Why use a Commercial Mortgage Broker?
Commercial mortgages work a bit like normal mortgages but enable you to buy one or more properties to either run your business from, rent or as an investment.
Depending on your business, you could be offered quotes for interest-only or repayment mortgages. Loans are secured against the property, and you can get a loan to value of up to 85% depending upon the property type. This means you need a deposit or equity of at least 15% and there are different repayment models which can be repaid up to 30 years, again dependent on the property type.
Lenders have different lending criteria and each lender will decide as a minimum whether to accept your mortgage application on
- Your company’s income – are your profits sufficient to meet the repayments
- Your credit record
- Your personal finances
As Commercial Mortgage Brokers we will look at your business’ finances to determine which lenders may offer you a mortgage.
Are commercial mortgages regulated?
No, unlike other mortgages, commercial mortgages are not regulated by the Financial Conduct Authority
Commercial mortgages typically include:
- Commercial properties
- Warehouses and factories
- Shops and retail premises
- Office buildings
- Pubs and hotels
- Residential buy to let and investment properties (some residential properties may be regulated, we work closely with several trusted non-commercial mortgage brokers and will refer you to them if this is the case)
- Farms and land
- Professional practices (e.g. dental and medical)
Who can get a commercial mortgage?
You can get a commercial mortgage in your own name or through a:
- Limited Company
- Limited Liability Partnership (LLP)
- SPV (Special Purpose Vehicle)
- SIPP/SSAS Trust
- Offshore company