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Tag: mortgage solutions

  • Alternative Commercial Mortgages: New Options for Brokers

    Alternative Commercial Mortgages: New Options for Brokers

    Alternative Bridging Corporation has introduced a new subsidiary, Alternative Commercial Mortgages (ACM), aimed at providing long-term commercial mortgage solutions to brokers and their clients. This launch is significant as it offers a streamlined approach to commercial lending, catering to property investors and commercial owner-occupiers seeking flexible funding options.

    TL;DR: Alternative Commercial Mortgages (ACM) offers long-term commercial mortgage products with terms from five to 30 years; brokers can access a user-friendly portal to manage cases efficiently.

    What types of properties do ACM mortgages cover?

    ACM’s mortgage products are designed for a variety of property types, including commercial, semi-commercial, and residential buy-to-let properties. This includes offices, industrial units, retail spaces, and mixed-use premises, making it a versatile option for landlords and investors. Loans can be used for purchase, refinancing, or capital raising, with a maximum loan-to-value (LTV) ratio of 75%.

    How does ACM simplify the commercial mortgage process?

    ACM aims to demystify commercial-term lending by offering straightforward product options alongside flexible underwriting criteria. Brokers will benefit from a dedicated portal to submit and manage applications, ensuring they can support their clients effectively throughout the process. This approach is designed to enhance communication and provide clarity on what lenders can offer, reducing the complexity often associated with commercial mortgages.

    What this means for brokers and property investors

    For brokers, ACM represents an opportunity to access a simplified lending process that can help them serve their clients better. The availability of fixed and discounted variable-rate options, along with interest-only repayment structures, allows brokers to tailor solutions to their clients’ specific needs. Property investors and commercial owner-occupiers will find ACM’s offerings appealing due to the long-term funding solutions that can support their investment strategies.

    Frequently asked questions

    What are the loan terms available with ACM?

    ACM offers loan terms ranging from five to 30 years, providing flexibility for various financing needs.

    How can brokers access ACM’s services?

    Brokers can access ACM’s services through a dedicated broker portal that facilitates case management and communication throughout the application process.

  • Afin Bank Enhances Mortgage Market with MAB Partnership

    Afin Bank Enhances Mortgage Market with MAB Partnership

    Afin Bank has officially joined the lender panel of Mortgage Advice Bureau (MAB), enhancing the mortgage market by providing borrowers with more tailored options. This partnership aims to assist those with unique financial situations, ensuring they receive the guidance needed to secure the right mortgage.

    TL;DR: Afin Bank’s inclusion in MAB’s lender panel expands mortgage options for borrowers with diverse circumstances; this collaboration aims to improve access to suitable mortgage solutions.

    What does this partnership mean for borrowers?

    The collaboration between Afin Bank and MAB is significant for borrowers facing challenges in securing mortgages due to atypical job situations or income sources. John Smith, head of bridging at Afin Bank, emphasised the importance of good advice in these scenarios, indicating that this partnership will help more individuals access the mortgages they deserve. With Afin’s flexible offerings, MAB advisers can now present a wider range of solutions tailored to various borrower needs.

    How will this impact mortgage brokers?

    Mortgage brokers can expect enhanced support and resources from MAB with the addition of Afin Bank. Rachel Geddes, strategic lender relationships director at MAB, highlighted the commitment to helping customers say yes to more mortgage options. This partnership equips brokers with the tools to better serve clients who may have previously struggled to find appropriate mortgage products, thus broadening their service capabilities.

    What this means for the mortgage market

    The entry of Afin Bank into MAB’s panel signifies a positive shift in the mortgage market, particularly for those with non-standard circumstances. By increasing the variety of lenders available, this move aims to support greater inclusivity in mortgage accessibility. Borrowers can look forward to more tailored solutions that cater to their unique financial situations, which is important in today’s diverse economic environment. For more details on current mortgage rates, check out our current mortgage rates.

    Frequently asked questions

    How will Afin Bank’s partnership with MAB affect my mortgage options?

    This partnership will provide you with more tailored mortgage solutions, especially if you have a unique financial situation.

    What should I do if I have a non-standard income?

    Consider reaching out to a mortgage broker affiliated with MAB, as they can now offer more flexible options through Afin Bank.