Despite government efforts, banks aren`t lending as freely as they were before the recession, but if you own a property, you could use it to obtain secured business loans.
Recent Bank of England figures covering the final three months of 2012 show that lending to small companies only increased slightly, so you may not be able to secure the funds you need through regular means.
These secured business loans could be used for any purposes, subject to lender approval, such as employing additional staff or purchasing new equipment so that you can increase productivity with the aim of making a real difference to your bottom line.
On the other hand, you may have maxed out your credit cards due to lack of alternative borrowing methods, so you could use the secured loan to pay off cards to reduce your monthly outgoings and get back on top of your finances.
Although more interest may be payable if you keep the loan for the full term it may be best to get in control of your cashflow if you are struggling on a month to month basis.
Whether you`re a sole trader or a small business owner, coming to First Choice Finance for your homeowner loan will give you plenty of options and is a simple process.
We`ll do the legwork to identify the most suitable secured business loan for your circumstances and offer it to you on an absolutely no-obligation basis.
Find out more by calling us for free from a landline on 0800 298 3000, or call our mobile friendly number 0333 003 1505 alternatively fill in our short on line enquiry form and we will call you.
First Choice Finance specialise in residential mortgages, but we do have partnerships with specialist commercial mortgage brokers and lenders as well as offering a wide selection of mortgages and remortgage for those of us who are self employed.
Adverse credit considered
Self certification of income option available
High LTV mortgage plans available
No obligation free quotes
What is a Commercial Mortgage?
A commercial mortgage is long term finance secured by a first legal charge over commercial or business property. Typically this can include a wide variety of property including:
industrial units, factories, offices, warehouses, lock-up and workshop units
hotels, guesthouses, public houses, bars, restaurants
farms, equestrian centres, riding schools
What is a Semi-Commercial Mortgage?
A semi-commercial mortgage is again long term finance secured by a first legal charge over property that has a mix of business and residential use. Typically this will include properties such as:
retail units with living accommodation above
bed & breakfast
catteries and kennels located within the grounds of a house
Homeowner Secured Loans
Rates From 7.1% APRC
Representative Example £30,000 over 72 months @ £679.90 repayments. Total payable of £49,949. 20.1% APRC including £2,975 intermediary fee and a £995 lender fee. Loans secured on property.
First Choice are tied to certain loan providers.
Mortgages & Remortgages
Borrow £80,000 over 25 years
At 4.6% Variable, £461.95 for
300 months. Total Payable
£138,585. Total Cost Of
Credit £58,585 (incl £1360 fee).
Unsecured Personal Loans REPRESENTATIVE 49.9% APR (VARIABLE)
First Choice are tied to certain unsecured lenders.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST
YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Security is required on
Established In 1988. Company Registration Number 2316399. Authorised & Regulated By The Financial Conduct Authority (FCA). Firm Reference Number 302981. Mortgages & Homeowner Secured Loans Are Secured On Your Home
First Choice Finance is a trading style of First Choice Funding Limited of The Old Courtyard, 103 Buxton Road, High Lane, Stockport, Cheshire. SK6 8DX. Copyright protected 2014.