FOR BUSINESS
If you’re a business owner looking to purchase a property or land for commercial purposes, we can help.
We’ll support you in raising finance for a commercial property or business asset from a range of lenders. This type of financing is tailored to your specific businesses circumstances, and so the criteria for lending will generally vary from lender to lender.
What is a Commercial Mortgage?
The key difference between a commercial and a residential mortgage is the property. The loan is secured on a commercial property or land which is intended for business use. Like residential mortgages you will have to repay the capital and interest over an agreed term.
A business mortgage typically lasts between 3 to 25 years, with a 70-75% mortgage. If this is an investment, the amount you can borrow will be determined by the rental income generated by the investment, but this will not exceed 65% of the purchase price. If you are buying a business which includes goodwill, stock, etc, then the amount available will be reduced further.
We can help arrange finance for a commercial property or business asset, whether you’re looking to secure a new building or release equity from your existing premises. A commercial mortgage can be used for:
- Buying a property
- Property development
- Refurbishing and owner-occupied business premises
- Buying cars machinery and other equipment
What are the pros and cons of commercial mortgages?
Pros
- Any interest on your commercial mortgage is tax-deductible
- If your property’s value increases, your capital could also increase
Cons
- You’ll need a larger deposit: most lenders require a deposit of 30%
- The fees will be higher than a residential mortgage, which include arrangement fees, legal fees and a commercial-broker’s fee
- It’ll take longer on average than a residential mortgage, as there will be more checks involved with your company’s finances etc
Asset Finance
Asset finance allows you, as a business, to acquire business-critical assets or replacing aging equipment without needing to raise a large amount of working capital or putting any additional pressure on cashflow.
There are specialist assets that might be included, such as healthcare, aviation, marine, etc. We can help with all of these.
Why choose us?
We are an independent mortgage adviser with years of experience in securing commercial mortgages for a wide range of businesses. We listen to your specific needs before approaching lenders to secure the best deal we can for your business.
Commercial mortgages are more complicated than residential mortgages and are tailored to meet the specific needs of your business. That’s why we take time to understand your business goals and find the most suitable finance options to allow you to meet your long-term objectives.
Remember your property may be repossessed if you do not keep up repayments on your mortgage. Mortgage products can change or be withdrawn at any time and are subject to underwriting.
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