Specialist commercial mortgage broker for firms in Milford Haven (Aberdaugleddau)

The town's economy has a long record of boom and slump, through shipbuilding, fishing, the railhead and the oil industry. Today the energy sector dominates: the waterway carries 25% of Britain's requirement for motor fuel, the port handled 53 million tonnes of shipping in 2008, and the LNG terminals at Waterston and South Hook followed outline planning consents granted in 2003 and 2004. In 2012 the waterway was declared an Enterprise Zone because of its importance to energy, while in 2014 the Milford Haven Refinery was converted into a storage and distribution facility with the loss of over 300 jobs.

For owner-occupiers that history matters in two ways. Contractors, marine engineers, fabricators and logistics firms serving the terminals need yards, stores and workshops, and lenders will fund them. But a valuer will also ask whether a specialised waterside building could be sold to another user, because the local economy has shifted before. A clean, flexible unit usually supports a better loan to value than a heavily adapted one. See our page on owner-occupier mortgages for how lenders assess the business itself.

The town has two main commercial centres: Charles Street in the historic grid between Hubberston Pill and Castle Pill, and the Havens Head Retail Park at the foot of the docks. Since 2017 the port authority has promoted the marina as Milford Waterway to encourage hotel, commercial and leisure development. That gives hospitality and retail businesses a reason to buy as well as industrial ones.

Hotels, pubs and restaurants are valued partly on trade, so indicative rates run at 7.0 to 9.0% a year, subject to status, accounts and valuation, compared with the standard owner-occupier band below.

Lenders active in owner-occupier lending usually advance 70 to 75% of the lower of price and valuation, with indicative rates of 6.0 to 7.5% a year, terms of 5 to 25 years and fees of 1 to 2%, subject to status, accounts and valuation. Land Transaction Tax replaces Stamp Duty Land Tax in Wales. Its non-residential bands, set by the Welsh Revenue Authority, are 0% up to £225,000, 1% from £225,001 to £250,000, 5% from £250,001 to £1,000,000 and 6% beyond (rates as at October 2026; check the current rates before you buy).

Illustrative example. A marine services company buys a workshop near the docks for £250,000. A 75% loan is £187,500, leaving a deposit of £62,500. Because Wales has a £225,000 nil-rate band, LTT is only £250, so the business needs about £62,750 before legal and valuation fees. Our stamp duty guide compares the four UK nations.

Pembrokeshire County Council decides planning in the town, and the lender's solicitor will check the lawful use of the building. The lender then takes a first legal charge registered at HM Land Registry, as anywhere in England and Wales. A company already owning its unit can refinance the same way, to release equity or move to better terms. Lending to a limited company for its premises is unregulated and outside the FCA's regulated mortgage perimeter; where a deal would be regulated, such as a sole trader or a property with a flat a close relative will live in, we refer it to an appropriately authorised firm. For the wider county see commercial mortgages in Pembrokeshire.