We can take a legal charge (first of subsequent) over a businesses commercial premises or perhaps an asset owned by the business owner such as a BTL investment or holiday home.
Our secured loans are priced from just 8% per annum and are a great way of using available equity to invest into a business for further growth.
Release equity in multiple property types
To calculate the available equity offered as security, the following adjustments are made:
- For residential property, the value is calculated as 90% of the market value.
- For commercial property, the value is calculated as 75% of the market value.
- Where the property is co-owned (e.g. spouse) and the co-owner is not a director/ shareholder of the borrower, the available equity is pro-rated. All properties must meet the minimum criteria of:
– Minimum value – £75,000
– The property must be freehold, or, a long-term lease (75 years or more)
– Situated in England or Wales
- 4% arrangement fee is payable
- Applicant must cover Newable legal expenses of up to £1,500
- Introducer commissions paid in line with your existing arrangements with Newable