Product Terms
Loan amounts: Minimum £50,000; maximum £2,000,000
Loan to Value: Maximum 75%
Security: First charge on freehold or long leasehold (min 50 years remaining) commercial property situated in England or Wales. The majority of commercial property types are acceptable, with the exception of petrol stations, night clubs and golf courses.
Loan Term: 2 - 20 years.
Arrangement Fee: From 1% of the loan – this can be added to the loan.
Interest Rate: From 2% over Bank of Scotland base rate.
The total cost for comparison is 12.2% APR typical.
Redemption Fee: Typically 3 months interest for the first 2 years; nothing thereafter.
Valuation Fee: 0.2% of value, plus vat (subject to a minimum of £350+vat).
Solicitors: We will appoint our own solicitors.
The fee scale is as follows:
Purchase Price
/ Value of Property
£ |
Legal Fees
+ VAT
£ |
| 0 – 50,000 |
595 |
| 50,001 – 100,000 |
665 |
| 100,001 - 150,000 |
725 |
| 150,001 – 200,000 |
765 |
| 200,001 – 250,000 |
815 |
| 250,001 – 300,000 |
869 |
| 300,001 – 400,000 |
915 |
| 400,001 – 500,000 |
965 |
| Over 500,000 |
By individual quotation |
|
