Commercial property

Wesleyan Bank launches 80% LTV commercial mortgage

Wesleyan Bank has launched a new commercial mortgage product which offers loans of up to 80% of the property's value.

The challenger bank has released the product to further extend its range of long-term loans to its professions customers, which includes both partner equity and practice acquisition loans.

Wesleyan will offer loans of up to 80% of the property’s value for owner-occupied trading premises with loan amounts ranging from £100,000 to £5m over a term of 10 to 25 years.

"We are always looking to bring to market new products and services which are tailored to the specific requirements of our customers,” said Steve Deutsch, chief executive of Wesleyan Bank.

“Our commercial mortgage proposition meets the needs of those who specifically want to invest in the property from which their business is run.”

Wesleyan will also provide facilities for refinance opportunities subject to meeting the stated terms and conditions.

"As well as offering comprehensive account management support, we can also – through our sister division – provide the relevant life cover, surgery or commercial property owners’ insurance as well as arrange additional finance for the refurbishment or fit out of the property,” Steve added.

“This one-stop shop approach provides us with a distinct competitive advantage when it comes to dealing with professional people who are often time poor."

The new commercial mortgage product is available to all medical professions – including doctors, dentists and vets – as well as ‘paper’ professions, such as solicitors, accountants, surveyors and architects.

"As a specialist provider of products to professional organisations, we understand the pressures and growth challenges they face today.

“Wesleyan Bank's flexible and bespoke solutions cover every aspect of financial support under one roof to ensure that purchasing a commercial property is a smooth and seamless process, from beginning to end.”

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