Commercial Mortgage - Independent Mortgage Broker Advice and Search
Commercial Mortgage
Business and Commercial Mortgages and Borrowing
Quite simply, as well as a person taking out a mortgage so can a business.
Even a pension fund can take out a mortgage.
If you intend to borrow money to purchase commercial premises or other property that you intend to use for commercial reasons (with the exception of buy to let property) you will need to establish a commercial mortgage.
Commercial mortgages are commonly available from many lenders although there are specialist lenders and special lending divisions for larger lenders that work in this sector rather than the normal residential lenders.
Normally, for commercial mortgages there is a minimum deposit of around 30% of the value of a property.
For commercial mortgages there are also arrangement fees of anything from 0.5% upto 2% depending upon the risk involved.
They are normally repayment/capital & interest type commercial mortgages and have shorter terms. Interest rates are normally standard variable rates and quoted as percentages above Bank of England base rates.
For example, commercial loan of 1.75% above base over 5 years.
Many business owners use their pension funds to purchase commercial property. Find out more.
Commercial Mortgage Request mortgage advice or complete our simple mortgage search form.
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