Our products | Commercial Acceptances Ltd

Bridging Finance

From £50,000 to £10 million
Interest from 7.25% per annum plus Bank of England Base Rate*
No arrangement or exit fee
Up to 70% of the 180-day Market Value
We specialise in Auction Finance
6-12 months

Longer-term Finance

From £50,000 to £10 million
Interest from 5.5% per annum plus Bank of England Base Rate**
Commitment fee from 1% of the loan amount
Exit fee from 1% of the loan amount
Up to 70% of the 180-day Market Value
12-18 months

Development – refurbishment, conversion and new build

From £50,000 to £10 million
Interest from 5.5% per annum plus Bank of England Base Rate**
Commitment fee from 1% of the loan amount
Exit fee from 1% of loan amount or GDV dependent on term, size and complexity of the development
Up to 60% loan to GDV
Loans to experienced developers

Heavy Refurbishment –refurbishment and conversion

Up to 65% loan to GDV
Maximum cost of works £500,000 (no new build)
Interest from 5.5% per annum plus Bank of England Base Rate**
Commitment fee from 1% of the loan amount
Exit fee from 1% of loan amount or GDV

3-5 Year Medium Term Investment loan

From £50,000 to £5 million
Interest from 3.25% per annum plus Bank of England Base Rate**
Commitment fee from 1% of the loan amount
Exit fee from 1% of loan amount
Up to 70% of the 180-day Market Value
36 – 60 months
ERC’s will apply

Bridge-to-let

From £50,000 to £5 million
Bridging loan followed by conversion to 3-5 year Investment Term Loan (ITL) once the property is generating sufficient income and any other qualifying criteria have been met
Prior to conversion, interest from 7.25% per annum plus Bank of England Base Rate**
Once converted, interest from 3.25% per annum plus Bank of England Base Rate*
6-12 month bridge
Maximum 60 months
ERC’s will apply

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.

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Tariff of charges

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.

Valuation fees

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.

Minimum fee

£275 + VAT

Collected by

Commercial Acceptances for payment to the valuer

Project Monitoring Surveyor fees

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.

Minimum fee

£750 + VAT

Collected by

Commercial Acceptances for payment to the PMS. Quotes obtained on request

Legal fees

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.

Minimum fee

£950 + VAT

Paid to

our solicitor

Finance set up fee

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.

Fee

£250/£500

Paid to

Commercial Acceptances

Release of property from our charge

On repayment of your loan, our solicitor will charge an administration fee for the release of each property.

Fee

c.£200 + VAT

Paid to

our solicitor

Returned Direct Debit fee

We will charge £25 on each occasion an interest payment, when correctly presented, is not met or is returned unpaid.

Fee

£25

Paid to

Commercial Acceptances

Payment fees

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.

Fee

£5

Paid to

Commercial Acceptances