Base Extends Helping Hand To Brokers Left High & Dry By Salt's Decision To Stop Lending

Base Extends Helping Hand To Brokers Left High & Dry By Salt's Decision To Stop Lending



798_2022-05-03-11-01-31am.gif
.

Base Commercial Mortgages Limited, the specialist commercial mortgage lender, is offering to help brokers who may have been left high and dry following Salt Commercial’s recent decision to cease new lending and review pipeline cases which have yet to complete.

Paul Marland, Sales & Marketing Director at Base, said: “Preparing and submitting a commercial mortgage application involves considerably more work than a residential mortgage and to have to re-broke cases is a major set-back for intermediaries.

“Base is happy to extend a helping hand to our key business partners, particularly those who have clients where speed of completion is a critical factor. We cannot guarantee to accept every case, but we will certainly give them our immediate attention and provide a quick decision.”

Base Commercial’s key lending criteria include:

 Long term commercial loans from £25,001 to £3m over periods from 5 to 30 years
 Title insurance available on refinances, with completions in 7 to 10 days from application
 Most standard property/ business types considered
 LTV’s up to 75% (65% rural and agricultural) using a 180 day marketing period valuation assumption
 All loans assessed on an individual basis and priced for risk
 Lending against LIBOR or Bank Base Rate

Base will provide brokers with a credit searched decision in principle on most cases within 4 hours of receiving a completed Base application form.

Although Base is allowing NACFB members to register directly, brokers who are not NACFB members and not currently registered with Base should contact the sales support team on 01733 404515 for a list of key packagers, through whom they will need to submit cases.
 

Leave a comment