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?
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.