Commercial mortgage bulletin


Who lends 100% LTV to doctors under the Cost Rent Scheme?


BANK OF SCOTLAND HSBC LLOYDS TSB NATWEST


ROYAL BANK OF SCOTLAND


Who offers an offset facility?


NORWICH & PETERBOROUGH BS


Who offers ‘green’ commercial mortgages?


ECOLOGY BS NORWICH & PETERBOROUGH BS TRIODOS BANK


Base rate types


GILTS - rate calculated on gross redemption yield on equivalent dated medium or long term gilt, before adding the margin. LIBOR - London Interbank Offered Rate - rate of interest banks are prepared to lend money to other prime banks. Usually the three- month rate is used before adding the margin. FHBR - Finance House Base Rate calculated on last business day of each month and effective from first day of the next month. Cost of three- month money in the interbank market is averaged over the previous eight weeks and resulting figure rounded up to next half point.


Who offers commercial mortgages for SIPPs and SSASs?


BARCLAYS CLYDESDALE BANK FAF HSBC JULIAN HODGE BANK MANCHESTER BS NATIONWIDE BS


NATWEST NORWICH & P’BORO BS


PRINCIPALITY BS ROYAL BK OF SCOTLAND


SANTANDER BUSINESS BANKING


SANTANDER CORPORATE BANKING


VERNON BS YORKSHIRE BANK


Who doesn’t charge standard early


CLYDESDALE BANK HARPENDEN BS


HOLMESDALE


redemption penalties? PRINCIPALITY BS


UNITED NATIONAL BANK LTD


YORKSHIRE BANK


Who offers bridging finance? (See also bridging finance data pages)


ALLIED IRISH BANK (GB) BANK OF CYPRUS UK BANK OF SCOTLAND BARCLAYS BANK


CLOSE BROTHERS PROPERTY FINANCE CLYDESDALE BANK


DEVON & CORNWALL SECURITES FAF


HSBC HARPENDEN BS LLOYDS TSB NATWEST


ROYAL BANK OF SCOTLAND


SANTANDER CORPORATE BANKING


TRIODOS BANK W M MANN & CO YORKSHIRE BANK


Who may accept adverse credit applications*?


BANK OF SCOTLAND BARCLAYS


CLOSE BROTHERS PROPERTY FINANCE CLYDESDALE BANK


DEVON AND CORNWALL SECURITIES LTD


FAF *Applications considered on an individual basis Valuation definitions


Market Value - The estimated amount for which a property should exchange on the date of valuation between a willing buyer and a willing seller in an arm’s-length transaction after proper marketing wherein the parties had each acted knowledgeably, prudently and without compulsion (RICS Valuation Standards Red Book PS 3.2).


Valuation definitions are contained in the RICS Appraisal and Valuation Standards (the ‘Red Book’ revised edition 2010).


ALLIED IRISH BANK (GB) BANK OF CHINA (UK) BANK OF CYPRUS UK BARCLAYS


Procuration fees payable to introducers Details on request


50% of arrangement fee Details on request Negotiable


CLOSE BROTHERS PROPERTY FINANCE Details on request CLYDESDALE BANK


Negotiable CUMBERLAND BS HARPENDEN BS HOLMESDALE BS MANCHESTER BS Neg for selected intermediaries 0.5% of advance 0.4% of advance (max £2.5K) Negotiable Other specialist schemes


Aviva Commercial Finance: 100% of project costs for medical developments and up to 95% LTV for medical purchases based on fixed rates (in the region of 1.8% above the gross redemption yield on an appropriate term gilt). Advances from £1m payable over 15 to 30 years, arrangement fee from 0.50%. Tel: 01603 686328.


Bank of China (UK) specialises in lending against Chinese restaurants and take-aways.


Devon and Cornwall Securities Ltd will consider non status


Ecology BS specialises in lending on properties and projects with ecological benefits, such as organic smallholdings and agricultural land, established small ‘green’ businesses and community amenities. Mortgages are also available for small-scale development projects and the purchase of residential housing boat moorings and woodlands. Ecology lends to charities, housing co- operatives and housing associations. Tel: 0845 674 5566.


FAF, part of NatWest, provides rural mortgages to those living and working in the countryside for business or semi-commercial purposes. Mortgages are available for estates, farms, land, small holdings, agricultural-tied properties, diversification, barn conversions, self-builds, rural businesses and both commercial and residential buy-to-lets. Specialist facilities are also available for well established golf courses.


Norwich & Peterborough BS offers a ‘green’ commercial mortgage providing a discount of 0.25% for two years off headline rate to the environmental sector or for environmentally focused businesses. Also offers commercial mortgages enabling borrowers to earn the same rate on their savings and business banking accounts as they pay for the offset element of their mortgage.


Triodos Bank specialises in lending for projects demonstrating environmental or social benefits including energy (renewables) and farms (organic).


LLOYDS TSB NATWEST NORTHERN BANK (NI)


ROYAL BANK OF SCOTLAND SHAWBROOK BANK W M MANN & CO YORKSHIRE BANK


Mortgage Repayment Table MONTHLY PAYMENTS PER £1,000


Calculation based on Daily Rest. Repayment Mortgages Interest Rate NATIONAL COUNTIES BS NATIONWIDE BS NEWBURY BS NORWICH & PETERBOROUGH BS NOTTINGHAM BS PRINCIPALITY BS SANTANDER BUSINESS BANKING 50% of arrangement fee Negotiable Negotiable 50% of arrangement fee 1% of advance Negotiable Negotiable


SANTANDER CORPORATE BANKING 50% of arrangement fee SHAWBROOK BANK


1% of advance YORKSHIRE BANK Negotiable


1.50% 1.75% 2.00% 2.25% 2.50% 2.75% 3.00% 3.25% 3.50% 3.75% 4.00% 4.25% 4.50% 4.75% 5.00% 5.25% 5.50% 5.75% 6.00% 6.25% 6.50% 6.75% 7.00% 7.25% 7.50% 7.75% 8.00% 8.25% 8.50% 8.75% 9.00% 9.25% 9.50% 9.75%


10.00%


10 yrs £8.97 £9.08 £9.19 £9.31 £9.42 £9.53 £9.65 £9.76 £9.88 £9.99


£10.11 £10.23


15 yrs £6.20 £6.32 £6.43 £6.55 £6.66 £6.78 £6.90 £7.02 £7.14 £7.26 £7.39 £7.51


£10.35£7.64 £10.47£7.77 £10.59£7.90 £10.71


£8.03


£10.83£8.16 £10.96 £11.08 £11.21 £11.33 £11.46 £11.59


£8.29 £8.43 £8.56 £8.70 £8.84 £8.97


£11.72£9.11 £11.85£9.26 £11.98


£9.40


£12.11£9.54 £12.24£9.69 £12.37


£9.83


£12.51£9.98 £12.64 £12.77


£10.13 £10.27


£12.91£10.42 £13.05 £13.18


£10.58 £10.73


20 yrs £4.82 £4.94 £5.06 £5.17 £5.29 £5.42 £5.54 £5.67 £5.79 £5.92 £6.05 £6.19


25 yrs Only ‡ £4.00 £4.12 £4.24 £4.36 £4.48 £4.61 £4.74 £4.87 £5.00 £5.14 £5.27 £5.41


£6.32£5.55 £6.45 £6.59 £6.73


£6.87£6.13 £7.01 £7.16 £7.30 £7.45 £7.59 £7.74 £7.89 £8.05 £8.20


£8.35£7.71 £8.51 £8.67 £8.83 £8.99 £9.15 £9.31 £9.47 £9.64


£5.70 £5.84 £5.99


£6.28 £6.44 £6.59 £6.75 £6.90 £7.06 £7.22 £7.38 £7.55


£7.88 £8.04 £8.21 £8.38 £8.56 £8.73 £8.90 £9.08


£1.25 £1.46 £1.67 £1.88 £2.08 £2.29 £2.50 £2.71 £2.92 £3.12 £3.33 £3.54 £3.75 £3.96 £4.17 £4.38 £4.58 £4.79 £5.00 £5.21 £5.42 £5.62 £5.83 £6.04 £6.25 £6.46 £6.67 £6.88 £7.08 £7.29 £7.50 £7.71 £7.92 £8.12 £8.33


Calculations based on daily rest. Repayments will differ if lender does not calculate interest on a daily basis. ‡ “Interest Only” means that the figures shown are the monthly interest payments on Pension, PEP/ISA, Interest Only, Endowment & Unit Trust mortgages.


BEST COMMERCIAL MORTGAGE PROVIDER 2011 Winner - Barclays Bank


BEST COMMERCIAL MORTGAGE PROVIDER 2010 Winner - Barclays Bank


BEST COMMERCIAL MORTGAGE PROVIDER 2009 Winner - Barclays Bank


READERS ARE REMINDED THAT BUSINESS MONEYFACTS IS COPYRIGHT


February 2012


COMMERCIAL MORTGAGE BULLETIN


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