Business
Lending Can Be Complex and Expensive Therefore Getting the
Right Deal is Essential, Let an Experienced Professional Broker
Guide You to Source the Best Product that is Based on Your
Individual Circumstances - Contact
Us
The
Business Mortgage
In
the 1990's commercial loans and mortgage finance was generally
only obtainable via high street lenders and banks
with
the exception of a handful of niche lenders which created
a UK business market that was quite inflexible with strict
criteria. In 2002 a new commercial mortgage lender offered
new underwriting criteria which would cater for not producing
accounts and limited paperwork requirements or self certification.
This freed up an opportunity to many small businesses to finance
business growth who previously would probably have not been
able to lend through traditional banks.
Since
then other new lenders have sprung up in the UK commercial
mortgage market that have offered further flexible and more
open minded lending criteria. For example excepting in some
cases poor credit history.
Residential
lending rates are generally set in advance however commercial
lending rates can vary according to the individual circumstances
of the business and business owner. Commercial lending is
generally more complex and involved than standard residential
lending.
Looking at payment history, experience, accounts, the business
plan and projections. Generally speaking the better and more
healthy a business has been and potentially could be will
encourage a lower rate as it will reduce the risk to the the
lender. Remember generally only one in five businesses will
still be successfully trading after five years.
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