COMMERCIAL MORTGAGES

[Birkin1932]

Its been a while since I have needed a commercial mortgage but this year I am having a new 8,500 square foot factory built. Its a top end build to BREAAM specifications and I will be putting 30% down

I've had an offer from Natwest at 3.5% above base and they will not move, seems a lot in comparison to my BTL rates, the mortgage is through a new LTD just to hold this particular property.

Thats a fixed deal over 15 years full repayment

Does anybody know wether this is a good deal? I do not need it sorting until September so intend to shop around.

Edited by Birkin1932 on Saturday 14th February 20:12

[Tresco]

I don't think that's a bad rate, I have a substantial commercial loan with Nat West which was taken out nine months ago at 3.75% over base on a five year term.

Shopped around recently as I know rates have reduced and the best I could get was 3.25% over base with Santander.

Edited by Tresco on Sunday 15th February 19:03

[Claudia Skies]

Birkin1932 said:

I've had an offer from Natwest at 3.5% above base and they will not move, seems a lot in comparison to my BTL rates

In which case, why are you not funding the company yourself?

[Birkin1932]

Claudia Skies said:

In which case, why are you not funding the company yourself?

Sorry, can you explain what you mean?

[Birkin1932]

Tresco said:

I don't think that's a bad rate, I have a substantial commercial loan with Nat West which was taken out nine months ago at 3.75% over base on a five year term.

Shopped around recently as I know rates have reduced and the best I could get was 3.25% over base with Santander.

Edited by Tresco on Sunday 15th February 19:03

thanks for that

[Dick Dastardly]

That looks like a good rate to me. On par with what I got from HSBC last year and better than I got from Barclays the year before.

I have a whole of market commercial mortgage broker that I am happy to recommend. If you want me to put you in touch, send me a PM.