Cambridge & Counties Bank is a bank and niche finance company, specialising in property and asset finance for businesses. Cambridge & Counties Bank is a partnership between Trinity Hall and Cambridge & Cambridgeshire Local Government Pension Fund, and provides business savings accounts as well as finance products. Cambridge & Counties Bank is based in Leicester and has no physical branches. Most customers are brought to Cambridge & Counties Bank through brokers and intermediaries.
Cambridge & Counties Bank Business Banking
5 Year Fixed Rate Business, Trust and Charity Bond
A fixed rate account offering 1.30% Gross/AER Fixed if your business puts its money away for 5 years. You can invest between £10,000 & £500,000 with no withdrawals allowed until the account matures. This account is open to lots of business and organisation types, including Sole Traders, Partnerships, Limited Companies, Limited Liability Partnerships, Charities, Societies, and Clubs. You can manage your account online and by post.
Cambridge & Counties Bank Business Finance
Commercial and residential property finance
Property finance products are designed for experienced property investors and developers. Funding is available for both commercial properties and residential property, including buy-to-let, expat buy-to-let, holiday lets, and houses of multiple occupancy (HMO).
Up to £15 million is available with no restriction on property numbers per customer at a maximum 70% LTV of open market value. Agreement periods range from 12 months to 25 years and repayments can be paid monthly or quarterly. Interest only is available for up to 10 years. Finance is secured by first legal charge on a property located in England, Scotland or Wales. A personal guarantee may be required.
Bridging loans
Bridging loans are available up to £2.5 million for both commercial and and residential property developments. The maximum repayment term is 18 months, and maximum LTV is 60% of vacant possession. Interest roll up options are available within the maximum LTV criteria. Finance is secured by first legal charge on a property located in England, Scotland or Wales. A personal guarantee may be required.
Refurbishment loans
For commercial and residential property developments. Loans up to £2 million are available over a period of up to 9 months – up to 65% LTV based on vacant possession and a maximum 65% LTV of the refurbishment costs, which can’t exceed 70% of the gross development value. This finance isn’t available for projects that involve new build works to the property, including extensions and additional floors.
Asset finance
Cambridge & Counties Bank offers hire purchase, leasing agreements, and specialist car finance.
Hire purchase
- Borrow up to 100% of the asset’s cost (up to £1.5 million per single asset)
- Repay for up to 7 years
- Balloon payments are considered
- VAT deferral available
- Assets covered include machinery and industrial/manufacturing equipment
Finance lease
- Lending up to £1.5 million for a single asset
- 1 year to 5 year terms
- Assets covered include machinery and industrial/manufacturing equipment
- Rental costs can be classed as a business expense and offset against pre-tax profits
Specialist car finance
- Finance for classic cars, vintage cars, racing cars, and modern classics.
Cambridge & Counties Bank Reviews and Ratings
Online reviews are written by both savings and finance customers.
There are live reviews on Google, which are mainly very positive. Customers say the bank provides a professional and personal service that’s efficient and responsive.
Cambridge & Counties were Highly Commended for Best Business Fixed Rate Bond Provider at the Savings Champion Awards 2020, and Highly Commended for Best Business Fixed Account Provider at the Business Moneyfacts Awards 2019. This is also the only bank in the UK to receive a Green Accreditation for reducing its impact on the environment.
Cambridge and Counties Bank’s balance sheet reached £1 billion in February 2019. This was reportedly driven by lending to real estate investors, property developers and SMEs in the East Midlands area.
Trustpilot – no reviews
Google Reviews – 4.6/5 (based on 10 reviews)
Reviews.co.uk – no reviews
Smart Money People – no reviews
Pros
- Range of finance products for property and assets
- Mainly positive reviews across the different products.
- Rare Green Accreditation for low carbon footprint.
Cons
- Could be extra fees if your business applies through a broker.