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Commercial Mortgage?
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ruzzy
Posts: 1 Newbie
Hi Everyone,
Im looking for a good commercial mortgage (our first one) our business is already established and profitable. We want a 100k property we have about 10k to hand but our bank wants a 20k deposit which will be a serious stretch at the moment.
Could anyone suggest a broker or.................well anything.
sorry for being vague
Ruz
Im looking for a good commercial mortgage (our first one) our business is already established and profitable. We want a 100k property we have about 10k to hand but our bank wants a 20k deposit which will be a serious stretch at the moment.
Could anyone suggest a broker or.................well anything.
sorry for being vague
Ruz
0
Comments
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We cannot recommend anyone. I suggest you look in the yellow pages and find someone you like and trust.0
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20% deposit is as low as you will find in the current climate. I did obtain 85% for an Accountant with RBS but they only went to such a high ltv as he was a professional with 10 years very profitable trading.0
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I agree with Conrad - you need 20% for most cases, 25% for some of the most competitive rates. Can you raise an extra £10K on your residential property or by way of a business loan?I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it.This signature is here as I follow MSE's Mortgage Adviser code of conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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