Commercial lending products

National Counties currently offers four different commercial mortgage products.

Standard Variable

• Interest is calculated on the daily balance and charged monthly at a margin over Bank Base rate.
• Interest rates are changed on the 25th of the month following the month in which the Bank of England change Bank Base.
• Flexible repayment (capital and interest) and interest only options, subject to underwriting.
• If the loan is repaid in full, or more than 10% of the original advance is repaid in any one year, within the first five years, an early repayment charge may be payable.
• Repaid capital cannot be redrawn.

Fixed

• Interest is calculated on the daily balance and charged monthly.
• The interest rate can be fixed for two, three or five years. At the end of the fixed period interest is paid at a margin over Bank Base rate.
• Flexible repayment (capital and interest) and interest only options, subject to underwriting.
• If the loan is repaid in full, or more than 10% of the original advance is repaid in any one year, within the fixed period an early repayment charge may be payable. A fixed rate break fee may also be payable.
• Repaid capital cannot be redrawn.
• Limited to loans of £1m +

Flexiloan

• Interest is calculated on the daily balance and charged monthly at a margin over Bank of England Base rate.
• Interest rates are changed on the 25th of the month following the month in which Bank of England change their Base Rate.
• Flexible repayment (capital and interest) and interest only options, subject to underwriting.
• The initial advance agreed can be drawn down as required by the applicant, subject to a minimum initial drawing of £100,000 and subsequent drawdown of £25,000.
• There are no early repayment charges on overpaid capital. Overpaid capital can be redrawn.
• A premium of 0.20% above our agreed margin will be charged.
• If the loan is repaid in full, or more than 10%of the original advance is repaid in any one year, within the first five years, an early repayment charge is payable. 

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