Overdraft Facility

Purpose To assist normal revenue expenditure and cash flow requirements.
Borrower Registered charities, umbrella organisations, Development Trusts, RSLs, churches and other faith-based groups.
Amounts Up to £1.0m secured. Normally max £0.05m unsecured.
Loan to value Max. 70% - secured.
Term Up to 12 months.
Interest Margin Variable Typical margin over Bank Base Rate: +2.5% (minimum 4% p.a.) - Unsecured. Typical margin over Bank Base Rate: +2% (minimum 4% p.a.) - Secured.
Fixed N/A.
Capital Repayment Holiday N/A
Fees Typically 1.5% of the amount of the advance. NOTE - All legal and valuation fees to be borne by the applicant.
Security First/Second Legal Charge over the freehold or leasehold property. Where the property is leasehold, it must have more than 35 years unexpired upon repayment of the facility. Charge over investments.
Financial Covenants N/A - On Demand Facility.
Requirements Unity Trust Bank to provide main bank relationship.

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