Cheapest Commercial Mortgage

[Deleted User]

Hi All
I am buying a commercial premises freehold 65000. Has anyone come across a cheap commercial mortgage please?

Regards
Thomas

holly_hobby

Loading on base -dependant on the type of property, nature of business, ability to service loan, business plan and perceived exposure to the lender.

Commercial rates are not like residential i.e the lender has a list of products you choose one from.

Would suggest speaking to your own bankers in the first instance, and then (subject to their acceptance) use their quote as a benchmark for market comparision.

Or, seek the assistance of a specialist commerical broker.

Ballpark 1 - 2% on lenders base - but that is a VERY general guidance fig - the actual loading as above depends upon specific factors to the enquiry itself. Deposit circa 35%. Fees 1 - 2% of borrowing.

Hope this helps

Holly

kingstreet

As a non-Commercial mortgage specialist I have put deals together from time to time. My experience is that you put hours in preparing the deal, eventually getting an offer for the client.

The client then decides to approach his own bank who offer to do it for 0.25% to 0.5% less than the deal I arranged.

My advice is always to go to your own bank first.