Brand New Commercial Mortgages Price Promise !

The team at Charleston Financial are pleased to announce that they are launching a price busting challenge to commercial mortgages customers.

The new scheme applies to customer who have received offers from any challenger bank or broker. This is for investment commercial mortgages, or business commercial mortgages.

By taking advantage of our key partnership with market leading lending stars Shawbrook and Interbay we are pleased to be able to offer customers who have received quotations from non-Charleston accredited brokers, or directly from any bank a chance to try our out price busting challenge.

All you need to do is supply our new business department with a copy of the lending initial offer and let us work our magic.

We will provide you with our market leading solution within 2 working hours, and will always look to under cut our competition on price, service and transparency. We will never hesitate to tell you if the mortgage offer you have received is unbeatable (highly unlikely).

Charleston Financial has been able to save their customers thousands  by offering the ability to clients who have been looking at commercial mortgages elsewhere an alternative option.  We have found through extensive research that many commercial mortgage brokers are still offering clients rates and products that just do not suit their clients needs, or worst still, scheme which the customers do not even qualify for.

By offering to review customers genuine mortgage offers for free, we aim to be able to cut the costs that clients pay out to obtain commercial mortgages, whilst still keeping the same high quality service that we offer day in and day out.

We deal with commercial mortgages for offices, shops, specialist buy to lets for example HMO’s, multi unit flats and can even arrange the mortgage on an interest only basis to assist with business cash flow

Contact our new business team on 01442 215 527 to find out more

The post Charleston Price Promise for Commercial Mortgages appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

For small business owners, whether in retail, legal services or even property; the coming twelve months will no doubt be difficult and may even be make or break which is why sourcing the right financial support is crucial. Whatever the industry and whatever the situation, there will no doubt be a requirement for financial aid yet with so many businesses now struggling to make ends meet and as a result, viewed as far too much of a risk, it can be difficult for many business owners to determine where they should turn to.

Finance solutions for small businesses can be sought with a little research, understanding and preparation. For those in need of a commercial mortgage for a new business property, development finance for a new project or a quick loan for debt recovery; there is no reason why finding the right solution should not be possible.

In order to find the ideal solution; small business owners must have a solid understanding and awareness of what the process will involve and be prepared for just what hurdles they may face.

1. Do you know just what your business needs? What are your financial requirements? Is the purpose of your loan for debt recovery or to finance new business plans? Understanding and being solidly able to outline your exact needs and just how every penny of the loan will be spent will work in your favour and show clear awareness.
2. Can you provide solid business proof? As much as it is important to ascertain what your business finance will be used for, you need to be able to provide a clear business outline, determine how finances will assist your business, the potential of business growth and the ability of the business to repay the loan. A strong business plan will declare awareness, dedication and determination to lenders.
3. Do you know enough about your lender? Going in blindly will never work for any business, especially the small businesses who are in dire need of financial support. Do you know what your chosen lender has to offer? Are you aware of all terms and agreements and do you have enough knowledge to negotiate the best deal? Understanding as much as possible about your chosen lender and your chosen loan will only improve your position.
4. Have you researched your options? With banks still so resistant to small business lending it may seem like all avenues are closed however lending can still, quite easily be possible. There are a range of commercial mortgage brokers that now offer a variety of commercial finance solutions that can easily be accessible to the small business owner. Whether you have adverse credit, have previously been rejected a loan by a bank or are simply unaware of where to turn to then consider taking the time to research the range of alternative lenders that are available on the market.
5. Are you providing enough information as possible? When applying for small business finance, it can be tempting to omit specific information or refrain from telling the complete truth about business or even personal credit history. When applying for any form of small business finance, it can be all too easy for many companies to hold information back but when hoping for a successful loan application it is important to provide as much detail as possible as anything held back could work against your favour.

For those seeking business finance, not all options are impossible and not all routes are closed. Despite banks and leading finance authorities deeming the small business too much of a risk; the probability of securing the right loan still remains as long as the right knowledge, understanding and awareness are in place.

Do you know enough to secure the finance your business needs?

The post Small Business Finance: Knowing Just What To Do appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

Whether for the purpose of debt relief, business growth, new plans or to assist with cash flow; the small and medium business will, at some point or another, require monetary assistance. However, unless in possession of an impeccable credit record, smooth cash flow, an impressive record of business accounts and a substantial deposit; the right support may seem impossible to find.

For those struggling to obtain commercial finance; the alternative lender may be able to provide the ideal solution. A once, archaic source of lending; many alternative lenders including the commercial mortgage broker are now openly viewed as the most reliable and trustworthy financial sources available on the market and for small and medium businesses, whatever the need and whatever the financial condition of the business; there is no immediate reason why the ideal financial solution cannot be sought.

For strict business finance options; a commercial mortgage broker is considered the ideal solution. Expert in a range of financial options and having access to a strict portfolio of commercial lenders; a commercial mortgage broker can source the ideal solution and often at the best rates.

What is offered by a business will all be dependent upon experience level however, the most trusted and expert commercial mortgage brokers will offer a vast range of financial solutions which can include:

• Commercial Mortgage- The main source of business finance, a commercial mortgage is an ideal solution that can provide stability, improved cash flow and property ownership, to a business of any size. The average commercial mortgage agreement can last for up to twenty years.

• Bridging Loan- Need immediate funds for debt recovery or a speedy business transaction? Then a bridging loan is ideal. Often arranged in a matter of days, a bridging loan is the perfect solution for any unexpected costs your business may face however, the short term repayment may make this a risky investment.

• Conveyancing- Have you sourced the ideal business property? Then conveyancing and legal work is an integral part of the process that many independent brokers can deal with.

• Development Finance- Are you looking to grow your business? Development finance can be the ideal solution for any construction plans you may have in place for your business.

• Invoice Financing- Maintaining a steady cash flow can be a great struggle particularly when invoices are never paid on time. With invoice financing however, you can ensure your business remain protected from any financial strain.

• Leasehold Finance- For those looking to obtain a leasehold property then leasehold finance is crucial.

• HMO/Buy to Let Mortgages- If your business lies in property than you will need a trustworthy mortgage agreement at the best possible rate. A specialist commercial mortgage broker may offer mortgages for buy to let properties and properties that are to be rented to multiple occupants.

For small and medium businesses, obtaining much needed commercial finance may quite easily be difficult however, it is by no means impossible. Searching for an alternative lender who can offer a range of solutions and is far less likely to immediately place small and medium business into the ‘risk’ pile can be the ideal solution.

If in need of business finance solutions, yet unsure where to begin then it may be wise to take the time to research the market, the varying lenders and the options available because even if your business has suffered previous loan rejection; searching for your ideal commercial finance options elsewhere is not impossible.

The post Business Finance Solutions appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

According to the latest news reports, businesses are still struggling to receive commercial finance and with banks persistently declining many small and medium corporations the support they need; it is not surprising that all commercial loan applications are viewed as difficult endeavours.

Despite the Bank of England’s declaration into the end of recession and a promise of increased support to the small and medium businesses in and around the country via the funding for lending scheme; the struggle to obtain much needed lending still remains.

It appears that, the continuing economic strain has dubbed those unable to provide a hefty loan deposit, as far too much of a risk for any form of substantial lending and thus; the small and medium businesses which often fall into this category are often left stranded. The immediate rejection is not all that has worried a range of business owners, the worry also lies around hidden charges and abnormally high arrangement fees that have left those lucky enough to have received any support; in a far worse position then when initially started.

The unreliability of the high street lender may have proven many things but one issue it seems to have brought to light is the value of the alternative lender. For many years, prior to the economic recession, the alternative lender; be it the building society or the mortgage broker, was deemed as the unfashionable choice however, as a distrust in banking authorities grew, a new found trust in the alternative lender blossomed.

As an independent source of finance; the alternative lenders provide a better scope, increased trust and greater opportunity for financial aid. For the small and medium businesses that may or may not have suffered previous loan rejection, the commercial mortgage broker has proven to be a reliable and trustworthy source.

As an alternative lender; a commercial broker works on behalf of a business to source the ideal form of financial lending. Where one option may not be viable, another may be presented, as immediate rejection remains an unfamiliar trait to the broker.

The commercial finance broker offers a range of finance options that can include:

• Commercial Mortgage
• Buy to let Mortgage
• HMO Mortgage
• Bridging Loans
•  Conveyancing
• Development Finance
• Invoice Finance
• Life Insurance

A specialist mortgage lender possesses access to strict portfolios of commercial loan lenders and can provide access, to a range of low interest loan opportunities. In contrast to bank salesmen, commission is not a factor and the success of a commercial broker lays in the success of matching businesses with the right lender and securing a lasting finance agreement.

By analysing personal and business finance records, cash flow, projections and the overall risk of a business and the lender; a commercial mortgage broker will always work in the best interests of your business and provide the best possible solution.

The benefits of obtaining commercial finance from an independent broker are endless and can include:

• Varying rates of mortgage (fixed rate, interest rate and so forth)
• Financial Stability
• Improved Business Cash Flow
• Low Interest Rates
• Tax Deductibility

Seeking commercial finance is still not without its difficulties however; with an independent commercial mortgage broker the opportunities are far greater. Using the LTV and DSCR ratios; a logical solution can be determined.

Financing commercial requirements, whether debt recovery or growth and expansion, can seem impossible in today’s difficult economy however, all avenues are not lost and the possibility of securing commercial finance still exists in the hands of the right lender…

The post The Difficulty Of Business Finance appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

Whatever the business size and whatever the financial requirements, it is vital to ensure that, as the borrower; you are as educated as possible on all areas of your agreement, what evidence and documentation may be required from you and what fees may be charged. Only a solid understanding will ensure that whatever loan you chose; you make the right decision, in the best interests of your business.

Unfortunately, despite the very public end to recession and the government’s efforts to increase lending; many business owners have still found immense difficulty in gaining the right commercial support from the nation’s banks.  Reports have even gone so far as to reveal that a large number of business owners have been left in the dark over true costs and fees of commercial loans and the serious lack of communication has even left many worse off than before.

For this specific reason; many business owners in need of commercial finance are encouraged to contact a specialist business broker service. Brokers are independent and proven to secure the right financial agreement, provide solid support and 100% transparency throughout the application process.

Whatever your final decision may be; below are the top ten FAQs that you may require the answers to during your search for business finance. Educate yourself on the below and ensure you get as much clarity as possible from your chosen lender.

1. How do I know which loan is best for my business? When searching for the right business finance there are two possible scenarios that may occur. You may either be ‘sold’ a loan of no relevance or your business may actually be assisted with financial aid; the difference? The right lender will analyse all areas of your business, determine what your business can realistically afford and whether repayments and fees can be comfortably met.
2. How long will the agreement last for? This is a crucial factor that will need to be discussed; bridging loans are short term agreements that may need to be repaid within a matter of months whereas a commercial mortgage agreement can run between fifteen and twenty years. Are you aware of just how much commitment is required from you?
3. Will you carry out credit checks? In order to determine your capability as a borrower; all lenders will carry out in-depth checks into business and personal accounts. However, although many banks may reject those with poor credit history, the alternative lender may provide better opportunity.
4. How much can I borrow? Again this is all dependent on the financial option you select; bridging loans can be arranged for large sums of finance whereas invoice financing may be significantly lower.
5. How much of a deposit will I need to provide? This will be dependent upon your choice of lender and the criteria that has been put into place. Many lenders may offer 100% of the loan without the requirement for deposit however for commercial mortgages it is often only 80% of the loan that is provided. Your lender will again discuss the options available and highlight any guarantees that will need to be put into place.
6. Do you need to know my business outgoings? Cash flow is a crucial deciding factor within loan applications as lenders will need to determine whether your business can comfortably make repayments.
7. Will I need to reveal my own salary? It is not uncommon for businesses to demand a clear insight into all finances, personal or otherwise in order to determine your capability as the borrower.
8. Can I settle my loan before the end of my agreement? Yes, with a majority of loans early repayment is definitely an option however you may face charges for doing so.
9. How long will it take to process my application? There is no definitive time and factors including loan type and the current financial situation of a business will play a huge part in this. As short term agreements, bridging loans can be agreed within days however for lengthier loans, the decision process may take time.
10. Who is responsible for repayments? Often the director of the company is held responsible however it may all be dependent upon the legal structure of your business.

It is wise that when opting for a loan, you remain aware of the questions you need to ask and the answers you need to obtain in order to ensure that the best interests of your business remain a priority.

Are you asking all the right questions?

The post Common Business Loan FAQ’s appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

Andy Knee, chief executive of LMS, said: “The remortgage market contracted in 2012 owing to exceptionally low levels of activity in the second half of the year.”

There were a total of 310,000 transactions last year, down from 374,000 in 2011, with the total value of these loans falling to its lowest level since 2005 at £2.7bn.

And December’s figure was not only the lowest recorded in 2012 but also the lowest monthly value since the end of 1999.

Knee said this stagnation is reflected across the mortgage market and can partly be attributed to a seasonal lull in homeowner activity.

LMS estimated that the total number of remortgage loans advanced fell by 14.2% to 19,279 in December, down from 22,470 in November.

Knee said: “The drop in activity in the second half of 2012 was widely anticipated due to the introduction of the Funding for Lending Scheme which is widely expected to bring a pick up to the mortgage market in 2013.

“December’s drop can also be attributed to savvy homeowners holding off for more competitive products in the New Year combined with the normal seasonal lull in activity in the months leading up to Christmas.”

However the average remortgage loan amount increased for the fifth consecutive month in December, rising by £1,980 to £140,553.

December’s figure is 6.1% higher than the same time in 2011 at £132,528 and the highest it has been since January 2009.

While total lending is down those remortgaging are borrowing more.

Knee added: “We expect FLS to increase competition between lenders and this should result in better deals for the mortgage customers and a restoration of growth in the market in 2013.”

In order to find how Charleston Financial can help you with your commercial and residential mortgage needs, contact our new business line on 01442 215 527

The post Re-mortgage levels are at lowest in 13 years appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

Like private lending, business lending has been harder to come by in recent years because of the recession and the instability of the property market, but it is not impossible to be successful if you are well prepared. Similarly to private mortgages, multiple applications for business finance will damage the credit worthiness of your company so it is advisable to first apply with a lender who is likely to accept you.

While it is perfectly possible to apply yourself, you should consider whether it really is the most practical and beneficial route as it will involve filling a separate and lengthy form each time, and you would not have the overview of the market that a broker does.

Mortgages often come with various financial incentives, and penalties that can offset the benefit of a seemingly low interest rate, but brokers have the knowledge and experience that enables them to compare all available mortgages and provide you a monthly repayment figure taking all of the criteria and your circumstance into account.

They can also often give you an “approval in principle” from your chosen lender very quickly. In addition, you will have to submit your documentation only once, to them.

When considering your application, a lender will take into account your experience, past performance, the current financial health of your business and its long term business plan, which will determine the interest rate you will be offered. You may also be asked to provide a detailed business plan to show that you can make the repayments.

The post Commercial mortgages – the basic process appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

Whatever finance option and whatever the needs of the business; the previous year made evident that banks and high street lenders are less inclined to support those with adverse credit history and struggling business accounts but is all lost?

Adverse credit can refer to a number of issues however; anything that may affect the loan capability of a borrower will all be dependent upon the lender and the lending criteria that are in place.

Common credit issues that may be analysed during a commercial loan application can include the following:

• Personal Finance History- Dependent upon the type of finance that is requested; lenders may analyse the personal credit history of the business owner. Does the business owner have a steady personal cash flow? Does the business owner have a personal home mortgage and are all repayments being made according to the agreed schedule? What about any other financial agreements including credit cards or any other form of heavy financial loan? The personal finance history of a business owner can greatly affect the proficiency of commercial borrowing and may even be a reflection on money management skills.
• Business Accounts- Whether a buy to let mortgage agreement or leasehold finance; it is a must for all lenders to analyse the business accounts, if and where possible. Analysing every step of the business finance history, including any large costs, invoices and any other monetary demands, lenders will analyse the competence of a business as a borrower and determine whether projections can be met and the business itself can withstand any coming strains. Understanding the business accounts will allow a lender to determine the financial ability of a business and determine whether or not a commercial loan will be a risk.
• Cash Flow- Tying in with business accounts; lenders will also take the time to analyse the cash flow of the business. By understanding the monthly incomings and out goings, extra costs, employee wages and so forth in an effort to determine whether monthly loan repayments can be comfortably met.

Upon analysing the credit history of the business and business owner, lenders will use standard commercial ratios to determine the risk level of a business. The loan to value ratio and the debt service coverage ratio are the two most common commercial methods in which the risk level and in return the capacity of a borrower is determined.

Loan to Value Ratio- This is a key risk factor for borrowers of either a HMO mortgage, a buy to let mortgage or a commercial mortgage and will determine what value of the loan can be comfortably lent without the risk of default.

Debt Service Coverage Ratio- Another key risk factor, the DSCR will determine the amount of cash flow within a business that may comfortably cover any debt and interest payments. This is somewhat of a protective barrier that may minimise the risk of loan default.

Although many banks and high street lenders are continuing to remain restricted on all areas of business finance, a commercial mortgage broker is now a clearer and more viable option for those with an adverse credit history. Whether problems maintaining personal finance repayment on credit cards, a residential mortgage or any other loan or perhaps if there stands previous, failed commercial finance experience; the odds of being accepted as a viable and trusted borrower by the nations long running banks still stands very slim. However, whatever the credit rating and history; there are a range of commercial mortgage brokers who pride themselves on assisting all loan applicants with their needs.

Whether previously bankrupt or currently struggling; a commercial mortgage broker will take the time to analyse your current situation and work according to the above points to determine your capability as a borrower and to source the ideal finance option.

Despite the continuing struggle the economy may be facing; business finance is still an option for all businesses, whatever the credit history.  

Why not contact a specialist commercial finance broker today to discuss the options available to you and your business? 

The post Business Finance And Adverse Credit History appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

For those with a lack of finance knowledge, it is all too easy to assume that a commercial mortgage is the same as a residential agreement. After-all they are both a process in which borrowers require property, they are both long term and both require the need for vast sums of financial aid. However, when searching for the right commercial mortgage deal and indeed the right commercial mortgage broker; it is of great importance that, as a first time buyer; you ensure you are aware of the major differences between both financial agreements in order to determine you get the best deal possible.

Are you a first time business borrower? Are you searching for the right deal and wish to ensure your business is in the right hands?

Naturally, commercial and residential mortgages have many similarities but the differences are also vast:

• Length of Agreement- Albeit both mortgage agreements run for a lengthy period of time; a commercial mortgage if often in place for between fifteen to twenty years whereas a residential mortgage may last for up to thirty years.
• Criteria- During a residential mortgage application; lenders will analyse the personal banking history of the borrower and the overall credit report to determine the risk level. For the commercial mortgage applicant however, the process is far more extensive and lenders will analyse cash flow, accounts, personal and business banking history, business experience and commercial loan history in order to determine the capability of a borrower.
• Loan to Value Ratio- For many residential mortgage borrowers, obtaining 100% of the required sum can be comparatively easy and require only a relatively small deposit. For the commercial loan applicant however, the chance of obtaining 100% of the required sum is slim and as a riskier investment the deposit required is often far greater.
• Penalties- For the residential home owner, the mortgage can be paid off quite easily (either as a result of property sale or otherwise) however, for a commercial mortgage agreement an early repayment can present further charges and greater difficulty for the business owner.
• Lenders- Many high street lenders and banks offer a range of residential and commercial loans; all at a seemingly ideal rate however, were you aware that when seeking a commercial mortgage; an independent company can provide better opportunity and better lending rates? For those seeking commercial finance; a independent lender is agreed to be an ideal lender, who will work for a business to secure the ideal financial solution. Having access to a specialist selection of lenders; a commercial mortgage broker can often provide mortgage agreements with the best interest rates on the market.

When making the jump from a residential mortgage to a commercial mortgage agreement; it is vital to ensure you obtain the basic knowledge and understanding required to determine just what a commercial mortgage requires, how much input and work is required form you the lender, how your risk level will be determined, the length of the agreement and of course payments. It can be all too easy to succumb to the common belief that all mortgage agreements are the same however, although there may be a number of similarities; the differences are vast.

When searching for commercial mortgage finance; ensure you are aware of the entire process and the hurdles your business may face, as any ignorance to the matter could leave you struggling greatly.

Do you know the real differences between a residential and commercial mortgage?

The post Commercial And Residential Mortgages: Understanding The Differences appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.

When procuring any form of business funding, the aim of the borrower is simple; to ensure that financial security and in return commercial longevity remains a sure fire possibility however, just how much are borrowers aware off when securing commercial finance? A lack of knowledge surrounding even the most basic terms can leave you at risk, with many lenders often declining those who fail to provide any indication of commercial loan awareness.

Are you aware of the most basic terminology that may come your way during a commercial mortgage application process? Do you know as much as you need to, in order to ensure your business is in the safest hands? Do you possess the required information to be considered a knowledgeable and aware borrower?

The exact terminology you may come across during the commercial mortgage application will vary from lender to lender however, a basic understanding of the most common expressions may assist you in your decision making process and determine the success of your application.

The range of financial terminology surrounding the commercial mortgage application process can be quite extensive however, below are few of the most common terms that may arise:

• Intermediary- During your search for the right lender, you may come across the term intermediary, quite often. An intermediary refers to a commercial mortgage broker; a lender that acts as a middle man, working for a business to secure the ideal commercial finance solution. In today’s unsettled economy, intermediaries have proven to be the most successful route for many small and medium businesses.
• Guaranty- When seeking to borrower a large sum of money; lenders will often ask that a guaranty be offered to secure the finance. The guaranty in question may be anything deemed suitable and worthy by the lender however, more often than not during a commercial mortgage application; it will be the commercial property itself that will be taken as the guaranty.
• Interest Rate- Interest rates are common amongst all borrowing and refer to a percentage of the borrowed sum that is charged for its use. Some of the nation’s long running banks have notoriously been known to charge cripplingly high interest rates however notably; interest rates are often considerably lower with commercial mortgage brokers.
• Risk Assessment- Conducting a risk assessment of a borrower is not uncommon for any lender. Analysing business projections, cash flow, bank statements, accounts and any other necessary information; lenders will use LTV and DSCR ratios to determine the risk level of the borrower and analyse whether repayments on the required sum can be comfortably met.
• Investor Experience- For many lenders, understanding the borrower in question, career and industry knowledge and past commercial finance experience is crucial in determining borrowing capability.
• Fee- There will be a range of fees attached to a commercial mortgage ranging from arrangement fees, application fees, borrower fees, management fees, legal fees and so forth; it is wise to remain aware of all the fees that will be attached to the commercial mortgage agreement.
• Equity- A stock of investment that has been contributed to the mortgage, that can be used by the loan owner for business expansion or further needs.  A commercial mortgage broker will be able to discuss the potential of equity release attached to your mortgage.
• Minimum Loan- The minimum sum of money that can be borrowed within a commercial mortgage agreement (it is wise for many small businesses, to ensure that they discuss this with the lender, as even the minimum sum may be too extensive)
• Maximum Loan- The maximum sum of money that can be borrowed within a commercial mortgage agreement.
• Deposit- Although many lenders offer 100% of a desired sum; within a commercial mortgage agreement, more often than not, a deposit will be required. A deposit will be a percentage of the loan, the exact figure of which will be determined by the lender.

The above are a few of the common terms that first time commercial finance borrowers may come across. Understanding the basics will ensure you remain aware and cautious of what your business could face when searching for the ideal commercial lending.

Are you a knowledgeable borrower?

The post Commercial Mortgage: Basic Terms appeared first on Commercial Mortgages | Commercial Mortgage Brokers | Charleston Financial.