Lending Terms for Leasehold Businesses
Charleston Financial Services is pleased to arrange commercial business finance subject to our terms and conditions and those of our associate lenders.
Leasehold Finance – Purchase
- Maximum loan 60% of purchase price
- Minimum loan £50,000
- Maximum loan term is half of the unexpired lease or 60 months, whichever is less
Pure Lease Funding
Charleston Financial Services can arrange funding against the sole security of the lease of a retail business.
Loans will be granted on a fixed term capital and interest repayment plan scheduled over a maximum period of 60 months. The debt will be totally discharged at the end of the loan term unless redeemed earlier by the borrower.
Clients can terminate the loan at any time during the term of the facility without incurring any exit penalties, subject to payment of a minimum of the first 12 months’ scheduled instalments of interest due on the loan. The interest rate on this plan is 3.00% per month (APR 42.5%).
The assessment of a leasehold transaction is determined by the simple underwriting principle that the subject business must be able to comfortably service the monthly loan repayments from day one. Pinders investigate all businesses on our lenders’ behalf and our lenders are guided by Pinders’ findings on income and valuation in every transaction.
100% Commercial Business Finance
Our lenders are able to consider granting loans of up to 100% of the purchase price of either a leasehold or freehold business, provided they are offered suitable additional freehold collateral security in a transaction. The Pinder report must indicate that the business can service the loan satisfactorily.
All cases are assessed on their own individual merits and as such do not have to adhere to rigid underwriting criteria. Charleston Financial will endeavour to convert initially unacceptable cases into positive transactions by offering guidance and inventive assistance to our customers and introducers. Pinders is employed to inspect all retail businesses and Countrywide Surveyors carry out valuations on residential properties that have been offered as collateral security in transactions.
Visit our FAQ section for more details of our commercial processes. To speak directly to one of our qualified advisors, call today on 0800 612 3167 or Apply Now