A Commercial mortgage can be arranged for the purpose of purchasing or re-mortgaging a property for commercial or business use for businesses to trade from or alternatively where a property is purchased as a form of investment eg. as a commercial buy to let.
Commercial mortgages are provided by banks and other specialist financial institutions. They are generally a more complex type of lending compared to residential mortgages and require a higher level of expertise to successfully arrange.
Commercial Loan to Value (LTV) Ratio’s
The current typical LTV for a high street bank offering commercial mortgages is 65-70%, however there are higher LTV options available through Harris Begley via specialist banks with up to 75% on a standalone basis or 100% with additional security, if available.
Commercial Interest Rates
High Street banks are able to provide rates from 2.4% above the bank of England base rate, but the interest rates for commercial mortgages vary according to numerous factors including, but not limited to:
o Property Type
o Repayment Terms
o Loan Size
o Mortgage Type
o Credit Scoring
o Income Cover
Harris Begley Commercial Mortgages
Harris Begley has access to exclusive products which are not directly available on the high street. Our commercial broker has over 14 years experience and is able to negotiate bespoke terms and broker complex deals with the banks to arrange some of the best deals in the market.
To book your free, no obligation appointment, please contact Harris Begley on Tel 01736 366550 or email firstname.lastname@example.org
Commercial property examples:
Commercial mortgages are available for a wide variety of land and property types. The following list includes the typical property types which we can secure competitive rates for:-
o Restaurants and cafes
o Offices and office complexes
o Convenience stores
o Retail outlets
o Factories and warehouses
o Development Land
o HMO (houses in multiple occupancy)
o Nursing and care homes
o Industrial units
o Specialist buy to lets for flats under one freehold title
o Owner occupation commercial mortgages
o Investment purposes
o Residential portfolios and Individual buy to let
Your home may be repossessed if you do not keep up repayments on your mortgage.
The Financial Services Authority does not regulate commercial mortgages and some forms of buy to let mortgages.