Clever Lending experience

We’re delighted to announce the launch of our new online broker portal Clever+ which is now live and ready to support brokers with their customers.

Clever+ provides instant access to our extensive product range and allows brokers to submit all enquiries online – saving hours of time and cutting out the need for unnecessary paperwork.

Brokers already registered with Clever Lending have been automatically enrolled onto Clever+. They can now explore the new platform and enjoy the benefits of our new system.

Not registered with Clever Lending….why not?

Clever+ also allows brokers to:

  • Submit an enquiry at any time from any device.
  • Track all cases 24/7 with real-time case-alerts by SMS messages and emails – directly from the system.
  • Pre-populate application documents to save time and improve efficiency.
  • Upload documents so all information is saved in one secure place, which can be accessed quickly and easily.

Check out our video to find out more. You will soon also be able to access video training guides.

If you want to register with Clever Lending, please get in touch with our team who will be happy to help.

Make the next Clever move in your career!

Make the next Clever move in your career!

We’re looking for talented and experienced people to join the Clever Lending team!

There are a number of roles available, including business development managers, advisers across mortgages, protection and specialist lending, along with admin support. If you’re enthusiastic and want to further your career within our fantastic team then don’t hesitate to get in touch!

Come and meet our friendly team in Peterborough on 28th February.

We’re going to be at The Job Show in Peterborough on 28th February to talk about what it’s like to work for Clever Lending and discuss all available opportunities in more detail. The event is taking place at Peterborough United FC from 10.30am until 3pm and is set to showcase jobs from a range of businesses across the region.

We’ll be the only employer from the financial services industry at this big event, so if this an area you want to start or progress your career in, then please make sure you come and see us!

Why would you choose to work for Clever Lending?

We are well established in the industry and service a number of major networks in the mortgage market. We support brokers and intermediaries, as well as consumers, by offering specialist lending products across first charge packaging, secured loans, buy-to-let, regulated bridging, and commercial markets.

With over 30 years’ experience, we maintain strong relationships with key industry influencers, including lenders, providers, and regulatory bodies. Working with the latest technology and offering competitive salary packages, Clever Lending could be just the career step that you are looking for.

Speak to us now!

We’re looking for a range of people, so it doesn’t matter if you don’t have a financial background. Of course it helps, but if you’re driven enough, there may still be a role for you.

All of the roles that are currently are available to view here.

You can also just give us a call on 0800 316 2224 if you want further information.