Lancashire Mortgage Corporation is the commercial lending division of the Blemain Group, an organisation with nearly 35 years of experience in the provision of mortgages, loans, bridging finance, development finance and land finance for commercial clients. Over the last 20 years we have expanded our portfolio to offer a comprehensive range of commercial finance products including early payment plans, discounted rates and interest only for the full term. Throughout this period we have remained 100 per cent committed to the intermediary sector and are still dedicated to the market.
Lancashire Mortgage Corporation is well known as an ‘all status’ lender. All cases are considered regardless of the client’s income source, the property type and usage or the property valuation. Lancashire Mortgage Corporation has also developed a growing reputation for market responsiveness and product development and was the first lender to introduce ‘interest only’ for the full term of a loan. Current products continue to provide a variety of innovative features that are specifically tailored to the requirements of commercial borrowers, including a diverse range of repayment options for both mortgages and secured loans.
Options
Discounted rates and early payment plans can be selectively combined by Lancashire Mortgage Corporation’s brokers and deployed in a variety of ways to help their clients reduce repayments during early periods of their loan. This allows the client to free up capital that can then be channelled into core business activities, a facility that can be particularly valuable for them during the early stages of an acquisition or a project. For bridging finance, Lancashire Mortgage Corporation also offers repayment options to cover a wide variety of circumstances, including early payment plans. These provide similar benefits to those outlined above, with the addition that bridging plans can also be tailored to provide clients with the ability to draw down their funding in stages. This feature is often useful for clients engaged on projects with distinct phases. Of course, Lancashire Mortgage Corporation still provides interest only repayments across its entire range of secured loans and mortgages
As a major player in the non-mainstream commercial market we pride ourselves on our experience and ability to adapt to variable market conditions whilst providing a fast and flexible service. Products and services suitable to the economic climate are continually reviewed to ensure a competitive edge for introducers.
Underwriting
Gary Bailey, Director says, “Over the past few months all lenders have reviewed their liquidity and risk to accommodate market movements whilst maintaining efficiency and service levels.
“We’ve taken a close look at our underwriting procedures and come up with a number of enhancements that will create tangible improvements to the speed and efficiency with which we can provide ‘in-principle’ decisions and respond to queries. Given the current market fluctuations we believe it is especially important that we do everything in our power to lend prudently and help our brokers capitalise on any opportunities that present themselves. We have the capacity to meet the challenges of this market head on and work even more closely with our partners to ensure our mutual success.
“Very few non-mainstream lenders have survived a recession or market conditions similar to the ones we are currently experiencing. Lancashire mortgage Corporation has not only weathered such conditions before, but has come through them stronger and wiser. We still have a strong appetite to lend and the experience to take a common sense view, working with brokers to consider cases even if they fall outside our standard criteria with a view to completing additional business.”
