Focus On
Non Prime
| SECTOR Non Prime overview | NON PRIME Sub Prime / additional security; OR excellent covenants | INCLUDES |
| Agricultural, ie.Horticulture | 50-60% | Farms, Nurseries etc. |
| Healthcare | 60-70% | Nursing Homes, Rest Homes |
| Factories/Warehouses | 75% | Industrial Units |
| Hotels/Pubs, Restaurants | 75% | Guest Houses |
| Post Offices, Shops | 70-75% | Offices |
OVERVIEW
- May have no adverse – but unable to prove income e.g. start up
- May have adverse from missed credit card payments through to CCJ’s etc.
- Pricing higher than prime although ltv's also higher generally.
- Freehold property – Bricks and Mortar valuation only.
- No goodwill finance available.
- Can repay over 30 years normally and exceptionally 40 years.Interest only may be available up to 5 years but generally only up to 80% LTV. Can potentially obtain up to 100% with additional security.
- Please use as a guide only – each commercial application is unique – as is the property etc. so, always call to discuss.
- Trading accounts not required but if available can reduce interest rate – either the business being purchased or being operated now – three years full accounts are best.
- Affordability can be assessed through accounts or self certification/rental.
Tips
- Ask for the property particulars if buying.
- Ask for the old valuation if refinancing.
- Ask for 12 months mortgage history if refinancing.
- Always be clear on the repayment source.
- Business plan’s generally not required.
