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A new breed of simple, fast and flexible commercial mortgages ...
If you were to buy a house in today's market, it would most likely be a straightforward process and getting the mortgage would probably be even quicker. Purchasing a business or commercial property is for most people not so easy. Commercial mortgage loans haven't really moved on from the days of 'cap in hand' to the bank manager. To illustrate the point, 40% of all commercial lending propositions are turned down by high street lenders. So where do you go from there?
No interviews, no business plan and be left alone to run your business...The average lender requires potential customers to provide indepth information such as three years full audited accounts plus projections and a detailed interview. In addition, it is unlikely that they would be willing to consider a checkered credit history. A commercial mortgage application can take three months or more, and during this period you may not be aware of the repayments or how committed the bank is to completing the transaction. Would you accept this from a residential mortgage lender? The answer is no and you shouldn't accept it from a commercial mortgage lender. Thankfully, there is now an alternative.
A new breed of commercial mortgage lender offering speed and flexibility...A new breed of business mortgage lender has entered the market offering speed, flexibility and simple business funding solutions that can be tailored to your business in a time frame to suit you. The residential mortgage model, along with its flexibility has been successfully transplanted into the commercial mortgages sector allowing the provision of a host of revolutionary product criteria;
You can apply these flexible commercial mortgage loan products in your business for any purpose including;
Top five questions about commercial mortgages ...If you have a question about commercial mortgage loans that is not answered here, please complete the enquiry form on the contact us page.
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A client was seeking finance to complete the purchase of a high street showroom. Contracts had been exchanged a year in advance and the showroom was to be used to distribute the company's stone and marble products. We lent £1.6m against a long leasehold property valued at £2.25m (70% LTV). The client made a self declaration of income and secured finance at 4% over LIBOR taking advantage of an interest only period for three years. The application was received on the 3rd October with the mortgage offer going out the same day. The deal completed less than two weeks from receipt of the application.
A client had recently restructured their business after losing two key government contracts. This forced redundancies and one off costs which translated into trading losses. Two properties were provided as security at a value of £1.9m. We were able to advance £900,000 at a margin of 3% over LIBOR for 20 years. In addition, we deducted the first 6 months payments in order for the applicant to enjoy a repayment holiday while it delivered restructuring of its business. Projections and future order book supported the future viability of a restructured business.
A professional Chiropractor Practice wanted to purchase their own business premises which had a purchase price of £390,000. The client only had a small deposit of £60,000 meaning a high loan to value circa 85% required. The proposition was further complicated by the property requiring change of use approval.|
Submit your priority commercial mortgage loan enquiry here... Please complete the form below and a commercial mortgage broker will contact you within 24 hours without cost or obligation.Your details will only be used to contact you about your finance enquiry and are protected by the Data Protection Act. Thank you for your interest in commercial mortgages. |
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