Is this a competitive offer in todays market .....

Jaxer

The property is a freehold shop/flat so it's a commercial loan on a self-cert basis - currently vacant/needing refurbishment.

Borrowing £150k on a £200k valuation,

Base+2.5% with a 3 year fix (7.5%)
Arrangement fee of 0.5%

The broker I'm using hasn't inspired confidence with the way things have been handled up to now (more to do with his approach to administration then the advice) but I don't want to start a whole new application process.

I'd be very grateful to get another opinion as to whether this is a reasonable offer.

NeilQuinn

It's not bad at all, especially for a self-cert commercial. I'm currently doing one for a client that is 2% above base & a fee of 1%.....not self-cert either. It's from a High Street bank as well. I'd say you've got a decent deal there - plus it's vacant which would make a lender a bit more nervy. The case I'm doing is an established business + a tenanted flat.

Dan_Collins_2

Good rate take it!

MortgageMamma

Yep agreed I think its a good deal too, if your not happy with how your broker is handling things then talk to him/her about it, don't let things fester - you owe it to yourself and the broker will appreciate your honesty once he/she gets back up off the floor!