Non-Status Commercial Mortgages What You Need to Know

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Most lending organisations in the United Kingdom will only lend to businesses they consider to be “low risk.” These “low risk” businesses are usually long standing organisations who have built a reputation of credibility and repayment ability over a period of time.

In today’s business landscape, not all companies have this type of reputation. Non-Status Mortgages available through specialist lenders are a viable option for businesses to consider when big banks say “no” to their mortgage applications.

What Businesses Qualify for Non-Status Mortgages?

Non-status commercial mortgages are ideal for a number of different business types. These businesses include limited companies or sole traders who are looking for financial assistance with business turnaround, debt consolidation, start-ups and/or refinance.

The specialist mortgage lenders who offer these financial services are truly forward thinkers and are willing to grant mortgages to businesses that carry mortgage arrears, county court judgments, loss making history, and other poor credit blemishes.

What are the Benefits?

There are many benefits associated with obtaining a non-status mortgage for businesses who cannot obtain traditional financing from high street banks.

Some of these benefits include loan periods of up to 30 years, interest only options, any purpose borrowing, and up to 70 percent loan to value based on a 90 day valuation.

Additional benefits include the simple application form as well as no need to present audited accounts, business plans, projections or the need to visit or be interviewed by the lender.

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What is Considered Acceptable Security for Non-Status Mortgages?

Another great benefit of applying for non-status mortgages is that almost all freehold commercial properties can be considered for acceptable security. These include properties such as factories, semi-commercial spaces, office buildings, pubs or restaurants, hotels, guest properties, and investment properties among others.

If there is a question whether your property can qualify as acceptable security, feel free to call us or fill out one of our forms and our team of mortgage specialists can help answer your concerns.

What is the Underwriting Process?

Our knowledgeable consultants can help individuals seeking non-status mortgages prepare their applications. Our professionals have a considerable amount of experience in the banking sector – having us help to file your application can greatly increase the chances of being granted financing and securing the right deal for the individual and their organisation.

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It is important to keep in mind, however, that there are no standard rules and each lender will evaluate an application differently.

Non-status mortgages are a great financial alternative for businesses who have felt the sting of a rejection from traditional banking institutions. The specialist lenders who offer these types of financial investments are willing to work with businesses that do not have an established repayment history and even some hiccups in their credit.

We can help any business file an application for a non-status mortgage and help to secure the best possible financial package for virtually unique situation.

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​Non-Status Commercial Mortgages What You Need to Know