We currently have active commercial mortgage lenders who will accept non-status applicants. Non-status commercial mortgages are specifically for applicants who may not have all the necessary historical financial information that the mainstream or high street banks require to satisfy their lending criteria. Or the applicant’s credit profile may be poor, the business who took out the mortgage may hit hard times and picked up adverse credit or fallen behind on their current mortgage payments.
For the above reasons non-status commercial mortgages are regarded as high risk and therefore the lenders we have who will accept this credit profile will charge a higher interest rate and will have a restricted loan to value ratio. Typically you can expect to be lent no more than 65% of the 90-day valuation.
Key features of non-status commercial mortgages
- Commercial Loans from £25,000
- Rates from 0.9% per month.
- Interest Only or Capital & Repayment.
- Maximum Loan to Valuation 65% of the 90 day figure.
- Flexible repayment terms with no minimum or maximum available.
- All commercial properties considered including residential buy to lets, Land, Agricultural, Equestrian Properties, Public Houses, Hotels, Care Homes, Offices, Retail, Convenience Stores & Take Aways.
- Adverse credit & mortgage arrears are considered.
- Incomplete accounting information accepted.
You should clearly not enter into any mortgage or loan agreement where you do not have the ability to make repayments. If your business has turned the corner and have the ability to service the loan a non status commercial mortgage can offer you solution.
For more information on commercial mortgages speak with one of our advisors on 0114 2945 046