The Cross Collateral Risk Cross collateral is where a lender takes security over a number of assets to secure their line of credit, risk, mortgage or loan. One of the more surprising elements of cross-collateralisation is that borrowers can find themselves within that situation unintentionally. It is common to see a bank lend against a
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The EPC Challenge Facing Buy To Let In 2015 the government introduced the Minimum Energy Efficiency Standard (MEES) requiring landlords to ensure that by 2025 all newly rented properties reach an Energy Performance Certificate (EPC) rating of C or above. This will extend to all rental properties by 2028. The big question is around how
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How to finance a property bought at auction Forget any episode of ‘Homes under the Hammer’ that is not how real life works. When buying a property at auction you typically only have 28 days to complete on the purchase, which means being a cash buyer or having the finance in place before you bid.
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Wood v Commercial First Business Ltd This case has ruled on last week following an appeal bought by Mortgages For Business. The case was about the payment of commissions by a lender to a broker and where that left the responsibility of the broker and the lender. In essence, if the lender pays a commission
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Finance that is free? They always say that if an offer is too good to be true then it is. This one is unlike the Nigerian Prince who has millions to give away in return for your bank details and pin number, it really is the very best commercial finance product I have seen in
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What Is Company Administration? A common term that appears in the mainstream pretty frequently, but what is a ‘company administration’ and what does it actually do? If a company is being threatened by its creditors (i.e. – a landlord, HMRC, lender, suppliers, credit card providers, etc.) and there is a risk that the company could
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Why The Biggest Threat For Banks Are The Tech Giants Sometimes you read an article and realise that someone is agreeing with something you first mentioned two years earlier. I’m not sure if I should be flattered, plagiarised or overtly smug. Not being the smug type I will take it as flattery and exoneration for suggesting
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Business Fraud Scams A study by the American organisation, Association of Certified Fraud Examiners (ACFE) showed that 50% of all businesses will be subject to some attempted fraud. The level of fraud attempts against businesses has grown since the economic downturn in 2009 which is hardly surprising, however that trend does not appear to be abating
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