Business mortgage

For the purchase or refinance of owner occupied commercial property (e.g offices, industrial, retail)

Typical terms:

• Amount - minimum £100,000 - no maximum
• Loan to value - up to 90% Open Market Value of property to be mortgaged
• Term - up to 30 years
• Repayment - regular instalments of capital and interest are standard but interest only is available in certain circumstances
• Interest rates - fixed or variable rates are available. Margins on variable rates are usually between 1% and 3% above Bank of England base rate or LIBOR
• Lenders' fees - an arrangement fee is payable on acceptance of the lender's formal offer. You usually have the options of either paying this amount up front or adding the amount to the loan
• Other costs - borrowers are responsible for legal and valuation costs and the broker's fee