ABC Finance Commercial Mortgage User Reviews
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ABC Finance is a financial broker that provides a variety of products that focus mainly on commercial property loans. Their range of products includes commercial mortgages, HMO mortgages, bridging loans and development finance. They also offer other financial products including business loans, asset finance and invoice finance.
ABC Finance is based in Staffordshire but operates across the UK working with a panel of lenders from high street lenders to bespoke private lenders who can offer a variety of loan products to suit a range of needs.
ABC Finance Commercial Mortgage
ABC Finance offers a range of commercial property finance products that include:
Commercial Mortgages
ABC Finance offers a range of commercial mortgages to property investors and business owners which include owner-occupied commercial mortgages and commercial investment mortgages. Their commercial mortgages offer:
- Choice of fixed and variable rates
- Terms of 1-30 years
- Maximum loan to value of 80%
- Choice of repayment terms including interest-only, capital repayment or part and part
- Rates start at 2.25%
- They offer their mortgages with no broker fees on loans over £100,000
- Some set up fees may apply including lender arrangement fees, valuation fees and legal fees
HMO Mortgages
ABC Finance offers mortgages for HMOs (Houses in Multiple Occupation) such as bedsits, shared housing, hostels, halls of residence and employee housing which are buy to let mortgages. Their HMO mortgages offer:
- Choice of fixed, variable or tracker rates
- Terms of 2-15 years
- Choice of interest only or capital repayment
- Maximum loan to value of 80%
- Interest rates are not disclosed as these can vary
- Arrangement fees may apply as a flat rate or 1-2.5%
- Other fees may apply including application fees, valuation fees, legal fees and broker fees
Bridging loans
ABC Finance offers bridging loans that are short-term loans that provide a bridge to fund a financial gap which is backed by the property the loan is for. Their bridging loans offer:
- Choice of fixed and variable rates
- Regulated or unregulated
- A first or second charge against your property
- Rates start at 0.43% but typically rates can go up to 1.35%
- Maximum 80% loan to value on residential properties, up to 75% on regulated and commercial/semi-commercial properties, and up to 65% on land
- Terms of 1-24 months
- Fees can apply including arrangement fee, broker fee, valuation fee, legal fees and exit fee
Development Finance
ABC Finance offers development finance that is designed to fund the construction, conversion or heavy refurbishment of buildings. Development finance is also known as property development finance and property development loans, and these offer a short-term loan to fund the development of property which is often released in stages, and the loan is paid back on completion. Their development finance offers:
- Maximum 70% of the purchase costs or up to 100% of the build costs
- Interest is generally paid at the end of the term when the loan is repaid
- Fees can apply including arrangement fee, broker fee, valuation fee, legal fee, drawdown fee, non-utilisation fee, QS fee, admin and banking fees, and exit fee
ABC Finance Commercial Mortgage Eligibility
Commercial mortgages, bridging loans and development finance are available to individuals, sole traders, partnerships, LLPs, limited companies and overseas applicants.
Your credit history may affect applications, but they stated that they should still be able to offer a loan even if you have an adverse credit history.
ABC Finance Commercial Mortgage Rates
Rates for each of the products vary and as they are a broker they offer a wide variety of products from different lenders which means they can only provide an indicator of the rates that might apply. These are:
- Commercial mortgages – rates start at 2.25%
- HMO mortgages – not stated
- Bridging loans – rates start at 0.43% but typically rates can go up to 1.35%
- Development finance – not stated
ABC Finance Commercial Mortgage Calculator
ABC Finance provides a free commercial mortgage calculator to help you discover what the cost of taking out a commercial mortgage might be. If your property is an HMO you will need to use the HMO mortgage calculator.
ABC Finance also offers a bridging loan calculator to help you to work out the likely costs of a bridging loan.
ABC Finance Commercial Mortgage Reviews
There are a small number of reviews available across several review sites with overall positive ratings.
Trustpilot reviews are very positive overall and it provides 97% excellent score with borrowers commenting that their service is fast and efficient, provides excellent advice and personalised service.
Google Reviews and Reviews.co.uk also rate ABC Finance highly with many commenting that they utilise them for multiple products.
Trustpilot – 4.2/5 (based on 30 reviews)
Google Reviews – 4.3/5 (based on 13 reviews)
Reviews.co.uk – 4.92/5 (based on 49 reviews)
Review Centre – no reviews
Smart Money People – no reviews
How To Apply For A ABC Finance Commercial Mortgage?
To apply or get a quote for one of ABC Finance’s commercial property finance products you will need to complete their online form to request a callback from one of their team. They will take you through the application process and search the market for you to find the best product to suit your needs.
Pros
- Specialist broker in property finance offering a variety of products
- Has a large panel of lenders
- Highly rated in customer reviews
Cons
- Broker fees may apply
- Only a small number of reviews although these are positive
Website: ABC Finance Commercial Mortgage