Products

Owner Occupier Mortgage

This mortgage is available for the purchase of a property by an established business (including the purchase by tenants of the freehold of their property). We can also offer remortgages to expand current business premises, to raise working capital against business premises or to refinance existing business borrowings.

We lend to established businesses with proven, profitable track records. We will need the last three years' audited or certified accounts. If you only have two years' accounts we may consider your application but, if approved, it may be subject to a higher rate of interest. The key people in the business must be suitably qualified and experienced in that business.

For modern, good quality industrial units, warehouses, factories and offices we can lend up to a maximum of 80% of the purchase price or valuation (whichever is the lower).

For all other properties we can lend up to 75% of the purchase price or valuation (whichever is the lower). For public houses, hotels, guest houses, resturants, care homes and nursing homes we can lend up to 75% of the purchase price or business valuation (whichever is the lower). We will lend up to 75% of MV1, or 100% of MV2 whichever is the lower subject to not exceeding 100% of MV3.

If you are a 'sitting tenant' i.e. you currently rent the property that you wish to purchase, we are able to calculate the amount we are able to lend using the valuation rather than the purchase price. All loans are subject to status and secured against property. Sometimes other, additional security may be required.

We offer:

Attractive interest rates (Linked to margins above LIBOR* or bank base rate, or a fixed rate). For rates please call (01733) 374123
A flexible mortgage (click here to see details)
Personal service
Fast award-winning service and turn around
In most cases, decisions are made by the lending manager handling your application!
Up to 80% loan to value for some types of property
Experienced lending team
No fees charged for annual reviews
No compulsory insurance arrangements or business banking account

How it works

If you submit an enquiry you will be contacted by a member of our specialist commercial team. We will request certain information. Upon receipt of that information we will provide you with outline terms within 2 working days.

We will tell you if we need any further information and we will request a meeting with you if you wish to borrow more than £150,000. In other cases, we will discuss your application on the telephone, advising you of the likely timescale for the offer of any lending facility.

For rates please call (01733) 374123.

Details:

The documentation you will need to provide with your completed application form is listed below:

Last three years' audited or certified accounts of the business to be purchased. If only two years' accounts are available we may be able to consider your application but you may have to pay a higher rate Your rate will be reviewed once your third years accounts are available.
Last three years' audited or certified accounts of the business currently being operated by the vendors, in the case of a purchase application.
Last three months' bank statements and overdraft facility letter (if applicable). Six months bank statements will be required where an overdraft facility is used.
Copy of any lease/tenancy agreement(s).
Details of the background and experience of the applicants.

*LIBOR stands for London Inter Bank Offer Rate. It's the rate of interest at which banks offer to lend money to one another in the City of London.

Submit an enquiry for one of our commercial mortgage products.