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The Following mortgage schemes
are available
Please click on the relevant link for an
outline of the typical terms applicable to that type of borrowing.
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HOTELS
& LICENSED TRADE MORTGAGES
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Type
of property
Hotels,
Conference centres, guest houses, public houses and night-clubs.
Loan
Advance
75%
of purchase price/valuation
Interest
Rate
Variable
or fixed
Loan
Terms
Up
to 25 years Initial. Periods of interest only can be considered.
Applicant
Type
Personal
name, limited company, partnership, pension fund.
Setting
Up Costs
Typically
a lender's arrangement fee of 0.5%-1% plus valuation and
solicitors costs. |
Requirements
Application form. Full details of property. Last three years
accounts for trading businesses. Last six months business bank
statements. C.V. and asset and liability statements of
applicants/directors. Copies of any corporate literature brochures.
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NURSING
& RESIDENTIAL CARE HOMES
|
Type of property
Nursing
Homes, Residential Care Homes, Nurseries
Loan
advance
75%
of purchase price/valuation
Interest
Rate
Variable
or fixed
Loan
Terms
Up
to 25 years. Initial periods of interest only can be considered
Applicant
Type
Personal
name, limited company, partnership, pension fund.
Setting
Up Costs
Typically
a lender's arrangement fee of 0.5%-1% plus valuation and
solicitors costs. |
Requirements
Application form. Full details of property. Last three years
accounts for trading businesses. Last six months business bank
statements. C.V. and asset and liability statements of
applicants/directors. Copy of the latest inspection report. |
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OWNER
OCCUPIER
|
Type
of property
Office,
factory, warehouse, light industrial and retail
Loan
Advance
Up
to 80% of purchase price/valuation
Interest
Rate
Variable
or fixed. Interest rate margins from 1.25% over LIBOR/Bank base
rate
Loan
Terms
Up
to 25 year. Initial periods of interest only can be considered.
Applicant
Type
Personal
name, limited company, partnership, pension fund.
Setting
Up Costs
Typically
a lender's arrangement fee of 0.5%-1% plus valuation and
solicitors costs. |
Requirements
Application form. Full details of property. Last three years
accounts for trading business. Last six months business bank
statements. C.V. and asset and liability statements of
applicants/directors. |
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BUSINESS
PROFESSIONALS
|
Type
of Property
GP
Surgeries, Dental and Veterinary Practices
Loan
Advance
Up
to 100% dependent on business plan
Interest
Rate
From
as low as 0.75% above three month LIBOR/Bank Base
Applicant
Type
Personal
name, limited company, partnership
Security
A
first legal mortgage over your freehold or long leasehold
premises. |
Requirements
A minimum three years certified/audited accounts will be required.
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DEVELOPMENT
|
Type
of property
Residential,
owner occupied commercial, pre Let/sold commercial Investment
Loan
Advance
Between
60-75% of purchase price followed by up to 100% of development
costs (lower levels for inexperienced developers)
Interest
Rate
From
2 - 4% over bank base subject to project details.
Loan
Terms
Usually
1 year on an interest only basis
Applicant
Type
Personal
name, limited company, partnership
Setting
Up Costs
Typically
a lender’s arrangement fee of 1% plus valuation. Quantity
Surveyors costs, solicitors and in certain cases an exit fee. |
Requirements
Application form. Details of property. Full feasibility study and
cash flow. Full schedule of development costs. Copies of planning
permission. Indication from local agents regarding current end value
and demand. C.V. for all applicants and their associated
professional advisors, together with an asset and liability
statement. |
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COMMERCIAL
INVESTMENT MORTGAGES
|
Type
of property
Office,
factory, warehouse, light industrial and retail
Loan
Advance
75
- 85% dependent on tenant covenant and property location
Interest
Rate
Interest
rate margins from 0.75% over LIBOR/Bank base rate.
Loan
Terms
Up
to 25 years. Initial Periods of interest only can be considered
Applicant
Type
Personal
name, limited company, partnership, pension fund.
Setting
Up Costs
Typically
a lender's arrangement fee of 0.5% -1% plus valuation and
solicitors costs. |
Requirements
Application form. Full detailed description of the property to be
offered as security. Full schedule of the rental income, tenants and
leases. C.V. and asset and liability statement of
applicants/directors |
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