whats a good commercial mortgage rate at present and LTV?
whats a good commercial mortgage rate at present and LTV?
Author
Discussion

Obiwonkeyblokey

Original Poster:

5,400 posts

256 months

Wednesday 31st August 2011
quotequote all
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.

CraigVmax

12,248 posts

298 months

Wednesday 31st August 2011
quotequote all
talk to scotal on here

Tresco

525 posts

173 months

Wednesday 31st August 2011
quotequote all
Have had the same coversation recently with RBS regarding our loans, base plus 4% seems very reasonable particularly as the leases are so short.

groak

3,254 posts

195 months

Thursday 1st September 2011
quotequote all
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. cry

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. yikes 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.

Edited by groak on Thursday 1st September 00:18