Fee for Commercial Mortgage

D

Ducky

Registered User
Messages
137
Hi,

I'm taking out a Commerical Mortgage to re-finance two investment properties. Bank of Scotland are charging me 1% (€4,120) to do this. Is this the norm when taking out a Commericial Mortgage?
 
No I'm not. I only have 6 weeks to get this money together and don't have time to go to a Broker.
 
If these are standard residential investment properties then no this is not the norm, shop around.
 
Hi

Just wondering what the interest rates are for commercial mortgage approx.

Looking at warehouse at 700K
Annual rent approx 65K

Wondering how much collateral I need to put forward for something like this.

Thanks
 
clarecelt said:
Hi

Just wondering what the interest rates are for commercial mortgage approx.

Looking at warehouse at 700K
Annual rent approx 65K

Wondering how much collateral I need to put forward for something like this.

Thanks
Click to expand...

I have stated elsewhere I work for a commercial bank

We would look at doing 80% of the purchase price (cover stamp & fees yourself)
Approx 2% over Euribor cost of funds c 4.9 % would be indication rate today..this would be starting point but im sure ya know well haggle!!!

As for issue re fee, 1% wouldnt be off the wall but as Sarah said id haggle.
 
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