Best 15 Year Rate Borrowing?

[2 5HAN]

Hi Guys

Just wonder for those of you in the lending market what sort of rate should i be able to get for £460k borrowing over 15 years?

160k Down as deposit.

Its not for a pricipal residence if that makes any difference?
Cheers in Advance

[eyebeebe]

I'd have thought it would depend on security and your previous relation with with the lender. Put it this way your not about to get a no questions asked Ocean Finance loan for that kind of cash. IIRC you would be pushing the boundaries from commercial banking to corporate banking and they would want to do a fair amount of due diligence on you if they were lending that kind of cash over that time period.

Sorry I can't help you with specifics. I'd suggest making an appointment with your current bank's corporate team.

[minimax]

when you say not resi do you mean BTL or commercial?

either way, with a bit more info I can almost certainly provide your answer

[smirnoff]

And also explain why you would want a 15 year deal?

[2 5HAN]

Sorry guys should have been more specific....

Its a building to be used for accomodating staff, reagrding equity that is no problem as are putting 160k into the deal and have plenty of equity for other security if needed?

Reason for 15 year deal was purely that i looked at a few different fixed rates and 15 years works for me in terms of an exit strategy.

Already have an offer from our Commercial Bank but wondered if there was anything being offered about or if you knew of anything?