Lendable, with points a lender will check first. The loan that fits: Commercial bridge, as this is a commercial or mixed-use property.
- Likely loan
- Up to 65% of the priceOn the purchase price
- On the expected hammer
- About £355,000The guide plus 15%; Savills lots have sold at +22% on the guide (median of 248)
- Example rate
- 0.9% to 1.25% a monthArrangement fee about 2%
In its favour
- In the Home Counties (Braintree)
- Cressing station, about 10 minutes' walk
What lenders will note
- Check Conversion potential is subject to planning: lenders lend on today's value until consent is granted
Information a lender will need first
- The tenure (freehold or leasehold)
- 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 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. Surroundings from OpenStreetMap (© OpenStreetMap contributors); stations from NaPTAN.