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Why choose National Counties

The Society's approach to commercial lending is heavily influenced by its mutual status: striving to offer professional property investors quality products, competitive pricing and excellent service.

What does this mean in practice?

• An attractive Bank of England Bank Rate variable product and fixed rate loans linked to market rates.
• A Flexiloan that allows staggered drawdown and overpaid capital payments to be redrawn.
• Competitive interest rates linked to loan to value (LTV).
• Fees and terms that are both competitive and fair.
• Part amortisation and, dependent upon LTV, interest only options available.
• Fast, friendly and professional service - we do not operate a faceless 'loan factory'.
• We will keep you informed of progress from application right through to completion.
• We do not insist on our insurance or assurance covers, allowing you to shop around.
• You can leave your main bank account where it is.

Who can obtain a National Counties mortgage?

The Society will lend to UK based individuals, partnerships, Limited Companies and LLP's and or / Channel Islands or Isle of Man SPV's, The Society is able to be highly competitive by tailoring loan terms to individual customer needs. We only consider loans on prime commercial investment proposals (offices, retail units, light industrial units and warehouses) let on strong covenants.

What about interest charging and repayments?

Interest is charged on a daily basis and compounded (debited to the loan account) on the last day of the month. Monthly payments are collected by direct debit, the first being due a month from completion. Interest due between the Completion Date and the end of the first month will be added to the initial payment.

National Counties offers a number of different mortgage products. Please click on Product Details to see our current product range. Both variable and fixed options are normally available. Loans are usually repayment (capital and interest), but interest only or part amortisation loans may be considered subject to the merits of the proposal. All products are limited funds and can be withdrawn at any time.

Loans can be agreed for any term up to twenty-five years. Early repayment charges and fixed rate break fees may apply.

How are applications processed?

There are five stages between submitting an application and drawing down a loan, these are summarised below.

• Agreement in principle decision

  The Commercial Lending Department considers the application and confirms whether it is acceptable 'in-principle'. This means your application meets our basic lending criteria but that further detailed information will be required to consider the application in full. It is not a binding decision at this point.

• valuation

  If the application is acceptable in-principle, a business appraisal and/or valuation report will be required. This needs to be instructed in a specific manner and therefore you should contact the Society for further details. The applicant will be expected to cover costs in this regard.

• sanction and offer

  Providing the appraisal and valuation report and our assessment of your proposal is satisfactory, the loan will be approved and a facility letter issued.

• legal process

  Once you have accepted the terms of our facility letter and all relevant fees have been paid we will instruct our solicitor to progress matters. The applicant can use the solicitors acting for the Society or choose to use their own solicitor.

• Drawdown

  Once our solicitor confirms that all legal formalities have been satisfied, the transaction can complete.

National Counties recognises that speed of service is often a crucial issue. The Society endeavours to offer a service that is both quick and efficient. Furthermore, we use the services of valuers and solicitors who offer equal service standards. We also believe that regular communication between all the various parties involved is vitally important. National Counties knows that purchasing a property, refinancing or raising capital, can be stressful and we strive to resolve any potential issues at the earliest opportunity in an effort to process your proposal as smoothly as possible.

Is there anything else to consider?

The security property must be insured for the full reinstatement value. Whilst it is the borrower's responsibility to ensure cover is sufficient, the Society will insist on the cover being for a minimum sum, as advised by our valuer for guidance purposes. The borrower is free to make their own insurance arrangements and the Society will accept any major insurance providers. Confirmation that the insurance has been renewed must be provided annually. On occasions the Society may also make life insurance a loan condition. The Society will again accept cover provided by any major assurance provider.

National Counties believes in maintaining an ongoing relationship with its customers. This will involve the provision of annual certified/audited accounts or tenancy information during the course of the loan, and periodic site inspections of taken as security.

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