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Commercial lenders decide the
exact terms for commercial loans on an individual basis, taking into
consideration all factors, including trading performance, type of business,
location, property security, borrowers experience and business history. The
following are typical and for guidance:
·
Typically 70% Loan to Value
(0r purchase if lower) –
Dependant
on business type.
·
Average Interest rates typically
1.5 to
2% over bank base rate, depending on loan amount
·
Repayment periods from 10 - 25
years (Normal maximum term 15 years)
Source
Yorkshire Bank 18/07/07
·
We can also assist with "Non
Status" and "Self Certification" commercial finance, on
alternative terms
The
above represents our understanding of what is currently available. Please call
us to discuss your specific requirements. Bear in mind that you can have more
than one facility - in other words you can mix and match. Not all the above
features are available in any one scheme. All loans subject to lenders
acceptance and all rates and criteria subject to variation - all data given
for illustrative purposes only. Interest rates based on Bank of England Base
Rate @
5.75% The interest rates are subject to frequent change, so please check
with us for up to date figures and terms.
(Bank Base Rate @ 11/07/07)
Our
fee is one percent of the facility procured, with a minimum of £500, with
50% payable on acceptance of lenders "in-principle" offer and
balance on receipt of formal offer. We do not charge any advance fees, though
lenders valuation fees are usually payable upon application.
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