Aldermore revamps commercial mortgage offering
Aldermore has made changes to its commercial mortgage offering.
The lender now allows commercial owner-occupiers to borrow up to £1m on an interest-only basis for up to 10 years.
Part and part commercial investment and semi commercial mortgages are also available up to a maximum of 75% loan-to-value (LTV).
Caroline Luxmore, head of commercial mortgages at Aldermore, said “We are committed to responding to and anticipating market needs, challenging the status quo and bringing customers and brokers solutions that let them get deals done and focus on actually running their businesses.
“By building strong relationships with our customers and brokers, we are able to really understand their needs – and develop flexible products and services which help them to grow.”
Aldermore has also extended its Search Insurance, which removes the need for local authority and most other searches.
It has doubled the cover to up to £2m per property and removed the previous cap on portfolios subject to a maximum effective debt per asset of £2m.
In addition, Aldermore now offer loans for commercial mortgage customers to cover the VAT payable on commercial property.