Business Owner Occupier
We provide established businesses* mortgages for the purpose of purchasing, remortgaging or capital-raising against commercial and semi-commercial trading premises for owner-occupation.
*Established businesses are recognised as business that have a proven profitable track record over a period of three or more years. Full audited or certified accounts for the business are required for the three year period. Where only two years full accounts are available, we may still decide to lend but subject to a higher rate of interest.
Both direct business owner occupier mortgages and leaseback arrangements (with the same ultimate beneficial ownership) can be considered.
N&P Commercial Mortgages lends against the lower of purchase price and the open market vacant possession valuation.
We are able to lend to the following Borrower types:
- Individuals / Partnerships
- UK Limited Companies
- Limited Liability Partnerships
We consider the following properties suitable for investment purposes:
- Industrial units, factories and warehouses
- Retail units
- Professional Practices
- Sub-Post Offices, Public Houses, Guest Houses, Hotels, Children's Day-Nurseries
- Loan terms from 5 to 25 years
- Loans from £75,000 up to £10,000,000 maximum per portfolio
- Up to 75% LTV
- Repayment and part & part payment options available
- No compulsory insurance arrangements (conditions apply)
- No requirement to transfer your business bank account
It all depends on what your plans are for the flat.
If the residential part is less than 40% of the whole property, then you can take out a commercial mortgage, regardless of what you intend to do with the flat.
If the flat is more than 40% of the total area and you are intending to let the flat out on an Assured Shorthold Tenancy, you can still have a commercial mortgage.
On the other hand, if the flat is more than 40% of the total area and you or your immediate family plan to live in the flat, you may need to take out a Regulated Mortgage, in which case, unfortunately, we can't help you.
Early repayment charges
You can pay off your mortgage early whenever you want, but you will usually have to pay an early repayment charge if you repay all or part of your mortgage within a specified period. Additional interest will be payable in the event of early redemption of the mortgage. Please contact Commercial Lending on 01733 372 425 to discuss what Early Repayment Charges are applicable to our products.
Fees and charges
For a full list of our mortgage charges and a description of when these may apply, contact us on 0333 414 1171.
- Call our dedicated commercial mortgages team on 0333 414 1171.
- Norwich & Peterborough Building Society,
Commercial Lending Department
Peterborough Business Park
Paperwork we'll need to see
- A fully completed application form.
- The last three years' audited or certified accounts of your business. (If only two years' accounts are available we will consider your application but you may have to pay a higher rate).
- Your last six months' business and personal bank statements.
- Details of your background and experience.
- Certified copy of ID (valid driving licence and/or passport).
This is not a comprehensive list of requirements and as such depending on the type of business borrowing you may be exempt from certain requests or be required to provide additional information.