AccPay UK Business Funding
Asset Finance
Finance can be obtained on a variety of assets including vehicles, office equipment, catering equipment, computers, machinery, plant, HGV and much more.
Our consultants will listen to your requirements, take into account the type of asset being funded, you’re trading situation and find the best lender to suit your requirements. Underlying rates will depend upon status and asset being financed. Non status options are available.
Business Finance/Factoring/Sales Invoice Discounting
We are able to assist with a variety of forms of business finance over and above the traditional commercial mortgage.
Funding can be arranged for the purchase of businesses, either on a stand alone basis or in association with asset finance and factoring.
With our expert knowledge, in many circumstances, we are able to assist you by arranging unsecured funding, via the DTI Small Firms Loan Guarantee Scheme. This funding can be obtained subject to criteria for the purchase of businesses, working capital requirement, purchase of assets and improvement to a business.
Commercial Mortgages
Commercial mortgages can be arranged on a variety of different premises from doctors’ surgeries to industrial units, offices, retail outlets, agricultural units and care homes.
Funding of up to 80% can be arranged on a stand alone basis (higher if additional security provided) with interest rates starting from around 1% above base lending rate depending on the strength of the business and loan to value. The term of the mortgage is generally between 10-25 years. Interest only options are available in certain circumstances.
Non status options are also available; these cover clients with previous County Court Judgments, defaults, mortgage arrears, or just situations where there are no historic trading accounts available to prove profitability to the satisfaction of the main stream lenders.
Investment Properties
Funding can be arranged on residential properties, (commonly known as buy-to-let), or on a variety of commercial or semi-commercial premises.
Buy-to-let funding is generally available up to 85% of the value of the property. Loans are available on a repayment or an interest only basis. A number of highly competitive schemes are available including fixed rates, discounted rates and lifetime trackers.
Commercial Investment properties, funding is available typically up to 80% loan to value, interest rates from 1% over base subject to status, term up to 25 years. As a guide, lenders will in most circumstances be looking for interest cover of approximately 125%.
Development Finance
Development finance is available for both residential and commercial developments. Funding can be arranged from a small refurbishment project to large sites with a number of units.
Funding levels are typically up to 75% of purchase price and 75% of build costs. Higher levels can be arranged if good levels of profitability are within the project. In these circumstances funding of 75% of purchase and 100% of development costs can be arranged. Funding is generally on an interest only basis, with interest either covered monthly or rolled up on to the loan. Funds are drawn down in stages as the development progresses.Funding can also be arranged to assist with purchases in development gain situations. In these circumstances once the planning permission is in place and higher land values are confirmed, it is highly likely that funding relating to 100% of the build costs can be put in place.