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Concerns re Skipton BS Commercial Mortgage Commercial Finance, Latest Articles, Mortgage News, UK Property Forum for Buy to Let Landlords

We have a small office building in the home counties which was purchased with the help of al loan from the Skipton BS eight and a half year’s ago. Concerns re Skipton BS Commercial Mortgage

Times have not been kind to the commercial property market since 2008 and we have not been immune to that although we have never been late with a payment on the loan.

After a period of some months of vacancy we are just now managing to get the building relet albeit at a lower rent.

As a part of this process it is a normal requirement to send the new lease(s) to the lender for their approval and this we have duly done.

I strongly suspect that it is the lease approval process which has triggered the sending in of the valuers as Skipton will have spotted the lower rent.

Unfortunately, Skipton have a bit of a reputation and I am very concerned that they will use this as an opportunity to obtain a very low valuation and call in the loan.

Is there anyway that I can stop them doing this?

Has anybody else had experience of Skipton with this and if so how did it go?

Regards

Badger


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