Here at Vickers Young we are able to assist our clients with a range of Commercial Mortgage Options. These will let business owners borrow money required to buy property or land for their business.
Commercial mortgages can also be used by Portfolio Landlord to purchase multiple properties to rent out to tenants.
Commercial mortgages typically come with higher interest rates as they are considered a higher risk product by lenders. However Commercial Mortgages do tend to be cheaper than Standard Business Loans as the loans is secured against the property.
In considering whether to lend a lender will carry out similar checks to a normal mortgage application such as affordability and the financial health of the applicant or if applicable the company. This would involve a business credit check. The business will also need to be seen as profitable or have a strong business plan for future growth.
Commercial cases do come with a charge as the work and research required dealing with these cases is significant. Your broker can discuss this further with you.
What sort of cases can we deal with?
High Street to Specialist/Niche
Owner/Occupied (No Arrangement fees)
Little or no experience
Up to 80% Loan to Value
Valuation conducted “off market”
Loans from £25k upwards