Commercial mortgages
Commercial Long And Short Term Mortgages And Bridging Finance
Most of the UK building societies and high street banks lend to “low risk” businesses..
However, not all UK businesses fall into this category and need an alternative option when the bank says, NO Sorry.
Not all businesses at all times have built up a credible trading history, are trading profitably and have the funds to repay the commercial mortgage
Non status commercial mortgages
Sinclair Consultancy can offer Adverse Credit Commercial Mortgages
EACH CASE AND CLIENT IS DEALT WITH ON THEIR OWN PERSONAL MERITS which means that mortgages can be obtained for businesses with:
- Mortgage arrears
- No accounts, or not up to date
- Poor credit rating
- Historically loss making
- Ex Bankruptcy
- County court judgments (CCJ’s)
The benefits of a non status commercial mortgage are:
- Borrowing can be for any purpose
- Simple application form
- No business plans or projections required
- No interviews or visits from bank managers
- Up to 85% loan to value available (100% with additional security)
- No need for audited accounts, simply declare your own income
There are no hard and fast rules, each application is judged on its own merits. These non status commercial mortgage lenders are ideal for businesses (sole traders, partnerships or limited companies)
who need
- Business turnaround/phoenix
- New business start ups
- Business refinance
- Where the incumbent bank want their money back!
- Buying out ex-partners
- Clearing money owing, and dealing with threats to the business
Acceptable Security:
Sinclair Consultancy can accept Property that is turned down by most lenders
(Almost all commercial property is acceptable)
- Hotels, guest houses, B&B’s
- Takeaways and cafes
- Hotels
- Pubs and restaurants
- Farms
- Factories and Semi Commercial
- Offices
- Investment properties
- Retail premises
Service levels:
You can EXPECT, from Sinclair Consultancy
- A decision in principle within 2 hours
- Same day solicitor instruction
- Accelerated completion by using in-house solicitors
- Quick turnaround of all proposals
Rates:
Non status commercial mortgages are available for:
- Advances FROM £25000 up to £2 million
- Interest rates vary between 1.5% and 5.5% over base
- INTREST RATES ON BRIDGING VARY BETWEEN 1.5%TO 2.25 %PR MONTH
- Early settlement penalties range from ONE MONTHS INTRESS TO 6.5% (of outstanding loan) DEPENDING ON LENDER
