View more on these topics

SS term extension on commerical mortgages

State Securities is extending the maximum terms of its commercial mortgage range as part of it continued strategy for growth and development.

The extension means commercial mortgages will be available over a term of up to 25 years, giving borrowers the option to reduce their monthly repayments by spreading them over a longer loan term.

The companys revised commercial mortgage product mix now includes commercial mortgage term up to 25 years with up to two years available on an interest-only basis, and five years interest-only available with a maximum term of 15 years.

It also include balloon payments available on 15 year term, and self-cert available up to 60% LTV commercial mortgages.

Up to 50% LTV is available when lending against properties outside of State Securities normal range, and administration and legal fees added to mortgage.

Martin Thurlby, commercial mortgage manager at State Securities, says: “Providing a longer term commercial mortgage benefits both our customers and the company. Not only does it enable customers to reduce their monthly repayments, but crucially it provides customers with more choice over the period of their loan which can now be structured more closely in line with their specific needs.

“Ultimately, it allows us to enhance our customer offering and therefore be more effective when competing in the commercial mortgage market.”

“With the recent introduction of factoring, along with the small firms loan guarantee, State Securities can present a tailored one stop shop solution for SMEs, supporting their three essential funding needs property, assets and book debt finance.”


Columnists give up their own time to contribute something to the industry

From Neal Smith Having been a regular columnist for Mortgage Strategy and thus qualifying as ‘one of the usual suspects’ as Jay Williams puts it (Mortgage Strategy Letters, September 26), I would like to reply to his observations. Penning a regular article is no mean feat and MS’ regular columnists like Richard Griffiths, Dean Mirfin, […]

Base rate remains at 4.5%

The Bank of England left base rate unchanged last week at 4.5%. The previous change in base rate was a reduction of 0.25 percentage points to 4.5% on August 4. Michael Coogan, director-general of the Council of Mortgage Lenders, says: “The Bank’s decision to leave the rate at 4.5% was no surprise. Housing transactions, mortgage […]

Optoma extends service range through Trigold

Optoma Broker Solutions has extended its service offering through the Trigold system, by offering key features documentation on all of its exclusive products, available for download. Optoma currently has more than 650 exclusive products listed on Trigold. Directly Authorised Intermediaries who submit business to Optoma can receive a free customized Prospector AAA sourcing system paid […]

Asking prices on the up

A degree of optimism has returned to the housing market as the house price index indicates an increase in asking prices.Over 100,000 sellers entering the market have pushed up the average asking price by 0.5%, which works out as 941. Asking prices had fallen in the previous three months by 3,235, which tempted buyers […]

Burnett: what needs to happen for value to start performing again?

Value stocks have significantly underperformed growth stocks in Europe in the past decade. However, Rob Burnett, manager of the Neptune European Opportunities Fund, believes we are now approaching an inflection point. Watch the video below to find out more. In the video, Rob discusses: How low inflation and loose monetary policy since the global financial […]


News and expert analysis straight to your inbox

Sign up