Commercial Mortgages

SRBS occasionally lends on commercial freehold property in the Stafford area only. At present however the Society is not lending on commercial property. The position is reviewed on a regular basis but at the moment, the rest of this page is for information only.

The features of our commercial mortgages are:

Current variable rate:	4.99%
Minimum loan:	£25,000
Maximum loan:	Two thirds of the current 'bricks and mortar' value of the property (or purchase price if lower) maximum £500,000
Maximum term:	20 years
Income:	Income is assessed as for 'buy-to-let'. The income of a limited company is considered to be pre-tax profit, with adjustments made for exceptional transactions.
Fees:	Valuation fees are payable by the applicant. You will be asked to pay a non-refundable fee prior to the surveyor being instructed. We will confirm the amount once your application has been approved in principal. SRBS may appoint its own solicitor in the transaction and if this happens you will be liable to pay their fees at completion.
Insurance:	Occasionally some insurance (e.g. key man or loss of profits) may be a condition of the mortgage in which case the requirements will be detailed in the letter of offer.
Buildings and Contents Cover:	Applicants must arrange their own cover to comply with the conditions set out in the offer letter.

Stafford Railway Building Society is regulated by the Financial Services Authority, register number 206063, www.fsa.gov.uk/register

The information contained on this site is to provide guidance to prospective borrowers and should not be interpreted as a statement of Society policy. All mortgage applications are subject to an appraisal of the financial standing of the applicant(s) and any guarantor(s).

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE.