Commercial Mortgages
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Why would you need a commercial loan / commercial mortgage and how easy is it to obtain one? How do I apply for a commercial loan / mortgage and what's involved?
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Just a few of the questions we can answer for you.
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For similar reasons to why an individual might look to take out a mortgage, so do businesses.
Commercial mortgages are often an economical way for a business, or an individual, to raise funds to buy or build a commercial property - either to operate their business from or to rent out as a form of investment. It’s not uncommon either for someone with a Self Invested Personal Pension scheme (SIPP) or Small Self Administered Scheme (SSAS) to use the pension fund to buy property.
Here at White Mortgage Ltd, we can help you find the right commercial loan for your needs.
Unlike Residential mortgages which, by comparison, are ‘off the shelf’ products, Commercial mortgages are much more bespoke and you’ll typically have far less choice. This is one reason why, with all Lenders having varying appetites for certain types of commercial lending, it’s vital you get independent advice on the right mortgage for your circumstances.
The type of business applying, the use of the property and rental income it produces will all have bearing upon who will & who won’t consider lending on a commercial basis. The same aspects will also dictate maximum loan to value levels and the rate of interest you’re likely to pay.
Although some fixed rate deals are available in certain circumstances, most commercial borrowing tends to be on a tracker basis and is typically linked to the Bank of England rate. Usually expressed as X% above Base, this 'X' is the Bank's margin and whilst this margin can and will be set based upon how your application is assessed, the underlying Bank of England rate can rise & fall over time, with changes in the economy.
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Using both the Commercial arms of High Street Banks and specialist Lenders, we can put together your case and present this for you in the best possible light. Our aim will always be to find you the most appropriate lender and a competitive rate for your borrowing.
