There has been a lot of activity as the New Year begins.B Four new enquiries for boarding kennels / catteries in the last few days.B This is a sector of the mortgage market that we have a good deal of experience with.B This is not a simple market as there are considerations regarding noise, location, deposits etc., but the rewards for a well-run kennel or cattery can be very good for the client.
We have just completed on one deal with a well-known lender with the client borrowing 65% of the valuation.B He has no experience with running a kennel but he is experienced in other sectors.B Lending took just under three months from finding a suitable purchase property to completion. This is often treated as a commercial loan but as the applicants are residing at the property, we obtained semi-commercial rates for them.
Another sector that we have lots of experience and a proven track record in is lending for professionals. B This can be GPs, Accountants,Dentists, Solicitors and especially Veterinary practices.B Lenders can provide up to 90% of the purchase price or value of the practice for the right case and rates are very favourable.B Lenders regard these professions as a good risk and go out of their way to assist the client.B Dentists, GPs, veterinary practices are excellent lending risks and we have great industry contacts to ensure we can provide the best products to suit our client’s needs.
If you would like more information on any of the above or to discuss a residential, commercial or buy to let mortgage enquiry, please contact the team on 01277 630183.
Central Mortgages (Essex) Ltd
T: 01277 630183 F: 01277 632878 E: office@centralmortgages.net
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