Where clients are unable to provide a suitable proof of income which we would normally expect to be in the form of the last 2 years trading accounts we now have access to a number of lenders who are willing to consider lending up to a maximum of 85% loan to value without the need for proof of income. You are allowed to self certify your income and if this is at the level acceptable to the lender we would not normally require any further proof from you.
We can also consider clients who have had a bad or adverse credit history together with being unable to prove their income. This is a relatively new concept in commercial property finance, but borrowers must accept that with a higher risk to the lender comes a higher interest rate charged to the client.
However this opens the door for many prospective clients who previously would have not been unable to have access to a Commercial property mortgage as they would not be considered by high street lenders. When these clients are in a stronger position normally after 2 or 3 years trading, and they would then have the benefit of an increased level of equity in their property we may be able to replace their existing lender with more acceptable terms subject to status and credit score.
We have successfully arranged finance for: Doctors, Dentists, Accountants, Solicitor practices, Industrial Warehouses, Factory Units, Offices, Residential Shops, Nursing Homes, Guest Houses, Public Houses, Golf Courses and Restaurants. As well as providing commercial mortgages, we can also arrange property development finance for both residential and commercial property developments across the spectrum from large commercial property establishments down to the smaller commercial developments.
If you have had county court judgements, have been in an IVA or have previously been made bankrupt or have had mortgage arrears we are still in a position to help you and can offer you a scheme to suit your needs. We are very positive about lending and with over 40years of experience in financial services we just hate to say no.
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Commercial Tool Suite
Ok we have been working very hard on our new commercial mortgage tools from the basic calculator to the advanced property price predictor tool. Our new property tool suite is finally finished and ready for you to download and trial, featuring a mortgage calculator, property price predictor, home paint pad, map getter and more.
Size: 11.3mb
OS: 98/ME/XP/NT/2000
Type: ZIP (Exe setup)
If you like our software and want to leave a comment then visit our commercial mortgage blog. We continue to develop new commercial mortgage tools.
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Site Updates: Thursday 7th Aug 2008
Featured in The-Mortgage-Hub ã 2006
Site Last Updated: Thursday 7th Aug 2008
Ó www.acommercialmortgage4you.co.uk - Specialists in commercial mortgages and commercial finance
Commercial Mortgages and Professional Mortgage Advice from Michael J Alexander Group
Having no accounts would normally make life a little difficult as a self employed person when you want to purchase or re-mortgage a commercial property. However we now have Self Certification of Income, which takes the place of non-status or no proof of income loans. Lenders have taken the positive view that if they have an acceptable level of security they will not insist on trading accounts. This has been a massive boost to business and encourages clients into the market who have not been able to find finance in the past.
