Frequently Asked Questions for Commercial Finance
What type of commercial finance can UK Property Finance arrange?
All types and sectors including:
- Freehold and leasehold purchase
- Investment finance
- Development finance
- Bridging finance
- Business finance
- Trade Finance
- Venture Finance
- Turnaround Finance
- Asset Finance
Are UK Property Finance a broker or a packager?
We are commercial brokers and packagers. Our staff have many years of experience raising commercial finance. Access Commercial Finance has an extensive lender panel. We are a business dedicated to helping applicants raise commercial finance.
Are you FCA Regulated?
Yes, UK Property Finance is authorised and regulated by the Financial Conduct Authority, Firm Reference Number 667602.
How many lenders does access commercial finance have on their panel?
We have a core panel of over 80 lenders from Prime Lending to Sub Prime Lending we can consider all circumstances, and because we lend our own funds † as well we can find solutions for circumstances that other brokers may not be able to accommodate.
† Only for non-regulated business loans.
What are your interest rates?
Our rates depend on your circumstances at the time. We will provide you with the best solution to suit your needs.
What if I can only provide partial accounts?
The more information you can provide us about your business the better. It may mean we’ll be able to offer you a lower rate of interest, comparable with that of the high street lenders.
How much can I borrow?
We can lend you any sum between £26k and £10m, depending on the property and your circumstances.
What does Asset Refinancing mean?
When a business needs to access the funds tied in with the equity in an asset, or multiple assets, such as an expensive machine, or a fleet of vehicles, then this is known as asset refinancing. Although most funds raised in this way are typically secured against assets that a company owns outright, asset refinance can also be arranged on assets that are still on finance – as long as the existing debt is repaid with the new credit arrangement. If you are thinking of securing credit against the equity in your business assets then it is important to ensure that the items you are using as collateral for the loan are easily identifiable by means of a unique registration mark or serial code.
What is a Buy-to-Let mortgage?
A buy-to-let mortgage is specialist type of property finance designed for landlords and property investors. Unlike residential mortgages, which are aimed at homeowners looking to purchase their own properties, Buy-to-let mortgages are secured against rental properties and they are useful for the buying and refinancing of houses, flats and multiple tenant properties. When you apply for a buy-to-let mortgage, your provider will base the decision to lend on the rental income that the property is expected to generate.
Is a Let to buy mortgage the same as Buy-to-let mortgage?
A let to buy mortgage is somewhat different to a buy-to-let facility in that let to buy mortgages are specifically aimed at homeowners and mortgage holders who are looking to move out of a property with the intention of renting it out as a secondary source of income. If you are looking to raise the required funds to purchase a new home whilst keeping hold of your existing property as an investment opportunity then a let to buy mortgage is the perfect solution. With the housing market experiencing something of a slump at the moment, many homeowners are turning to let to buy as a means of holding on to their existing homes until property prices pick up again, with a view to maximizing return on their initial investments.
LIBOR interest rates – in plain language
The London Interbank Offered Rate, or LIBOR, is a useful lending tool used by mainstream lenders and banks in order to determine the rate of interest across popular borrowing products such as mortgages and other secured finance facilities. LIBOR rates themselves are used when one bank lends surplus money to another and they are updated daily at approximately 11.45am (UTC) by the British Bankers Association, in a list of 10 different currencies and across 15 different borrowing periods ranging from 24 hours up to a year.
The LIBOR rate is the average interest rate charged by a large cross-section of banks that lend money to each other and it is a useful tool for banks and building societies looking to make a profit from their surplus cash, or save money whilst acquiring additional funds in order to boost their reserves.
The vast majority of lenders use the LIBOR rate as a means of fixing the cost of their own borrowing products. These rates are typically expressed as a fixed percentage that is set slightly higher than the Bank of England Base Rate or as the 3 month Libor rate itself. Whether you are saving money or applying for finance, the LIBOR interest rate has a dramatic effect on the cost of both – which is why so many professionals and consumers watch the rate so closely.
The 3 month LIBOR rate has recently been quite high, mainly owing to the unpredictable nature of the market place, which has meant that many banks have become far more reluctant to lend to each other. Whenever the demand for money is high, the knock on effect is an increase in the LIBOR rate. However, the good news is that the 3-month LIBOR rate has started to fall significantly – which is great news for anyone in search of a mortgage or any other type of secured borrowing product.