I am pleased to announce that the Commercial Mortgage Team within Enable Finance are today able to announce a new commercial mortgage product that will consider businesses and applicants that have been previously declined due to a bad credit rating.
The bad credit may have been registered to your Limited Company or you the Owner / Director. While the commercial mortgages are available on a non status basis commercial mortgages are assed individually on there own merits.
Bad Credit Commercial Mortgage – Product Overview
Loan Sizes: min £50,000.00 Max £250,000.00 with loans in the region of £100,000 to £200,000 being reviewed favourably
Loan to values: up to 60% of the 180 day market value of the property but taking account of the 90 day value
Property types / Acceptable Lending security
Examples: residential, retail, offices, warehouses, factories, garages, care homes, cafés and restaurants,
Limited priority on: farms/farm land, hotels, public houses (including working men’s clubs)
Exclusions: development (including development land), nightclubs, petrol stations, waste transfer sites, fish farms, caravan sites, golf clubs, commercial leasehold security and any other property which may be viewed upon as “exotic or extreme”
Location: Exclusions in more isolated rural areas (non applicable to farms/farm land)
Tenure: freehold only on commercial security, with min 125 years on residential leasehold security
For more information on commercial mortgages and how Enable Finance Ltd can help your business contact one of our Commercial Finance Advisor or why not apply on line for a Risk Free commercial mortgage quote.