whats a good commercial mortgage rate at present and LTV?
Discussion
I know that they are not great, however my bank wants to re-neg our terms but im pushing against it. They also have a PG in place which I now wish to have removed so im looking to move the mortgages. at the last valution in Jan this year the combined value of the properties was X with OS balance of 70%
they are proposing 4% over base. There are 5 year lease in place on both properties.
they are proposing 4% over base. There are 5 year lease in place on both properties.
I got an ungenerous 3 month libor + 3.5 margin. 5 year term on 20 year profile. Bank (RBS Corporate) have got me by the goolies because they know the cost of moving it is utterly (6 figure) prohibitive. Basstarrds! Opted out of fixes, swaps or oomirc etc. Straight variable. Can alter it at any time, tho, and no redemption or part redemption penalties. Oh yes, I forgot. 2% facility fee just to add poison icing to the rotten cake. 
Their LTV limit is 65% and I'm (ungenerously and over conservatively) assessed as 50%.
Apparently Corporate's portfolio clients were stress tested at 9.5%, and all IO deals were stopped and must be altered to cap-and-int.
Apparently only 15% of us are having our facilities renewed at all. My ex-partner's portfolio of 600 or so is currently with their 'specialist property team' which is a euphemism for 'game over soon'. He was well warned, mind you, but was too deeply addicted to stop.

Their LTV limit is 65% and I'm (ungenerously and over conservatively) assessed as 50%.
Apparently Corporate's portfolio clients were stress tested at 9.5%, and all IO deals were stopped and must be altered to cap-and-int.

Edited by groak on Thursday 1st September 00:18
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