Commercial Mortgages, development & bridging finance
Funding for developments and commerical purposes is still very much available in the current market.
Finding it is the challenge.
Through years of experience, John Charcol can source the most competitive terms from across the market.
Relationships with mortgage lenders many people have never heard of help us secure finance where others cannot.
Commercial Finance
A commercial mortgage is quite simply a mortgage that is lent to an individual or company to buy a business property and this can be for you own use or that of a third party. Commercial mortgages are available to purchase a huge range of different types of property for business purposes.
These include:
- Commercial buy to let property
- Land for development
- Public Houses
- Hotels & Guest Houses
- Restaurants
- Farms and other agricultural land
- Leisure Industry
- Warehouses and Factory Units
- Office accommodation
There is no real limit to what can be borrowed, but the loan to value of a mortgage varies quite significantly between different types of property. To find out more complete the enquiry form below and a commercial mortgage expert will be back to you shortly to discuss your requirements.
Development Finance
John Charcol works with a number of financial institutions and specialist lenders which currently have appetite for financing residential development projects in mainland UK. Mezzanine loans can also be arranged to rank behind senior facilities already secured by developers. As you would expect, lenders are very selective in the current market so it is essential to put together a properly structured presentation to help guarantee a project’s chances of success.
John Charcol has extensive experience in working with lenders and understands the key points they focus on. If you complete the short enquiry form below then one of our experienced development finance specialists will come back to you very soon.
Bridging Finance
Bridging Finance is a short term loan that provides fast access to funding when it is needed most. Bridging loans can be used to raise funds for any legal purpose and are designed to last for no longer than 12 months and require you to have a strategy in place to ensure that you can repay the loan.
To provide an example, bridging finance may be suitable for people who purchase a property at auction, where funds are required quickly. It is much quicker to arrange than a normal residential mortgage; on average 7-10 working days from the first enquiry to completion.
Auction Purchase
A customer was successful in purchasing a property from auction for investment purposes, but had a deadline to complete of 28 days. Although the customer's bank agreed the finance in principle they would have struggled to complete the loan within the timescale needed. The customer did not wish to lose his deposit so he arranged bridging finance and was able to complete the loan within 5 working days. The customer was then able to re-mortgage with his bank to redeem the bridging loan.
Capital Raising
A customer had an outstanding VAT bill and was given a final demand to pay the bill within one week. The customer was in the process of re-mortgaging a portfolio of buy-to-let properties but was not able to release the equity in time to pay the outstanding bill. The customer did not want to risk waiting for the re-mortgages to complete so he enquired about bridging finance and was able to complete the loan within 48 hours. The customer's re-mortgages completed shortly after; which redeemed the bridging loan.
Should you think that bridging finance might provide a solution for you then please call one of our advisers who can discuss it with you at length:
Mutuals make their move
17/05/2013 by
The Building Societies Association (BSA) has revealed that mutual lenders increased their mortgage lending by 19% year-on-year, in the first three months of 2013, from £6.5billion to £7.7billion. ...
Hear Ray Boulger talk mortgages to BBC Moneybox Live
18/02/2013 by
John Charcol's senior technical manager Ray Boulger was part of the team of experts on BBC Money Box Live on mortgages recently. You can listen to what he had to say about low interest rates, charges, first time buyers and a host...