THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE COMMERCIAL MORTGAGES.
Business Mortgages Return to all services
If you own your own business you may well want to buy business premises rather than leasing them. You may own your premises outright and want to release some of the equity within it to help finance the development of your business. Or you may also wish to purchase an existing business.
In these scenarios you will require a business mortgage. To obtain a mortgage you will need to demonstrate to the lender that the business will make sufficient profits to meet the monthly loan payments.
Lenders in this market include high street banks as well as specialist lenders. High Street banks' rates can be very competitive. The “but” is they generally require a fairly low loan to value. This can be prohibitive for some businesses. If you have had any credit problems the High Street banks may also turn you away.
For businesses who do not fit the criteria of the High Street banks the specialist lenders may be able to assist. The interest rates they offer are likely to be higher, but they will accept higher loan to values. They can also be more open minded in assessing whether to approve a mortgage application.
It is worth bearing in mind if you do not have the deposit required for the purchase, some lenders will accept security on another property you own.
If you require a business mortgage we can help. We will research the options available to you, including those available through Dupree Commercial Finance Ltd., to find you a competitive deal.