The Society provides commercial mortgages for the purchase of established businesses (often referred to as 'going-concerns').

We lend to purchasers of established businesses that have a proven, profitable track record. The purchasers must be suitably qualified and experienced in that business. We will need the last three years' audited or certified accounts for the business to be purchased.

If only two years of finalised accounts are available we may still decide to lend but subject to a higher rate of interest. The rate will be reviewed once the third year of accounts are available.

All loans are subject to status and secured against business property. Sometimes, other additional security may be required.

(We regret that we are unable to lend funds to finance the start up of a new business.)

We offer:

  • Attractive interest rates linked to LIBOR,* Bank Base Rate or fixed rates
  • A flexible, offset and green mortgage
  • Fast award-winning service and turn around
  • Up to 75% loan to value for business property, such as hotels, guest houses, nursing homes, and care homes
  • Experienced lending team
  • No compulsory insurance arrangements

* LIBOR stands for London Inter Bank Offer Rate. It's the rate of interest at which banks offer to lend money to one another in the City of London.

I am a nurse and would like to buy a care home. Will N&P lend me the money to do so?

We would consider such a proposition.

We do require applicants to have suitable experience when purchasing a going concern business such as a care home. In addition to nursing experience, we would need evidence that you or perhaps a partner, have a suitable background in running a business. Each application is assessed on an individual basis and we meet most of the people we lend to in order to discuss and assess their particular experience and circumstances.

I am buying a business. Will N&P lend me money based on the value of the business as a going concern rather than just the value of the premises?

It all depends on the type of business you are buying.

When the purchase is of a business such as a hotel, childrens day nursery or care home, we can lend up to 75% of the trading value of the business. For public houses and restaurants we can lend up to 70% of the trading value of the business but for re-mortgages only. Give us a call on 01733 372378 to discuss your particular case, or we can call you back

View All Frequently Asked Questions

BY PHONE

  • Call our dedicated Commercial Mortgages team on 01733 372 378.

IN PERSON

  •  Drop into any branch - you'll get all the help you need there.

BY EMAIL

  • Scanned copies of your application documents can be sent to our dedicated Commercial Team at lending.team@nandp.co.uk

BY POST

  • Write to us at:

Norwich and Peterborough Building Society
Commercial Lending Department
Principal Office
Peterborough Business Park
Lynch Wood
Peterborough
PE2 6WZ

PAPERWORK WE'LL NEED TO SEE

  • Fully completed application form.
  • The last three years' audited or certified accounts of the subject business and any other business that you run. (If only two years' accounts are available we will consider your application but you may have to pay a higher rate).
  • Your last six months' business and personal bank statements.
  • Details of your background and experience.

Download Application form.

HOW MUCH? HOW LONG?

  • We offer Commercial Mortgages from 5 to 25 years
  • You can borrow any amount from £75,000 up to £10,000,000
  • The maximum LTV we work to is usually up to 75% for owner-occupier businesses
  • Your interest rates will be linked to the Bank Base Rate, LIBOR* or a range of fixed rates

WHAT ELSE DO YOU GET FROM N&P?

  • We offer Green Mortgages for energy efficient buildings or environmentally friendly companies
  • Reduced accounting information - minimum 2 years' accounts
  • Flexible - combine mortgage with an overdraft facility
  • Offset - use your business credit balances to offset up to 30% of the mortgage
  • Experienced in Pension Scheme & Self Build lending
  • Lending Managers visit all customers with loan amounts over £100,000
  • Ability to repay up to 50% of balance of loan from year 1 without incurring early repayment charges, with variable products
  • Fast, efficient and personal service from application through to completion
  • VAT bridging facility available for a period of 12 weeks on an interest only basis

* LIBOR stands for London Inter Bank Offer Rate. It's the rate of interest at which banks offer to lend money to one another in the City of London.

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