Commercial Property Rates

[clarecelt]

Hi,
Would be grateful if someone could indicate what commercial mortgage rates are approx.

Also wondering what the criteria are with lenders when structuring a commerical loan regarding terms,conditions collateral etc.

I am looking at a commercial property for approx 700k and have a residential investment property which I hope to use as some security.
Thanks

 

[Brendan Burgess]

It depends on the property and the local authority area.

Each property has a rateable valuation e.g. €70

Each local authority strikes a rate e.g. €50 per €.

The annual rates will be the rate by the Rateable valuation or €3500 (70x50) in the example above.