AMOUNT
Minimum £50,000
 
MAXIMUM
Normally 80% of value: greater where additional security is available.

INTEREST RATE
Variable from 1.5% over bank base rate

TERM
Up to 25 years

SECURITY
First charge over freehold or long leasehold owner occupied commercial property: offices, shops, warehouses, light industrial.
Modern industrial premises preferred but consideration given to older buildings where condition is good

FEES
Lender typically 1% of advance
Borrower to pay lenders legal and valuation costs
Broker fee normally 1% of the advance

NOTES
In all cases it will be necessary to show the applicants ability to operate the business successfully. Historic trading accounts and projections for the business will be required
These details apply only to owner occupied freehold and long leasehold only.
Where tenants are purchasing at discounted prices special schemes are available

© Lextel Services To Industry Llimited 2004