Commercial Mortgages Marylebone
Marylebone runs on two engines. W1G holds the Harley Street and Wimpole Street private medical cluster, the densest concentration of consulting practice in the country. W1U and W1H hold Marylebone High Street, Baker Street, Wigmore Street and Portman Square, a genuine retail, restaurant and office market in their own right. We arrange commercial mortgages across all three postcode districts on consulting suites, shops, restaurants, office buildings and mixed titles.
A commercial mortgage in Marylebone is long-term secured debt against business premises, underwritten on rental cover, trading profit or EBITDA depending on how the property is held. Commercial Mortgages London is a specialist commercial mortgage broker arranging owner-occupier, investment, semi-commercial and trading-business mortgages across Marylebone.
Postcode districts: W1G, W1H, W1U.
13 commercial-relevant planning applications live on the Westminster register.
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Harley Street medicine and the Marylebone High Street retail market
The medical half of Marylebone is a property market unlike any other in London. Consulting rooms in W1G are commercial property in law and clinical premises in practice, and the difference shows up in the planning file rather than in the valuation report. One live application on the Westminster register asks for the basement, ground, first and second floors of 30B Wimpole Street to be used for medical purposes under Class E(e) for a temporary period of twenty years. That is the shape of the market in a single document: long-horizon medical use, floor by floor, inside period townhouse stock. For a lender it raises a specific question, which is what the building is worth if the medical use ever stops.
The retail and office half is more conventional and, in loan volume, larger. Marylebone High Street and the streets around it hold independent and brand retail, Wigmore Street carries an established restaurant frontage, Baker Street holds substantial office stock including buildings currently going through upward extension and refurbishment, and Portman Square anchors the western end with larger institutional-grade assets. New Quebec Street and Blandford Street add small-unit retail where shopfront alterations and unit amalgamations are routine. The result is a district where a lender can be presented with a clinic, a restaurant, a shop and an office building inside four hundred metres, and each one prices differently.
HM Land Registry recorded 121 open-market residential sales across W1G, W1H and W1U in the twelve months to 29 May 2026, at a median of £1,200,000, down 23.8% on the year. Flats set the tone at £1,150,000, with terraced stock at £2,400,000 and semi-detached at £3,650,000. Eight of the 121 sales were new build, at a 230% premium. Treat that 23.8% fall with care rather than alarm: on a 121-sale sample a change in the mix of what happened to trade moves the median hard, and this is residential data in a district that is substantially commercial. It tells us valuers are being cautious on the residential element of mixed titles here. It is not a commercial yield signal.
On funding, Marylebone splits three ways. A practice or clinic buying its own consulting building is an owner-occupier case on EBITDA cover of 1.3 to 1.5 times, up to 75% on bricks, at 6.0 to 7.5%. An investor buying consulting suites, shops or offices let to occupiers is an investment case on interest cover stressed at 140 to 160%, at 65 to 75% LTV and 6.5 to 8.5%. Buildings with commercial at street level and flats above take the semi-commercial route on blended cover of around 145% at up to 75% and 6.5 to 8.5%. Restaurant and hospitality operators buying their own site are underwritten on accounts at 60 to 70% and 7.0 to 9.0%.
Medical, office and retail files logged in W1G, W1H and W1U
Westminster City Council publishes a machine-readable planning register, so this page carries real references rather than an apology. When we read it on 26 July 2026 it held 13 commercial-relevant applications across these three postcode districts. The five below map the district precisely: a twenty-year medical use application on Wimpole Street, a two-storey upward office extension and refurbishment on Baker Street, an amalgamation of two retail units on New Quebec Street, a restaurant awning on Wigmore Street, and an amendment to a consented partial demolition and reconstruction scheme at Portman Square. We use files like these as evidence of occupier demand in a credit paper. A lender assessing relet risk on a Harley Street consulting building takes an active twenty-year medical application on the next street more seriously than any market commentary.
Consulting rooms, shops and offices we fund in Marylebone
Harley Street and Wimpole Street consulting suites
Class E(e) medical floors in period townhouse stock, funded as owner-occupier at 6.0 to 7.5% pa or as let investment at 6.5 to 8.5% pa.
Private clinics and day-surgery premises
Specialist medical use where the lender assesses alternative use value alongside the clinical fit-out.
Marylebone High Street retail
Independent and brand shops valued on covenant strength and unexpired term, interest cover at 140 to 160%.
Wigmore Street restaurant and cafe units
Let investments, or operator purchases underwritten on trading accounts at 60 to 70% LTV.
Baker Street and Portman Square offices
Larger institutional-grade office assets, several currently under refurbishment and upward extension.
Commercial with residential above
Semi-commercial titles on blended cover near 145%, LTV to 75% through specialist desks.
Mortgage routes for Harley Street and Marylebone premises
A practice buying the building it consults from uses an owner-occupier commercial mortgage on EBITDA cover at 6.0 to 7.5%. An investor buying let consulting suites, shops or offices uses a commercial investment mortgage on interest cover at 6.5 to 8.5%. Buildings with flats above a commercial ground floor go through semi-commercial at blended cover. Restaurant operators buying their own site take a trading business mortgage at 7.0 to 9.0%. Owners needing capital behind a cheap existing facility use a second charge at 8.5 to 11.0%, and maturing facilities reprice through a commercial remortgage at 6.0 to 8.0%. The products on this page are unregulated commercial lending, so they sit outside the FCA's regulated mortgage perimeter and we hold no FCA authorisation.
Owner-occupier
Practices and firms buying their own building. EBITDA cover 1.3 to 1.5x, LTV to 75%, 6.0 to 7.5% pa.
Commercial investment
Let consulting suites, offices and shops, ICR 140 to 160%, LTV 65 to 75%, 6.5 to 8.5% pa.
Semi-commercial
Commercial at ground with residential above, blended cover near 145%, LTV to 75%, 6.5 to 8.5% pa.
Second charge
Capital raised behind an existing first charge without disturbing it, 8.5 to 11.0% pa.
Commercial remortgage
Maturing facilities repriced against current cover, 6.0 to 8.0% pa.
Which lenders understand the Harley Street medical cluster
Medical premises need a lender that has funded them before, because the credit question is alternative use rather than covenant. Shawbrook, InterBay Commercial, Allica, Cambridge and Counties and Hampshire Trust all write consulting and clinical property regularly and are the first calls we make. NatWest, Lloyds, Barclays and Santander compete hard on the retail and office side of the district at 60 to 65% LTV and the bottom of the 6.5 to 8.5% band, and their healthcare teams will look at established practices with strong accounts. Cynergy Bank, LendInvest and Together fund mixed titles and repositioning. Handelsbanken and OakNorth take relationship-led cases on larger buildings. Wigmore Street hospitality routes to the trading-business desks at 7.0 to 9.0%.
Property types we finance in Marylebone
Asset classes most active in Marylebone, each linked to the dedicated finance structure, lender appetite and typical terms for that property type.
Marylebone commercial mortgage rates, fees and deposit
The commercial mortgage rates we are placing in Marylebone at mid-2026 sit at 6.0 to 7.5% pa for the dominant local profile, which here is medical and dental practice freeholds, which lenders treat as strong covenants. Expect loan to value of up to 75%, which puts the deposit or retained equity at roughly a quarter to a third of the value of the property. Owner-occupied business borrowing prices from 6.0 to 7.5% pa, commercial investment from 6.5 to 8.5% pa, and trading businesses from 7.0 to 9.0% pa. A commercial remortgage on an asset you already hold in W1G, W1H, W1U runs 6.0 to 8.0% pa.
Costs beyond the rate are where Marylebone deals are won or lost. Arrangement fees run 1.0 to 2.0% of the facility. Valuation fees start around £1,500 on a single unit and reach £8,000 or more on a multi-let London building, and the RICS Red Book valuation is the critical path on almost every case, so we instruct it in week one. Legal costs run £4,000 to £15,000. Stamp duty land tax applies at the non-residential rates. Check early repayment charges before you fix, because a five-year fix broken in year two is rarely the cheapest way to repay. Local pricing context: the median transaction in W1G, W1H, W1U postcode districts is £1,200,000, which is residential data we use only as a temperature gauge for the surrounding market.
Bridging finance in Marylebone, and when it is the right answer
Not every Marylebone purchase fits a term facility on day one. An auction lot, a vacant unit that needs letting before a lender will price it, or a change-of-use scheme awaiting consent all point at commercial bridging first. Bridging loans run 8.5 to 11.0% pa, or 0.70 to 0.95% per month, over three to twenty-four months, and exit onto a commercial mortgage once the asset is income-producing. We only recommend bridging finance where the exit is genuinely identified and underwritten, because an unplanned bridge is the most expensive money in commercial finance. If the term lender will take the deal now, we will tell you to skip the bridge.
Which Marylebone commercial mortgage lenders to approach
There is no single best lender for Marylebone commercial property, only the right lender for this building on this week's credit appetite. High-street commercial lenders price keenest on prime business: Lloyds, NatWest, Barclays and Santander all compete where the covenant is strong. Challenger lenders such as Allica, Aldermore, Cambridge and Counties, OakNorth and Paragon take most of the SME and mid-market finance in W1G, W1H, W1U. Specialist lenders, Shawbrook, InterBay Commercial, LendInvest, Cynergy Bank, Together and Hampshire Trust, cover the semi-commercial, multi-let and shorter-lease commercial finance the high street declines.
Comparing those finance options properly is the work. Most brokers send a deal to two lenders they know. We benchmark it across the panel, because the difference between the third-best and the best quote on a Marylebone commercial property is usually worth more than every fee in the transaction combined. We arrange commercial mortgages, commercial remortgages, portfolio facilities, second charges and bridging loans. We do not arrange unsecured business loans, and we do not arrange buy-to-let mortgages on residential property, so if that is what your deal needs we will say so and point you elsewhere rather than waste a month finding out.
On eligibility, the property finance question we are asked most in Marylebone is what a lender needs before it will commit. For owner-occupied business, two years of filed accounts is the usual minimum, though twelve to eighteen months places comfortably in well-understood sectors. For investment properties the eligibility test is about the tenant, the lease and the cover ratio rather than about you personally. Clean credit for the company and its directors matters throughout, and a full inspection rather than a desktop valuation is worth insisting on, because a thin report can cost five to ten percentage points of LTV. Send us the property market context you already have, the lease or the accounts, and we will tell you which lenders will look at it before you spend anything.
Live commercial planning in Marylebone
13 commercial-relevant applications sit on the register for this area. Each one is a building changing use, changing hands or changing size, and most of them need finance at some point in that process. Read on 2026-07-26.
- 26/03372/NMA
Ground Floor Seymour Leisure Centre Seymour Place London W1H 5TJ
Amendments to planning permission dated 6th February 2024 (RN:23/07813/COFUL) for: 'Variation of condition 1 of planning permission dated 17 July 2023 (RN:23/02017/COFUL) for the Refurbishment and upgrade of the Seymour Centre to provide leisure, swimming pool, library, flexible
W1H 5TJView on portal → - 26/03313/FULL
77 Wigmore Street London W1U 1QE
Installation of one additional retractable fabric awning to the existing restaurant shopfront.
W1U 1QEView on portal → - 26/03135/FULL
30B Wimpole Street London W1G 8YB
Use of Basement, Ground, First and Second Floors for Medical Purposes (Use Class E (e)) for a temporary period of 20 years.
W1G 8YBView on portal → - 26/04154/NMA
43 - 45 Portman Square London W1H 6LY
Amendments to planning permission dated 22 April 2026 (RN: 25/06153/FULL) for the variation of Condition 1 of planning permission dated 7th April 2025 (RN: 24/04987/FULL) for, 'Partial demolition of the existing roof and removal of plant equipment; construction of a roof extensio
W1H 6LYView on portal → - 26/03932/FULL
41 - 43 Blandford Street London W1U 7HE
Alterations to the shopfront.
W1U 7HEView on portal → - 26/03854/FULL
11 Baker Street London W1U 3AH
Development and refurbishment of the existing office (Class E) building comprising the replacement of level 07; a two storey upward office extension plus roof terrace and ancillary function room; installation of plant equipment at roof level; facade replacement; re-alignment of t
W1U 3AHView on portal →
Source: the Westminster Public Access planning register, filtered for Class E, B2 and B8 uses, change of use into commercial, and trading-business consents. Planning activity is a market signal, not a measure of commercial lending volume.
Marylebone sold-price data
Live HM Land Registry transaction data for the Marylebone local authority area. Use this as market evidence when appraising your scheme or testing GDV assumptions.
Median price
£1.20M
-23.8% YoY
Transactions (12m)
121
Completed sales
New-build share
6.6%
8 new-build sales
New-build premium
+230.0%
vs existing stock
Median price by property type
Detached
£1.93M
Semi-detached
£3.65M
Terraced
£2.40M
Flat / Apartment
£1.15M
Recent transactions
| Date | Postcode | Address | Type | Price |
|---|---|---|---|---|
| 18 May 2026 | W1U 5BN | 61, LUXBOROUGH TOWER, LUXBOROUGH STREET | Flat / Apartment | £685K |
| 8 May 2026 | W1H 5HQ | FLAT 6, 14 - 15, MOLYNEUX STREET | Flat / Apartment | £570K |
| 5 May 2026 | W1U 6BW | 209, BICKENHALL MANSIONS, BICKENHALL STR… | Flat / Apartment | £1.30M |
| 29 Apr 2026 | W1H 1AD | 7, TARRANT PLACE | Terraced | £1.55M |
| 27 Mar 2026 | W1U 6LT | FLAT 5, 43A, CHILTERN STREET | Flat / Apartment | £1.18M |
| 27 Mar 2026 | W1H 1NN | 2, 114, SEYMOUR PLACE | Flat / Apartment | £375K |
| 24 Mar 2026 | W1H 2EP | FLAT 10, GREENHAVEN COURT, 1A, MONTAGU P… | Flat / Apartment | £1.35M |
| 23 Mar 2026 | W1U 6LB | 16, MONTAGU MANSIONS | Flat / Apartment | £650K |
Source: HM Land Registry Price Paid Data, W1G, W1H, W1U postcode districts. Updated 29 May 2026. Residential transactions, PPD category A. Used as a market-temperature gauge for the surrounding area, not as a measure of commercial transaction volume.
Marylebone commercial mortgage FAQs
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