Cambridge & Counties Bank is a business best known for its personal savings accounts, but also acts offers a range of commercial mortgages, as well as a handful of asset finance products – but does it have good reviews?
Traditional loans are not available, and asset or vehicle finance products are a little limited, so Cambridge & Counties Bank is really only worthy of consideration if your business requires financial assistance in the realm of property – whether that is accruing a new building to work from, expanding a portfolio, or securing borrowing against an existing property asset.
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Cambridge & Counties Bank business loans and finance
- Pros and cons
- Commercial mortgages
- Asset finance
- Business vehicle finance
- Business loans
- Merchant cash advance
- Invoice finance
- Business credit cards
- Cambridge & Counties Bank key information
- Cambridge & Counties Bank reviews
- Business eligibility criteria
- Business finance alternatives
- Additional considerations
- FAQ
Pros and cons of Cambridge & Counties Bank for business finance
| Pros | Cons |
|---|---|
| ✓ Wide range of commercial mortgage products | ✗ No business loans available, only second charge mortgages |
| ✓ Asset finance is available for sectors likeliest to require this assistance | ✗ May only agree to work with you through a broker, which means more fees |
| ✓ FSCS protected as this is a bank | ✗ Very few online reviews |
Commercial mortgages
Property finance is the primary business funding offering of Cambridge & Counties Bank, with the following first- and second-charge mortgage products available:
- Commercial investment
- Commercial owner-occupier
- VAT loans
- Mixed use loans
- Refurbishment loans
- Bridging loans
- Secure pension loans
Commercial investment
Borrow anything from £250,000 and £15,000,000 to take out a mortgage on a commercial property you plan to lease to another business. Maximum mortgage available will be 70% of the property value. Repayment terms can be up to 25 years, and a personal guarantee will be required.
Commercial owner-occupier
If your business has been trading for at least 12 months, apply to borrow up to £15,000,000 for a commercial property that you plan to base your operation from, repayable for up to 25 years. You’ll need a minimum deposit of 30%. Personal guarantee may be required, depending on your circumstances.
VAT loans
Borrow against a property to pay a VAT bill, with the full debt due within five months. You will be able to borrow a total value of 90% of your property’s equity.
Mixed use loans
Take out a secured loan between £250,000 and £15,000,000 against your property, repayable for up to 25 years. Maximum loan value will be 70% of the equity held in the property.
Refurbishment loans
Borrow between £250,000 and £2,000,000 to complete refurbishment works on properties owned by your business and rented to paying tenants. Loan will be capped at 65% of the equity in the property and due for repayment within nine months.
Bridging loans
Borrow up to 60% of the equity in a property to plug a gap in your finances, with the full sum repayable within 24 months. This loan is typically used to purchase a new property or lay down a deposit while you are waiting for another to complete a sale.
Secure pension loans
Borrow up to 70% of a commercial property’s value against your pension fund. This is literally a case of mortgaging your future, so approach this product with caution.
Asset finance
Cambridge & Counties Bank offers asset finance solutions to the construction and agricultural industries, as well as general machinery for a business. The asset finance products available through Cambridge & Counties Bank can take one of three forms:
Hire purchase
Borrow 100% of the cost of an asset (up to £1,500,000), and repay Cambridge & Counties Bank for up to seven years. Once the repayments are complete, pay a small fee to take ownership of the asset outright.
Finance lease
Borrow a maximum of 97.5% of the cost of an asset (up to £1,500,000), and lease it from Cambridge & Counties Bank for up to five years. At the end of this lease, you can renew and start again, or return the asset to Cambridge & Counties Bank.
Equity release
Release equity found in assets that your business already owns. You will need to contact Cambridge & Counties Bank to discuss your options if this approach interests you.
Business vehicle finance
While Cambridge & Counties Bank offers vehicle finance, this is primarily for personal customers, specialising in rare and classic car finance. You may be eligible to borrow funds for an electric company car, but for more specialist services, see our guide to business vehicle finance.
Business loans
✗ Cambridge & Counties Bank does not offer traditional, lump sum business finance, only second charge mortgages. See business loans.
Merchant cash advance
✗ Not available through Cambridge & Counties Bank. See merchant cash advance.
Invoice finance
✗ Not available through Cambridge & Counties Bank. See invoice factoring.
Business credit cards
✗ Not available through Cambridge & Counties Bank. See best business credit cards.
Cambridge & Counties Bank key information
| Phone number | 0116 402 9194 |
| App downloads | N/A |
| Website | www.ccbank.co.uk |
| Number of branches | N/A |
| FSCS protected? | Yes |
| Founded | 2012 |
Cambridge & Counties Bank reviews
| Review platform | Score | Number of votes |
|---|---|---|
| TrustPilot | 3.2/5 | 3 |
| Feefo | Not reviewed | N/A |
| Reviews.io | Not reviewed | N/A |
| Smart Money People | Not reviewed | N/A |
| Which? | Not reviewed | N/A |
| Average score | 3.2/5 | 3 |
Business eligibility criteria
Cambridge & Counties Bank assesses each application for funding on a case-by-case basis. In some cases, lending will only be considered for “experienced businesses,” though Cambridge & Counties Bank does not specify exactly what this means.
Business finance alternatives
If you are looking for a commercial mortgage, pair up with a broker to find out if there are any better alternatives to Cambridge & Counties Bank. Most of this lender’s business comes from brokers anyway. Alternatively, seek a financier that offers greater flexibility on asset finance – Cambridge & Counties Bank does not work with every industry.
Additional considerations
Despite the name, Cambridge & Counties Bank is based in Leicester, so geography does not need to be a stumbling block for anybody considering funding from this provider.
FAQ
Get in touch with Cambridge & Counties Bank by calling 0116 402 9194 and starting an initial consultation on your needs, and whether this lender will be able to meet them.
While most of the funding offered by Cambridge & Counties Bank involves security against an asset, some mortgage applications may be considered without a personal guarantee.
Cambridge & Counties Bank typically offers funding between £250,000 and £15,000,000, though some products have a lower ceiling. If you are securing against an asset, your available funding will depend on how much equity your asset has.
This will be assigned upon a successful application for a commercial mortgage or asset finance package from Cambridge & Counties Bank, based on a range of factors.
You may find that you need to team with a mortgage broker to borrow from Cambridge & Counties Bank, which will potentially lead to additional fees. Ensure you fully understand how much you are looking to repay before committing to any financial agreement.
The closest this lender comes to generic SME loans is a mixed use loan secured against a property that you own. This will be a second charge mortgage, with the funds you receive able to be redirected throughout your business, but it’s not a straightforward loan.