Coronavirus COVID-19 Update!

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Commercial Mortgages and up to date changes due to the Coronavirus

We are open 7 days a week, with our finance specialists all working remotely from their homes.


The Coronavirus is making things difficult for the commercial mortgages market, which has resulted in:

  • Some lenders placing new lending on hold
  • A Reduction in maximum LTVs
  • Many property surveyors are not working, and those who are still working are often unable to carry out full valuations due to the current restrictions.

As a result, any commercial mortgage application requiring a full inspection would be unable to complete at this time.

For lower LTVs and wherever possible, we are able to utilise desktop or drive by valuations. Unfortunately, desktop valuations are unsuitable for borrowing at higher LTVs.

  • Lenders are continually reviewing the situation, they have the right to withdraw products or restrict their lending criteria! 


We have changed the way we do things to enable some applications to complete:

  • Electronically signing documents without the need for wet signatures
  • Meeting solicitors via Skype, facetime and teleconferencing


What is possible at the moment:

  • Commercial Mortgages - For borrowing up to 50% LTV, some lenders will consider using a drive by valuation. We can still begin applications for more borrowing at higher LTVs, with full valuations to follow later.
  • Buy To Let Mortgages – Desktop and drive by valuations accepted by some lenders up to 60% LTV. There are buy to let products up to 75% LTV but those over 60% may have to be put on hold until a full valuation can be carried out. There are buy to let fixed rate products at rates around 2% per annum available.
  • 2nd Charges/secured loans – Desktop and drive by valuations are accepted by some lenders. Some restrictions have been placed on self-employed borrowers and some other types of employment.


Where there are temporary difficulties in being able to complete, we can continue the application the moment life starts getting back to normal.