The products are:
An exclusive self certification semi commercial Hampshire Trust mortgage offering:
A Bank Base Rate tracker from Commercial First offering:
Simon Ryder, General Manager at Solent Commercial, explains why these products are vital to the market. “Everyone is aware in the residential market of the three distinct types of borrowers: prime, niche (such as those with light credit impairment or unusual requirements) and non conforming (borrowers with a significant adverse credit history). All of these borrowers are served well with a choice of products and lenders.
“However, until recently things were very different in the commercial lending industry. Borrowers could have either prime or non conforming mortgages - there was no middle ground. Those borrowers with some level of credit impairment found themselves with a non conforming mortgage which over compensated for the risk they actually presented.
“These two new products from Commercial First and Hampshire Trust recognise that many commercial borrowers, through the natural course of business, may find themselves with CCjs or arrears. These products recognise the increased level of risk but rates reflect the fact that the borrowers fall somewhere in between prime and non conforming.
“Solent commercial is now in a situation where it has a full portfolio of lenders and products that cover most eventualities for the commercial borrower.
