Volume MMXXVI · Seven sector dossiers

UK commercial mortgages, by asset class.

Seven sector dossiers covering how UK commercial mortgage lenders actually price office, retail, industrial, mixed use, hospitality, healthcare and leisure right now. Each page covers the typical LTV range, the underwriting nuances unique to the sector, a worked example we have placed recently, and which lenders are active in the asset class this quarter.

Dossiers: 7
Rate range: 6.50% to 10.50%
Compiled by: Matt Lenzie
Publisher: CMB Finance Ltd
Updated: May 2026

Office

Office is the sector most lenders are quietly rationing.

LTV: 60% to 65%, peaking 70%
Rate range: 6.95% to 8.95%

Read the office dossier

Retail

Retail is the sector lenders read by use type, not by label.

LTV: 60% to 65%, peaking 70%
Rate range: 7.25% to 9.50%

Read the retail dossier

Industrial and Logistics

Industrial is the easiest sector on most lender panels right now.

LTV: 65% to 70%, peaking 75%
Rate range: 6.75% to 8.25%

Read the industrial and logistics dossier

Mixed Use

Mixed use, the classic shop with flat above, is one of the most common UK commercial property types and one of the most awkward to mortgage.

LTV: 70% to 75%, peaking 80%
Rate range: 6.50% to 8.50%

Read the mixed use dossier

Hospitality

Pubs, restaurants and hotels are underwritten on trade, not bricks.

LTV: 60% to 65%, peaking 70%
Rate range: 7.50% to 10.50%

Read the hospitality dossier

Healthcare

GP surgeries, dental practices, pharmacies and care homes all sit inside the healthcare label, but each gets its own underwriting from a small group of specialist healthcare lenders.

LTV: 75% to 80%, peaking 90%
Rate range: 6.50% to 8.50%

Read the healthcare dossier

Leisure

Gyms, nurseries and function venues are the awkward middle of UK commercial property finance.

LTV: 65% to 70%, peaking 75%
Rate range: 7.25% to 9.50%

Read the leisure dossier