Non Status Commercial Mortgages
Updated: 31st October 2008 (PM)
Non status commercial mortgages -There is no need for audited accounts when applying for a non status commercial mortgage.
The benefits of a non status commercial mortgages
- Up to 70% loan to value available.
- Loan periods up to 30 years
- Interest only options available
- No need for audited accounts, business plans or projections
- Borrowing can be for any purpose
- Simple application form
- No interviews or visits from bank managers
Acceptable non status commercial mortgage security
Almost all Freehold commercial property is acceptable, this includes: Pubs and restaurants, Factories, Semi Commercial, Offices, Investment properties, Retail premises, Hotels, guest houses, takeaways, cafes and holiday lets. If in doubt call us and check. - 0115 9849800.
Service levels
For most applications presented by Sterling Capital Reserve, you can obtain:
- A decision in principle within 24 hours
- Quick turnaround of all proposals
- Same day solicitor instruction
Access to Non status commercial mortgages
We specialise in securing non status commercial mortgages for UK businesses. All cases are supported by professionally prepared credit applications, thereby significantly enhancing the chances of our clients securing the optimum financial package.
We are one of few brokers to retain "master packaging" status or "preferred broker" status with the remaining true non status commercial mortgage providers in the UK.
Unlike some of our competitors, we do not believe in up front charges. Our fees are only payable when our client has received a formal offer of a commercial mortgage, which is usually payable at the time of completion.
Most of the UK building societies and high street banks lend to "low risk" businesses, usually where the business has built up a credible trading history, is currently trading profitably and the ability to repay the mortgage is clearly evident. However, not all UK businesses fall into this category and need an alternative option when the bank says NO!
Unlike traditional banks who tend to concentrate on historic performance, specialist non status mortgage lenders prefer to look forwards rather than backwards, which means that mortgages can be obtained for businesses with: county court judgements, mortgage arrears, no accounts, poor credit rating or a loss making history.
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) which are looking for: debt consolidation, business turnaround/phoenix, new business start ups, business refinance, or where the incumbent bank want their money back!
We can only help you, if you contact us!
Contact Us Online - or call 0115 984 9800.
