Self Cert Commercial Mortgage
Clients that cannot provide the required documents i.e. accounts for last three years because they are a new company or they do not have standardised accounting procedures will require a self cert commercial mortgage.
Self Certification commercial mortgage lenders do not require business accounts, P60s or other income verification. Lenders review the client’s credit history and the commercial and residential mortgage payment history. Usually adverse credit is not a problem but lenders will adjust the loan-to-value and the rate charged to reflect the risk.
At Mayfair Consulting we have products that cater for the coomercial landlord offering interest only for the full term of the mortgage as long as a simple market rent cover is satisfied.
Specific products are:
- Variable or fixed rate mortgages
- Up to 85% LTV (100% with additional security)
- Variety of interest only options
- Margins from 0.75% above Bank of England base
- Terms from 10 – 30 years
- Self Certification
In addition we can lend on:
- Farms
- Pubs/bars/restaurants
- Retails units/retail units with living accommodation
- Small hotels/guest houses/holiday lets/B&B’s
- Industrial units/factories/offices/warehouse
Lateral thinking and acceptance of risk is the secret of our success. We have many major house builders on our books as well private individuals.
Think carefully before securing other debts against your home.
Your home may be repossessed if you do not keep up repayments on your mortgage.
The overall cost for comparison is 7.1% APR. The actual rate available will depend upon your circumstances. Ask for a personalised illustration. There may be a fee for the mortgage advice. The precise amount will depend on your circumstances, but we estimate it will be 1.5% of the loan amount with a minimum fee of £500 added on to the loan.
Mayfair Consulting Limited is an Appointed Representative of The Mortgage Times Group Limited, 279 Tottenham Court Road, London , W1T 7RJ , which is authorised and regulated by the Financial Services Authority no. 303007.
