When you want to make your premises your own
The cost of your premises can be a major business expense, so owning your own property can have real business benefits. A Bank of Scotland Commercial Mortgage can be a good way of purchasing commercial property. It could also help you remortgage commercial owner occupied land or premises, invest in residential property or even purchase a share in a business.
- Choose from base rate linked or fixed rate borrowing.
- Borrow up to 70% of the property's value.
You can apply by calling 0345 300 0268.
Features and benefits
- Mortgages start from £25,001.
- We could lend up to 70% of the value of the property and in some cases more.
- Loan terms from 3 – 25 years.
- Capital repayment holidays may be available.
- Repayments on fixed rate mortgages* remain the same even if the base rate drops or rises.
- If you repay part or all of your fixed rate mortgage before the end of the agreed term a breakage fee may apply**
- Other borrowing terms may be available.
- Arrangement fees, security and valuation charges will apply.
Talk to us about your plans and we‘ll help you work out how much you could borrow and agree the interest rate with you. Arrangement fees, security and valuation charges will apply.
With an interest-only mortgage, the actual amount borrowed doesn't reduce during the life of the mortgage so you will need to repay the full capital amount at the end of the mortgage term.
All loans are subject to status and we will need your permission to carry out a credit check on you and your business. You should not apply for an amount that you cannot comfortably afford to repay.
We will require a first legal charge over the property as security. This means if you are remortgaging an existing property, any loan secured on it must normally be repaid before completion.
*There is always a possibility that interest rates may go down leaving a fixed rate mortgage at a higher level compared to a variable rate mortgage. However, if interest rates rise, a fixed rate mortgage will remain at the same rate.
**Break costs may apply upon full/partial early repayment of the loan. These will be calculated based upon the loan rate compared to market rates at the time of repayment. These may be substantial.
ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.
All lending is subject to a satisfactory credit assessment and we will need your permission to carry out a credit check on you and your business.
You should not apply for an amount that you cannot comfortably afford to repay now and in the future to avoid the possibility of legal action.