New World Finance has strived to deliver straight forward and simple business mortgages, providing term finance on properties including; • Farms • Pubs, restaurants ,takeaways,Fish& Chips • Shops, shops with living accommodation • Hotels, guest houses, holiday lets • Industrial units, factories, offices, warehouses
For borrowers looking to raise between £25k and £2m, our process is geared towards being simple, quick and flexible. Our mortgage products are available with terms up to 30 years, generally up to 79% LTV (for transactions up to £500k) and have an option for self certification of income. It is important to distinguish that we provide a mortgage product and therefore the advance is made against the market value of the property, excluding goodwill and any fixtures or fittings. We are able to lend up to 90% of purchase price for sitting tenants purchasing at a discount (subject to this not exceeding our LTV restrictions on valuation) and 100% advances can be made with additional security (either residential or commercial property) from the borrower. The product is available at a margin of between 2.5% and 5% over Libor depending upon the LTV and status of the applicant. Early repayment charges apply. The product can be used for any purpose by the applicant including; • New business start-ups • Business turnaround solutions • Short Term Finance and debt consolidation • Working Capital raising • Property improvement • Business expansion Search |
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