Mortgages for Business is pleased to announce a new and exclusive mortgage product for experienced property investors looking to purchase or refinance residential investment properties in need of some work based on 70% OF END VALUE (with a retention at the outset).
The majority of lenders will only release mortgage funds once a property is let and the few lenders that will take a view, do not cater for the larger projects or the more complex properties (HMO, Multi-unit Freeholds), or indeed those properties owned in Ltd companies. The product highlights are:-
• Initial loan up to 65% of purchase price or value (whichever is the lower)
• Further funds retained and released post refurbishment up to 70% of end value
• Interest Rate 5% above Base Rate with a 1% loading during the refurbishment phase
• Lender Fee 2.5% (currently deducted from loan)
• Booking fee of £500
• Available for Residential, Semi-Commercial and Commercial property
For further information on this offering and to discuss your needs please contact us on 0845 148 9238.
This page holds details of the complete terms and conditions that you are obliged to adhere to as an Appointed Representative of the Mortgages for Business network.
If you have any further questions around your Appointed Representative scheme then please contact us on 0845 148 9240 or email address network@mortgagesforbusiness.co.uk
Mortgages for Business has been specialising in Commercial Mortgages for the past 20 years and is well placed to assist with your clients’ commercial funding needs.
If you have a client looking for Commercial Mortgage finance then we have the right expertise and whole of market lender relationships to make the deal happen! We can help with any of the following:
- Trading Businesses: Commercial Owner Occupier Mortgages
- Commercial Investment Mortgages
- HMOs & Ltd Company Buy to Lets
- Development & Refurbishment Finance
- Bridging Loans / Short Term finance
- Secured Loans / 2nd Charge Borrowing
For full details of our Commercial Packager Proposition, please call 0845 148 9238.
What Mortgage -
Best National Adviser 2009
What Mortgage -
Best Specialist Adviser & Best Overall Adviser 2008
