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Wesleyan Bank Offers Makeweight Security to Enhance its Commercial Mortgage Solution

Wesleyan Bank Offers Makeweight Security to Enhance its Commercial Mortgage Solution

Wesleyan Bank has introduced new security options to enhance its commercial mortgage solution for businesses who wish to acquire or re-finance commercial premises.

The specialist finance provider offers loans up to 85% LTV (loan-to-value) on commercial property, for owner-occupied trading premises and for those being purchased as an investment.

Under the terms of Wesleyan Bank's new lending criteria, business owners can use alternative property they might own, to make up to 95% of the minimum 5% cash deposit. This feature is available on commercial property loans of between £100,000 and £5 million, over a term of 5 to 25 years.

Commercial mortgages, offer advantages over financing a property purchase from capital. Agreed monthly payments simplify cash flow forecasting and the interest portion of the repayments may be tax-deductible.

Businesses can also free up funds to invest towards driving growth and if the property increases in value, business capital will also go up.

Simon Welling, Director of Sales and Marketing at Wesleyan Bank, comments, "For every business working from rented accommodation, there is a point where it may be advantageous to purchase their own premises. This decision may be driven by a requirement for more office or storage space, or influenced as a result of landlords raising rental agreements."

Simon continues, "We have seen a significant uplift in the number of businesses seeking commercial mortgage loans. By introducing alternative security options, we aim to offer them more flexibility to fulfil their requirements, at a time when they may struggle to access more traditionally structured funding."

The loans are open to a wide range of UK based professions including healthcare, legal, accountancy and broader SME's, with at least two years trading history. Applications can be either be made direct or through a Wesleyan Bank appointed broker.

Wesleyan Bank provides flexible short, medium and long-term funding solutions to enable businesses to spread the cost of their investments over time.

In addition to commercial mortgages, the company's finance solutions include loans to facilitate the purchase of new assets (IT software and hardware, specialist equipment etc), building refurbishments and relocations, and short-term cash-flow centric products.

Wesleyan Bank acts as a broker and a lender.

Your property may be repossessed if you do not keep up repayments on your loan.
The Financial Conduct Authority does not regulate commercial mortgages.

'WESLEYAN’ is a trading name of the Wesleyan Group of companies.

Wesleyan Assurance Society and Wesleyan Bank Ltd are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Wesleyan Financial Services Ltd, Wesleyan Unit Trust Managers Ltd, Practice Plan Ltd and DPAS Ltd are authorised and regulated by the Financial Conduct Authority.  Advice about investments, insurance and mortgages is provided by Wesleyan Financial Services Ltd.

Click for more information about the Wesleyan group of companies.

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