The Commercial Mortgage 100.
Rates & Costs
Focus: Fees, interest rates, and the total cost of borrowing.
How do you finance large-scale commercial projects in the UK?
How does asset-based lending work for commercial property?
Are there tax benefits to getting a commercial mortgage?
What credit score is required for a commercial mortgage?
What is a specialist commercial mortgage, and when is it needed?
What is the difference between commercial development finance and a commercial mortgage?
What is mezzanine finance, and how can it help with commercial property investment?
Can I extend the repayment term of my commercial mortgage?
How do fixed-rate commercial mortgages compare to variable-rate mortgages?
How can I reduce the cost of my commercial mortgage repayments?
What common mistakes should I avoid when applying for a commercial mortgage?
How do commercial mortgages for healthcare properties differ?
What’s the difference between interest-only and capital repayment commercial mortgages?
How does a commercial mortgage broker help find the best rates?
How do I calculate monthly repayments on a commercial mortgage?
Are there penalties for paying off a commercial mortgage early?
How does investment in renewable energy projects affect mortgage options?
How do I apply for a commercial mortgage?
How do commercial mortgage rates fluctuate with market changes?
Promise Money is a broker not a lender. Therefore we offer lenders representing the whole of market for mortgages, secured loans, bridging finance, commercial mortgages and development finance. These loans are secured on property and subject to the borrowers status. We may receive commissions that will vary depending on the lender, product, or other permissable factors. The nature of any commission will be confirmed to you before you proceed.
More than 50% of borrowers receive offers better than our representative examples
The %APR rate you will be offered is dependent on your personal circumstances.
Mortgages and Remortgages
Representative example
Borrow £270,000 over 300 months at 7.1% APRC representative at a fixed rate of 4.79% for 60 months at £1,539.39 per month and thereafter 240 instalments of £2050.55 at 8.49% or the lender’s current variable rate at the time. The total charge for credit is £317,807.66 which includes £2,500 advice / processing fees and £125 application fee. Total repayable £587,807.66
Secured / Second Charge Loans
Representative example
Borrow £62,000 over 180 months at 9.9% APRC representative at a fixed rate of 7.85% for 60 months at £622.09 per month and thereafter 120 instalments of £667.54 at 9.49% or the lender’s current variable rate at the time. The total charge for credit is £55,730.20 which includes £2,660 advice / processing fees and £125 application fee. Total repayable £117,730.20
Unsecured Loans
Representative example
Annual Interest Rate (fixed) is 49.7% p.a. with a Representative 49.7% APR, based on borrowing £5,000 and repaying this over 36 monthly repayments. Monthly repayment is £243.57 with a total amount repayable of £8,768.52 which includes the total interest repayable of £3,768.52.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME
REPAYING YOUR DEBTS OVER A LONGER PERIOD CAN REDUCE YOUR PAYMENTS BUT COULD INCREASE THE TOTAL INTEREST YOU PAY. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
Promise Money is a trading style of Promise Solutions Ltd – Company number 04822774Promise Solutions, Fullard House, Neachells Lane, Wolverhampton, WV11 3QG
Authorised and regulated by the Financial Conduct Authority – Number 681423The Financial Conduct Authority does not regulate some forms of commercial / buy-to-let mortgages
Website www.promisemoney.co.uk