If you are considering purchasing a
building and require finance, then the company
below may be able to assist you. Please contact them directly
if you require finance:-
Abbey Commercial Mortgages
Would be interested in assisting potential purchasers of individual units with
the provision of long term finance, subject to status. An indication of our funding
terms is provided.
Loan Amount
Up to a maximum of 75% of the lower of purchase price or market value (assuming vacant possession).
Term
Up to 30 years.
Interest Margin
Between 1.75% and 2.5% over a variable or fixed rate. *Fixed rates can be offered
for up to 5 years on loans over £500k.
Arrangement Fees
0.5%of loan amount, subject to a minimum of £1,000.
Repayment
Fully repaid over loan term; an initial interest-only period up to a maximum of 36 months
may be available by negotiation.
Security
A first legal charge over the property. If a corporate acquisition, a fixed and floating
charge and directors guarantees may be required.
Valuation
A full valuation by a Chartered Surveyor on the Bank’s panel will be required.
The cost of this is for the borrower’s account and will depend on the individual
purchase price. VAT will be payable.
Legals
The bank’s legal work will be undertaken by a panel solicitor and the cost
will be for the borrower’s account. Subject to negotiation, the bank’s
solicitor may be able to act for the purchaser as well.
Financials
All loans are subject to status; a minimum of two years certified accounts, illustrating
a profitable out-turn will be required. As a guide EBITDA must cover interest payments at a notional rate of 2.25 x the base rate plus margin.
This indication does not constitute an offer of finance,
implied or given. All applications are subject to individual
credit approval. To apply or discuss in greater detail, please contact:
