Barclays Bank

Business Guide To Buying Premises

Small business owners considering buying commercial premises for the first time can take advantage of Barclays expertise thanks to a new guide launched today (January 5th 2004).

A Home For Your Business - A Barclays guide to buying a business property is part of a package of measures being introduced by Barclays in 2004 to help business owners to take advantage of the benefits of owning their own property.

The guide takes entrepreneurs on a step-by-step journey through every aspect of buying a premises from choosing the right property through to costing, arranging finance and finalising the deal.

In addition, any commercial mortgage applications which are received by Barclays between 5th January 2004 and 6th February 2004 will be entitled 6 months free buildings insurance up to the value of £300 once a mortgage has been agreed.

Alison Hopkins, Managing Director Small Business, Barclays says: “With attractive interest rates, flexible terms and optional repayment holidays, our commercial mortgages are already competitive. Adding free buildings insurance makes this an irresistible New Year package for business owners”

“Making the right decisions when buying a property is crucial when you are a small business owner and we are keen to share our expertise in commercial mortgages and innovative financing”, she adds.

A Home For Your Business - A Barclays guide to buying a business property and details of the free business insurance offer are available by calling 0800 515 462.

Notes to editors:For more details, please contact: Andrew Routledge, Business Banking PR Manager on 0207 699 4509 or Alistair Smith, Business Banking PR Manager on 0207 699 4505 Details of ‘Your buildings insurance paid for 6 months when you buy your business property’ offer: For mortgage applications received by Barclays between 5th January 2004 and 6th February 2004. To qualify, applicants must apply for either a Commercial Mortgage of at least £50,000 or a Commercial Mortgage Saver between 5th January and 6th February 2004. They must also hold their main business current account with Barclays and annual business turnover must not exceed £500,000. Whilst each loan application is judged on its own merits, the loans are secured on the property being purchased or improved, subject to a maximum of 80% of the property’s purchase price or valuation. Applicants have until 30th June 2004 to take up a mortgage offer, at which point we will pay the value of 6 months buildings insurance, provided by Marsh Ltd into their business current account. In the event that Marsh Ltd are unable to provide buildings insurance cover for the property, up to £300 will be provided towards suitable alternative buildings insurance cover.