Expert Commercial Mortgage Advice & Best Deals For You
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What is a commercial mortgage?
Commercial mortgages are loans secured using your current business premises as security, in order to finance the acquisition of premises or land.Typically they might be used as capital to expand a business, sometimes through land or business premises purchase, but they can also even be used to finance property development or purchase business premises to let.
Commercial mortgages allow businesses to borrow far more than they would be able to under a commercial loan, due in part to the fact the mortgage would be on a secured basis. Typically the length of a commercial mortgage would be between 10-25 years and the minimum amount lent would be around £25,000.
What types of commercial mortgage are there?
Commercial mortgages largely consist of two types: owner-occupier mortgages and commercial investment mortgages. Both types require a deposit much higher than a residential loan, in the region of 25-30%.
An owner-occupier mortgage can be used to purchase a property for that business to operate from, whereas a commercial investment mortgage is typically used for the purchase of a commercial property that is intended as an investment and to be rented out.
A specialist mortgage advisor will be able to get you access to the best rates and deals to suit your own business circumstances. We can introduce you to brokers who provide top commercial mortgage advice and have access to a huge network of lenders with the best commercial mortgage deals for businesses of varying size and needs.
How does a commercial mortgage work?
A commercial mortgage works in a similar way to a standard residential mortgage with the borrowing paid back in regular instalments over a set period of time, usually up to 25 years, although 40-year terms are not unheard of. Most lenders will let a business borrow up to 70% of the property’s value, though we could help you if you need a loan to value greater than this.
Typically, businesses need to provide a deposit, although another property could potentially be used as security. A commercial mortgage can be taken out on a repayment basis, whereby the loans and interest are paid off at set intervals, or the mortgage could be on an interest-only basis, with the interest needing to be paid off each month, and the capital debt paid at the end of the loan period.
The loan rates you might be offered are determined by a number of factors based on the perceived level of risk in lending to you. Lenders will look at your current and past business performance as well as your credit history and type of property you are looking to buy. Having a good deposit can help us secure you the best deals.
How to get a mortgage on a commercial property
Commercial mortgages are bespoke and are best handled on your behalf by a specialist advisor. We can introduce you to brokers who have access to a huge network of lenders, so you’ll get the best deal most suited to you and your company’s circumstances.
In support of a commercial mortgage application you’ll need to provide a raft of documentation including bank statements and trading accounts for the last 3 years in order to prove your ability to afford the mortgage. A business plan may be required for some small or relatively new businesses.
By engaging the services of a commercial mortgage advisor will ensure you are well prepared to make your application and will have the best chance of successfully securing the funds you require. We can help put you in touch with brokers who have access to mortgage rates you may not be offered by high street lenders.
Why use us?
If you are considering a commercial mortgage, we’ll put you in touch free-of-charge with a specialist mortgage advisor who will help you find the best advice and commercial mortgage deals as well as increase your chances of being approved.
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We’ll put you in touch with one of our qualified mortgage advisors who will discuss your options and answer your questions.
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With the expert advice you’ll be able to find the best mortgage deal for your particular circumstances.
Meet our experts
Michael Buckley
Director / Mortgage & Protection Advisor
Aidan Comerford
Sales Manager
Luke Grosse
Mortgage & Protection Advisor
Chris Kenny
Mortgage & Protection Advisor
We’re ready when you are.
We know it’s a big decision, but when you’re ready to find your mortgage, we’ll be there to help you. It’s important that you get the right advice, and that where we come in, as we’ll help introduce you to a broker who specialises in advising and matching customers to the right deals for their circumstances.
We work with experts who know mortgages inside out and are well connected so that they are able to get the best possible deals for you. All this can be done without you even needing to meet face-to-face. All the advisors we refer you to are qualified and experienced and have dealt with every kind of mortgage.
We will introduce you to a broker free of charge and they’ll be able to advise you and get you a decision in principle, or written estimate from the mortgage lender, which will help prove to estate agents and vendors that you’re a serious buyer.
See what others think ...
Steven Brunning
Aidan and Kayleigh were absolutely brilliant. They were very pro-active throughout and gave us confidence that they were identifying the most appropriate products on the market for our needs! We felt very reassured and are grateful for them helping the transaction to run as smoothly as possible.
Steve and Sharon
Me and my wife were very happy with the level of service Chris and Nioni provided us whilst buying our new home. Really felt like they had our best interests at heart and were with us every step of the way. They are always quick to respond, very friendly and always there to offer advice when you need it…….
Thank you Chris and Nioni.
Zara Akhtar
From the very start Michael, who I initially spoke with, was the extremely helpful and professional. I was struggling to find a lender due to my personal circumstances. Michael was very open and honest with me and actually managed to find a lender who would consider my circumstances. This is something other brokers were unable to do!
I started my mortgage journey thinking I could never get a mortgage, well if I did I would be a long time due to a few mistakes I made back when I was a student. I got speaking to Luke Grosse. After months of searching things couldn’t of gone smoother on his end, he got me a mortgage offer. Easy to talk to, straight forward, explained everything in detail while being patient. Couldn’t recommend this company and Luke in particular any higher as my experience with them was fantastic. Finally completed on my purchase today and now I am a home owner with my fiancé.
This being our first property purchase, we were very unfamiliar with the how things worked. With the support and help by these two fine ladies, we were able to steer in the right direction. We had constant communication throughout the process and communication was key in these purchase too. I definitely speak highly and recommend others the mortgage advisor as they were always willing to help and support us in any way possible.
Let us find your perfect mortgage.
We’ll put you in touch with impartial advice from a qualified advisor to help you get the best mortgage deals available to you.