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Commercial Lending, Commercial Mortgages & Commercial Loans
There are a various types of commercial loans available:
- Flexible Commercial Mortgages
Commercial loans up to 100% of the purchase price are available, subject to circumstance, for example where additional security can be provided.
They are available typically for terms up to 15 years but again subject to circumstances 25 years may be an option.
Interest only options are available for up to 2 years.
Draw Down Facilities are available to give the option to increase the commercial loan amount during the commercial mortgage period up to 85% of the market value of the property.
Options for Overpayment and Re-Draw facilities are also available.
- Non Status / Self Certified Commercial Mortgages
This provides the opportunity to arrange a commercial mortgage without having to prove income.
This type of Commercial Mortgage is useful if due to circumstances you are unable to raise a commercial loan in the normal manner. This could be down to something as simple as incomplete / out of date accounts through to failure to meet past financial commitments due to a one-off down-turn in business or illness. It may also be useful to ex-bankrupts, people who have defaulted on mortgage payments and those with County Court Judgements (CCJ's)
It is likely the interest rate charged will be higher than a standard Flexible Commercial Mortgage,
As with all forms of borrowing the ability to meet the loan repayments is an essential consideration.
