Mortgage for Commercial property

[spangle]

hi

Does anybody know of a lender who will mortgage the following property:-

Two Storey Ground floor Commercial /Top floor residential

Purchase price £58k

Freehold

Ltv 75+(preferably 80% if poss)

Fixed rate fro 3-5 years

My other commercial property's are three storey with the bottom being a shop unit. Mortgages are easy to get on these.However two storey properties seem to be problematic.

I have already had an offer of 60% LTV at 5.25% fixed for three years. I would like a higher LTV. Most lenders are not interested because of the property value and hence small mortgage. Other stipulate that the commercial element can be no more than the 40% of the floor area. There must be lenders out there that will offer reasonable LTV's and rates for this common two storey property

thanks for your help

spangle

[Editor]

You should find someone here:
http://www.landlordzone.co.uk/dir/finance-mortgages.htm
Try Mortgages for Business

[spangle]

hi

thanks for the reply. I've tried them,they are only interested in loans of £100k+

thanks

spangle