How we can help you obtain the mortgage that you need. Over the twenty years we have been involved in raising commercial finance for the licensed trade, we have built strong relationships with key decision makers in many of the Banks, and Institutional lenders, all of whom have helped our clients develop their businesses. Consequently they have a close understanding of how we work and have faith in our judgement to deliver them professionally collated and presented applications. These relationships have many benefits, particularly with the speed with which an application is handled and the terms which we are able to negotiate on your behalf.
Our 10 Steps to Arranging Your Commercial Finance
- Firstly and most importantly, it is never too early to talk about
- From an initial telephone conversation we’ll be able to cover all of the basic
information you require to begin your business search. By the end of the
conversation, you will know your purchasing power, the information we will
need you to provide in the future, the likely terms and conditions, and
all the associated costs of purchase. Not bad from just one phone call.
- During your journey it is likely that you will have a number of properties of
interest, we are happy to discuss the financial merits of each, the final
decision of course is your own.
- Once you have selected your chosen business in the licensed trade or other sector, and have had an offer accepted, the first thing we will do is to contact the agent to firstly give them comfort in respect to your ability to complete the deal, and secondly to collate all the financial information that we require to move on to the next stage.
- A business plan is now required. This document is the backbone of our eventual
presentation. Some in our industry at this stage leap straight to valuation,
we however prefer to present to our chosen lender first, and report their
outline terms to you. This we can normally achieve within 3 working days
from receipt of your plan.
- Having received your acceptance to proceed under those terms, we prepare and submit the valuation instruction, and appoint the valuers to attend the business on your behalf. This approach ensures outside confirmation of our assessment, and also means we have a full business proposal to submit to the valuers, who as part and parcel of their report will be commenting on your proposed plans for the development of the business, and will be fully aware of your financial expectations and will comment accordingly
- Once we are in receipt of the valuation, we will arrange for you to meet our chosen commercial
lending source. Depending upon the lender, this meeting will either take
place at their offices or another mutually convenient location.
The object of the meeting is for you to be comfortable with them as your long term mortgage provider, and for them to meet the people behind the words. Typically they will discuss your plans for the business, your background, and explain fully the terms they propose to offer. The meeting is arranged on the basis of a willing borrower and a willing lender and should not be viewed as anything to be concerned about.
- Following the meeting the commercial lender will write up the credit application and make a formal application to their credit team. Once approved the formal documentation will be sent to us for our approval.
- Once we are in receipt of the terms, we will write to you detailing the offer, and it is at this point that we submit our invoice for the previously agreed fee. Once we are in receipt of payment we will release the formal documentation to you.
- Now that you have the offer, we will work with you and your solicitor to ensure that any conditions within the offer are satisfied well ahead of the completion date.
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