Commercial Acceptances provide short-term bridging finance, development loans and medium term investment loans to professional property traders, investors and developers to include private individuals, partnerships and limited companies. Loans can be secured against residential property, commercial property or land. Read more on our products below:
Commercial Acceptances does not provide regulated mortgage contracts, where it is either your or an immediate family member’s intention to occupy the property, either now or at any time in the future.
*Calculated daily and chargeable on the amount borrowed every calendar month or part thereof. Rates are subject to change and will increase or decrease in line with movements in the Bank of England Base Rate. Rates will be adjusted on each calendar month anniversary of the facility.
**Calculated daily and chargeable after close of business on the last calendar day each month. Rates are subject to change and will increase or decrease in line with movements in the Bank of England Base Rate. Rates will be adjusted on the first business day of each month.
The fees you are likely to encounter are detailed below. Where the services are subject to VAT this is included as noted. These charges do not include the interest rates or fees we apply.
We require a valuation to be carried out on the property/ies to be charged. We use a panel of valuers. The standard fee for a residential valuation is £1 for every £1,000 of the property value plus VAT. This is subject to a minimum fee of £275 plus VAT per property. For example, a property worth £500,000 would be subject to a valuation fee of £500 plus VAT. These rates are negotiable for higher value properties.
Valuations for commercial properties and property developments are charged at local rates. Quotes will be obtained prior to instructing the valuation.
£275 + VAT
Commercial Acceptances for payment to the valuer
For development projects we will require our Project Monitoring Surveyor (PMS) to certify the cost of works before funds from the build float are released. We use a panel of Project Monitoring Surveyors.
For most developments a feasibility report will be required prior to the issue of the formal letter of offer.
£750 + VAT
Commercial Acceptances for payment to the PMS. Quotes obtained on request
You will be responsible for our legal costs which as a guideline will be charged at 0.35% of the loan amount plus VAT and disbursements. This is subject to a minimum of £950 plus VAT. Legal fees will vary subject to complexity and the number of properties to be charged.
£950 + VAT
This is the administration charge we apply for setting up your CA Trade, CA Term or CA Flex lending facility. The fee charged for CA Trade and CA Term is £250. The fee charged for CA Flex is £500. This is debited to your loan facility and is payable on completion. This fee does not apply to CA bridging facilities.
On repayment of your loan, our solicitor will charge an administration fee for the release of each property.
c.£200 + VAT
We will charge £25 on each occasion an interest payment, when correctly presented, is not met or is returned unpaid.
Fee for every payment or further advance out of the account, whether by CHAPS or Faster Payment. Payments up to £1,000,000 are sent by Faster Payment. Payments over £1,000,000 are sent by CHAPS.