Grab 2 & 5 year fixed rates from 4.47% & 5.69% respectively 19.05.2009
Author: David Whittaker Posted on: 19 May 2009
This lender is really after trading businesses in freehold or long leasehold property where there is a proven track record of profitabilty in the last 2 years accounts with a budget for current FY that shows continuing satisfactory performance.
Priced daily, rates on 19 May are
- 2 year fix - 4.47%
- 5 year fix - 5.69%
Lender fee - typically 1% of loan amount, a broker fee of 0.5% and ERC as:
- 2 year fix - 4% in Year 1 and 3% over the next 3 years - effectively an overhang but reverts to a pre-agreed margin over BBR
- 5 year fix - 5% in Years 1, 2 and 3, 4% in Year 4 and 3% in year 5
Normal loan to value parameters to 75% on most standard commercial property types.
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Comments
Author: nilesh waland
Date: 26 May 2009 11:12
Comment: I have two 85% LTV BTL mortgages with Mortgage Express. Both are at 5.19% fixed and both are up for renewal Oct 09. They have a window until June to move the mortgages without ERC . Please advise. I also another 85% LTV mortgage for renewal in October at 4.99% variable currently at Zero% with BM sol Please advise.
Author: ravi
Date: 14 July 2009 12:13
Comment: Can you highlight which lender is providing the rates you talked about in the post above for BTL mortgages