Short-term specialism from Commercial Acceptances

By Michael Stevens, lending manager

Commercial Acceptances Ltd was originally founded in 1982 and subsequently acquired in 2008 by Close Brothers Group PLC, the UK’s largest, fully-quoted independent merchant bank.
We specialise in the short-term property finance market, providing bridging and development loans to experienced property traders and developers. It’s noteworthy that 70% of our business comes from repeat borrowers who appreciate our expertise and knowledge, allowing for fast and efficient decisions.

We tend to focus our lending within London and the home counties as this is where our experience and expertise lies. However, we will consider other areas depending on the client and security offered.

Our three directors – Lawrence Brown, Daniel Hertz and Nic Potter – together have over 60 years of experience in property finance. Their experience and knowledge allows for each case to be reviewed on a case-by-case basis as we fully appreciate that each and every deal is different. All deals are reviewed and judged on their own merits and we are able to structure the request to suit the client’s needs.

The directors, while supported by a large and experienced team, are always available to take client calls and can usually provide a decision there and then, depending on the complexity of the proposal. This provides clients with the comfort of a pre-agreed facility, subject to the usual valuation requirements and KYC process.

Our bridging loans range from £50,000 to £10m depending on the value of the security offered, with rates starting from 0.75% per calendar month and an LTV ratio of up to 70% against the 90-day market value of the property – although we can lend up to 75% in certain cases. The facility carries no commitment, redemption, renewal or early repayment charge with the only upfront cost being the valuation.

We attend auctions in London and the home counties and have many years of specialist experience in providing finance for auction purchases. Our bridging offering is an ideal fit for auction acquisitions given the emphasis of no fees and no minimum terms on the facility we provide.

Our CA Trade loans are provided for income-producing residential and commercial investments and residential developments. For a development, we lend a maximum loan to GDV of 55-60% dependent on the development scheme being undertaken and the experience of the client. The minimum loan amount for this facility is £250,000. When structuring a development deal we always ensure build costs, professional fees and interest is 100% covered with any remainder being applied for the purchase, refinance or to provide working capital. CA Trade facilities are appraised on a case-by-case basis with pricing and fees dependent on the type of facility required.

We would be delighted to assist with any potential enquiry and can be contacted on michael.stevens@acceptances.co.uk