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  • Business mortgages | Mortgages for Business
    mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Customer Commercial mortgages Business mortgages Commercial mortgages Rates fees How to apply Business mortgages Commercial investment mortgages Business mortgages Business mortgages also known as commercial mortgages for owner occupiers are designed for individuals and companies purchasing or remortgaging a property to be used as a business premises Business mortgages are also available on mixed use properties i e part commercial part residential such as shops with flats above As independent whole of market brokers we negotiate business mortgages with a range of lenders including major banks regional and local building societies and specialist commercial asset lenders Rates for business mortgages are dependent on your industry sector and by your business performance and your own individual track record The value of a broker within this field cannot be overstated due to the bespoke nature of every single business mortgage transaction Terms for business mortgages are not set in stone and our role in the transaction is to negotiate the best mortgage rate and terms Our wealth of experience and market knowledge means we understand what is likely to be achieved given a specific set of circumstances Please note that some lenders will require the borrower to switch bankers to get the best terms Others will work on a stand alone basis and it may also make sense to keep your business loan separate from your day to day business bankers Your broker will be able to discuss all the options available All finance for business mortgages is tailored to meet the borrower s needs Where suitable elements of the commercial loan structures available to clients can include Interest only mortgage periods Long term repayment

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/commercial-mortgages/commercial-mortgages-explained/business-mortgages/ (2016-02-16)
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  • Commercial investment mortgages | Mortgages for Business
    development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Customer Commercial mortgages Commercial investment mortgages Commercial mortgages Rates fees How to apply Business mortgages Commercial investment mortgages Commercial investment mortgages Commercial investment mortgages are designed for individuals and companies looking to purchase or refinance commercial property to rent out profiting from rental income and property value appreciation Commercial mortgages are also available on mixed use or semi commercial property Commercial investment mortgage rates are individually priced to match the strength of the proposal In basic terms the deposit requirement and headline mortgage rate will depend on the industry sector the quality of tenant the length of the lease and the borrower s investment experience Typically we can arrange commercial funding up to 75 loan to property value dependent on the quality of the asset and the tenant Commercial finance opportunities are not always limited by borrower circumstances and we can accommodate a variety of commercial lease terms and tenant qualities We ll approach a panel of lenders on your behalf including specialist commercial mortgage lenders niche providers banks and building societies After negotiating with the panel we ll select the most suitable lender for you in order to achieve the best plausible funding solution We can provide commercial investment mortgages for a myriad of different types of property across numerous industry sectors including Business single office units office blocks serviced offices business parks Retail shops single retail units shopping parades malls retail parks Industry industrial units parks warehouses factories Leisure restaurants pubs cafes gyms golf courses spas

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/commercial-mortgages/commercial-mortgages-explained/commercial-investment-mortgages/ (2016-02-16)
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  • Non-Residential Stamp Duty Calculator | Mortgages for Business
    Auction Finance Residential mortgages Residential mortgages Rates Loans Fees How to apply Types of mortgage Residential Stamp Duty Calculator Research Case Studies Complex Buy to Let Index Buy to Let Mortgage Product Index Buy to Let Mortgage Costs Index Limited Company Buy to Let Index Property Investor Survey Money Markets FAQs FirstRate MFB TV Helping brokers with Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Case processing BrokerBusiness Case Studies Consulting Buy to Let Lending Mortgage Flow Published Research News Insight Buy to let mortgages Commercial Mortgages Property Development Finance Bridging Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Calculators Non Residential Stamp Duty Calculator Calculators Residential Stamp Duty Calculator Non Residential Stamp Duty Calculator Mortgage Repayment Calculator Buy to Let Tax Calculator Stamp Duty Calculator Non Residential Property Work out how much Stamp Duty Land Tax SDLT you need to pay using our stamp duty calculator The following information is for individuals purchasing non residential property Not applicable in Scotland which has a similar but different tax Land and Buildings Transaction Tax from April 01 2015 Non Residential Stamp Duty Calculator Stamp Duty Land Tax for commercial property purchases not residential or BTL SUBMIT On completions on or before 31st March 2016 you will pay From 1st April 2016 you will pay on first home purchases and on all BTL and second home purchases Stamp duty payable Non residential or residential Struggling to understand whether your next purchase of land for development will count as a residential or non residential transaction You aren t alone The basic rule is that the residential rate of Stamp Duty Land Tax will only apply if the land that is being acquired under one bargain consists

    Original URL path: http://mortgagesforbusiness.co.uk/calculators/non-residential-stamp-duty-calculator/ (2016-02-16)
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  • Property development finance | Mortgages for Business
    Short Term Finance Residential Mortgages About Meet the team Our approach Awards Testimonials Careers Contact us 0845 345 6788 Share Property finance solutions for all Buy to let mortgages Commercial mortgages Property development finance Short term bridging loans Residential mortgages Whatever your funding needs let our expert award winning brokers find the right property finance for you Customer Broker Buy to let mortgages Commercial mortgages Property development finance Bridging short term finance Residential mortgages Property finance research Helping property developers get the right finance We have funding solutions for new build projects redevelopments major renovation works or just general refurbishments We can help with residential commercial and mixed use developments Property development finance explained Key features Rates from Bank Rate 4 5 Loans from 50k 25m Up to 70 of costs Interest rolled up or paid monthly Rates Property development finance What will you pay Loans Property development finance How much can you borrow FAQs Case studies News Insight Some of our lenders ANY PROPERTY USED AS SECURITY WHICH MAY INCLUDE YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE Need help Meet the team Paul Keddy CB PSB 01732 471655 Email Gavin Elley BSc Hons CeMAP CertBB C 01625 416398 Email Paul Martins CeMAP CertBB C 01732 471616 Email Steve Bedford CertBB C 01732 471609 Email Steve Olejnik CeMAP DipCF 01732 471612 Email Andy McOwat CeMAP CertBB C 01625 416396 Email Chris Longhurst CertBB C 01732 471607 Email John Kennon ACIB 01625 416390 Email Gary McKenna CeMAP 01732 471652 Email Nick Helm ACIB CeMAP CertBB C 01732 471608 Email Andy Elley CeMAP CertBB C 01732 471644 Email Jeni Browne CeMAP Adv CeMAP CertBB C 01732 471647 Email Property development finance News and insight See all news Property development land prices in urban areas

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/property-development-finance/ (2016-02-16)
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  • Property development finance rates and loans | Mortgages for Business
    mixed use developments We ve spent the last 25 years helping experienced and new property developers find the finance they need to start and finish their projects Property development finance is not usually used for smaller scale developments like the ones you often see on TV where developers improve a house or flat then sell it on for a profit Generally this type of work is funded by refurbishment finance or a bridging loan And we can help with that too Rates What sort of rate can you expect to pay There are no set rates for property development finance That s where we come in We have access to the whole market and work with a panel of specialist property development lenders and other institutions to find the right match and negotiate the best rate for each proposition The lenders assess each application individually and price according to the strength of the development proposition and the borrower We have years of experience in this field We know what information should be included within an application and how best to present it for submission That s not to say we can t give you an idea of what you might expect to pay At the moment a good benchmark starts from around Bank Rate currently 0 5 variable plus 4 5 Usually the interest can be rolled up into the loan so there are no monthly payments Loans How much can you borrow The loan amount is based on a percentage of the gross development value GDV at the end of the work currently up to a maximum of 60 loan to GDV with a maximum of 75 of the total costs Typically we work with developers looking for funding from as little as 250k through to projects needing finance in excess of 25m There really isn t an upper limit but if you want to borrow a smaller amount a refurbishment loan is likely to be more suitable Loans are normally structured to ensure that the developer s contribution is utilised up front with the lender providing the majority if not all of the build costs It is usual for funds to be drawn down in stages against architect s or quantity surveyor s certificates For example A developer has planning permission to build three houses with the gross development value estimated at 4 5 million The total costs involved are 3 1 million made up of 1 25 million for purchasing the land and 1 85 million in build costs A lender might agree to development finance of 2 32m limited to 75 of costs structured as 320 000 initial advance followed by the balance in stages throughout the build Loan to project costs will be influenced by projected gross property development values but funding is available up to 75 of the purchase price and build costs It is often possible to organise a loan to finance up to 100 of the property development costs where the borrower

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/property-development-finance/property-development-finance-explained/rates-loans/ (2016-02-16)
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  • Property Development Finance Fees | Mortgages for Business
    6788 Share Customer Property development finance Fees Property development finance Rates Loans Fees How to apply Refurbishment finance Property development finance fees There are a number of costs and fees to consider when applying for property development finance however unlike off the shelf products actual fees applied and fee scales are not set in stone but are likely to include some or all of those listed below Take a look here at some of the developments we ve helped to finance recently We will always provide you will a comprehensive breakdown of the fees that apply to your project And if you require further clarification please ask us Arrangement fees Also referred to as a facility fee these fees are charged by the lender for arranging the loan and are typically priced at 1 2 of the loan amount Exit fees The fee payable to the lender to close the loan facility Some lenders do not charge exit fees at all but many do Some lenders charge exit fees as a percentage of the loan amount but others and these are the fees you must look out for base the fee on a percentage of the gross development amount This can make a considerable difference so don t be fooled into taking what looks like a more competitive rate without doing the sums first Currently exit fees on development finance cost in the region of 2 For example Say a developer owns outright land worth 500k He then borrows 800k to build four detached houses and at the end of the project the Gross Development Value is 1 8m 2 exit fee based on loan amount 16k 2 exit fee based on GDV 36k Clearly this demonstrates the importance of understanding the entire deal so do get in touch with one of our brokers if you have any questions Valuation fees As part of the application and risk assessment process lenders will instruct a surveyor to place a detailed valuation on the development The scale of these fees will depend on the size of the project If the project is extensive you may also have to pay fees to a monitoring surveyor or architect to confirm that the project has attained a certain standard as the build progresses Lenders often use this system to ensure that funds are drawn down in a controlled way Broker fees These are the fees that brokers charge for finding a suitable lender negotiating a price and getting the client a suitable formal loan offer All brokers charge differently At Mortgages for Business we typically charge between 0 5 1 of the loan amount depending upon the complexity of the case Normally we only charge fees if we are successful in getting the client a formal loan offer We may also charge an administration fee but we will always tell you exactly what you can expect to pay up front Interest The monthly interest payments on the loan will depend upon the rate you are

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/property-development-finance/property-development-finance-explained/fees/ (2016-02-16)
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  • How to apply for property development finance | Mortgages for Business
    out viability costs end value and profit margin get in touch on 0845 345 6788 It doesn t matter if you don t already own the land property We will then ask you lots of questions known as a fact find to get as much information about the development as possible This will allow us to appraise your project and give you an honest opinion as to whether we can help i e we ll let you know if there are any lenders who might be willing to provide the necessary finance We have years of experience working with lenders to finance developments large and small We can help with residential commercial and mixed use developments Here are some the projects we ve helped to finance recently If we can help we ll provide you with an indication of the type of rate and terms you can expect to be offered This information is often known as indicative terms and will include a breakdown of the anticipated costs and fees The proposal application If the indicative terms are acceptable to you we will start the process of compiling the proposal and submitting an application to the most suitable lender You should be prepared to provide a full development appraisal to include the following CV and evidence of previous development projects experience Details of the planning consent including any restrictions Section 106 or Community Infrastructure Levy requirements Drawings plans Full breakdown of the development costs Likely end value of the project known as the Gross Development Value Schedule of works and build stages Timetable for release of funds which ties in with the end of each stage of the build Asset and liability statement Financial accounts Full details of the professional team involved Proof of identity Exit strategy e g sale or refinance Site visit Lenders are always keen to meet the developer to understand the project from a professional and personal standpoint so we will arrange a site visit between you and lending manager Usually we will accompany you to help answer any questions and support your application Formal loan offer After the site visit the lending manager will submit a report on the project which helps with the underwriting process Your application is then submitted to the underwriters At this stage there is often a bit of toing and froing to ensure that the lender has all the information needed to make a decision If the underwriting is positive your application will go before the lender s credit committee for approval Once the committee has approved the application the lender will issue a formal loan facility offer subject to the findings of a valuation report The offer will confirm the precise terms of the loan including rates costs and fees Valuation The lender will require a valuation report which comments on certain aspects of the development We will arrange for this to be carried out by a surveyor who is recommend by the lender The surveyor will comment on

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/property-development-finance/property-development-finance-explained/how-to-apply/ (2016-02-16)
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  • Refurbishment finance | Mortgages for Business
    much smaller projects than property developments Loans How is the loan structured Refurbishment finance is structured to provide funds in two tranches The lender will provide an initial advance based on a percentage of the purchase price with the balance released post works and re inspection The actual loan amount is based on the projected value of the property post refurbishment and the anticipated achievable rental income For example An investor purchases a property for 200 000 and plans to spend 40 000 refurbishing it to increase its value to 300 000 The lender agrees a loan of 210 000 which is 70 of the end value Initially the investor receives 140 000 which is 70 of the purchase price Once the works have been completed and inspected the lender advances the remaining 70 000 giving the investor 30 000 free cash post works For lenders there are two kinds of property refurbishment Light refurbishment This is where no planning permission building regulations are required and where there is no real change to the overall use nature of the premises Common light refurbishments would include new bathroom new kitchen redecoration rewiring new windows etc Typically refurbishment finance for standard buy to let houses and flats is available up to 75 of the end value with rates starting from around 5 5 There are also finance options for more complex properties including HMOs and multi unit freehold blocks of flats as well as finance for applications made through limited companies or from first time investors As you would expect the more complex the proposition the higher the rate you can expect to pay Heavy refurbishment This is where there are structural changes to the property and planning permission building regulations are required Rates What sort of rate can you expect to pay Options will depend on whether you wish to keep the property as an investment post refurbishment or whether you intend to sell the property after works If you intend to keep the property as a buy to let then you may get rates starting from say 5 5 for light refurbishment and slightly higher for heavier projects If you are looking to refurbish and sell then shorter term options are available starting from c 0 7 per month Give us a call to talk through the options Fees As with all property finance a variety of fees will be due Here s a list of what you can expect to pay Arrangement fees These fees are charged by the lender for arranging the loan and are typically priced at 1 5 to 2 of the loan amount Exit fees Not all lenders apply exit fees which is why it is always worth talking to a broker to find the best deal Exit fees are charged at the end of the loan and can be a percentage of the loan amount or sometimes the gross development value which can really push up the project costs Valuation fees As part of

    Original URL path: http://mortgagesforbusiness.co.uk/property-finance/customer/property-development-finance/property-development-finance-explained/refurbishment-finance/ (2016-02-16)
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