Signed, Sealed… Not Quite Delivered: A Guide to Term Sheets

If you’ve read enough of our articles, you’ll know we’re partial to a bit of imaginative scene-setting. So today, friends, let’s imagine you’re building a house (and no, Kevin McCloud and the Grand Designs crew are nowhere to be seen).

Before you break ground, order overpriced reclaimed timber or debate the merits of a solar-panelled roof, you need a blueprint - something that says, “Here’s what we’re building, and roughly how we’ll do it.” That’s what a term sheet is in a lending transaction.