The demand for funding in Commercial Mortgages Finance and Business Loans is increasing as each week goes by and clients who have been sitting back waiting for the right moment to come back into the market are now seeing some daylight at the end of the tunnel.
That is not to say all of our troubles are over, but more that clients feel that they do not want to miss out on the right time to come in and find a bargain.
The bargains are certainly there finding the funding unless you have a rather large deposit maybe a little more difficult. Start ups are the most likely to fail to find a lender unless it’s an investor who will want a share of any future profits.
Investment properties are fine at 70% LTV if you have tenants who provide a good strong covenant and the rental income services the mortgage interest by a margin normally 140%,
If you are buying an investment property try to get an idea how your tenant who be viewed by the lender, a high street name would be good but rarely possible. Lenders are so much more at ease with a name that they can identify with; it gives them a bit of cold comfort.
If you are buying to work from the premises they will need to see the affordability factor being covered within the accounts. It’s wonderful to see business picking up but it’s a small sign nothing to get excited about.
Access to funds for COMMERCIAL MORTGAGES FINANCE AND BUSINESS Loans has not become any easier; it’s just that we are working twice as hard to get them agreed.
Michael J Alexander acommcialmortgage4you.co.uk
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