Only a small number of specialist lenders. The loan that fits: Commercial bridge, as this is a ground rent investment is lent on as commercial. The things to check above are what a lender will look at too.
- Likely loan
- Case by caseOn the purchase price
- On the expected hammer
- Ask for termsThe guide plus 15%
- Example rate
- 0.9% to 1.25% a monthArrangement fee about 2%
In its favour
- Thornaby station, about 10 minutes' walk
What lenders will note
- Check Outside London and the Home Counties (Stockton-on-Tees): fewer lenders, and values need strong local evidence
Information a lender will need first
- The lease length (years left)
- The lease, the rent and the tenant's accounts
What a lender will ask you for on a commercial bridge
- Photo ID and proof of address
- Proof of your deposit and where it came from
- The legal pack, read by your solicitor before you bid
- Your exit plan: sale or refinance, with evidence (comparables, or a mortgage in principle)
- The lease, with the ground rent and service charge
- The leases, the rent roll and the tenants' accounts
- The use class and any planning history
- A valuation, which the lender instructs
We have access to lending of up to 75% of the purchase price, with up to 100% of the build cost. Tell us about the lot and we can put you in touch. Ratings and figures are a guide from the published facts, not an offer of finance or advice. Stations from NaPTAN.