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Commercial Mortgages

Finance for businesses normally secured on property or land.

Are you looking for a mortgage to purchase or expand your business?

Are you looking to re-mortgage your current commercial property?

• Loan to value up to 85% even on self-certification
• Higher loan to values with additional security or for sitting tenants
• Credit problems accepted
• No proof of income required
• Interest only option
• Development finance available

Arranging a commercial mortgage secured on a property is not so different from arranging a residential mortgage yet client’s are much less likely to shop around and more likely to trust their bank to support them. We can help to extend that search by sifting through the large number of commercial providers to secure the best terms.

What sort of rates can we expect?

This will depend on factors such as your financial position, your credit core, your circumstances and the sector in which you operate. Rates could be anything from 0.5% above base and competitive fixes are normally available. 

What information will a lender require?

Information that may be important will include:

• Two years accounts and management accounts.
• An asset and liability statement for each applicant.
• Brief C.V. for each applicant.
• Business plan.
• Six months business bank statements.
• Projections for next 12 months.
• Details of any lease schedule if an investment property.

What happens if I cannot provide accounts etc?

There are non-status and self-certification lenders who will base their decision much more on the security offered by the property than anything else. Although their rates are a bit more expensive this does not have to be a long term strategy.

What sort of sectors can have commercial mortgages?

Mortgages are available for most sectors and property types including;

• Shops and retail premises
• Investment property
• Owner occupied businesses
• Leisure including hotels, pubs and restaurants
• Factories
• Offices
• Professional Practises
• Warehousing
• Farms
• Care homes

Non Status Commercial Mortgages - Commercial finance for businesses without accounts or with adverse credit.

Benefits of non-status commercial loans

• Income can be self-certified or make full use of add backs.
• Minimal paperwork and no interviews.
• Rates from 1.65% to 4.95% above Libor.
• Underwriting primarily property based.
• Very swift decisions and completions possible.
• Loans up to 85% LTV at £500000 and up to a maximum of £2m.
• Loans up to 90% of purchase price and 79% of open market value for sitting tenants looking to purchase.
• Foreign nationals accepted.
• Adverse credit acceptable.
• Interest only loans allowed for 3 years.
• 30 year repayment period allowed.

The above benefits are typically available but will vary.

Who might need it?

• New business start-ups.
• Would-be owner occupiers.
• Business turnaround solutions.
• Short Term Finance and debt consolidation.
• Working Capital raising.
• Property improvement.
• Business expansion.