The lender revealed it will still consider applications from borrowers with 'historical adverse credit histories' as long as there is a full explanation behind the blemishes on their record.
Base plans to carry on accepting and underwriting commercial business as usual from those with a spotless credit record, and will honour all adverse applications already received.
Mark Stephens, chief executive at Base Commercial, said that the business did not want to become a 'lender of last resort'.
He said: “We have good funding lines in place and we want to do everything possible to maintain our credit quality and ensure our mortgage assets remain an attractive proposition for potential investors.
“We cannot ignore developments taking place elsewhere in the commercial mortgage market. Our decision has been driven by the current economic conditions and the need to keep a tight control over credit quality."
