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Mortgage

What is Commercial Mortgage?

We can help you locate the finest commercial mortgage to match your needs, whether you’re looking to buy new land or property, or even refinance, or expand your existing buildings.
A commercial mortgage is a kind of loan for companies who seek to borrow money to buy or expand real estate or land for business purposes. Commercial mortgages are most commonly used by business owners who intend to acquire their own property, but they can also be used by investors who just want to purchase a property to lease to some other company or maybe a residential real estate developer/owner who wants to buy many homes and rent them to tenants.

How Do I Apply For A Business Mortgage?

Once you’ve determined your requirements or found the property you want to buy, contact the Asset Finance team and we’ll begin the action.
We’ll get some information from you about your company and the property, and we will consult our network of funders to locate the best bargain for you.
We will manage the applications with the funders and take care of all the specifics once we have discovered a suitable offer and you’ve agreed to the terms.

    Need help? Call us on +44 (0)1274 214834

    What is the difference between a commercial mortgage and a residential mortgage?

    The usage of a commercial property mortgage and a residential mortgage is the most apparent difference between the two. A residential mortgage is used to purchase a home, whereas a commercial mortgage is used to purchase business property.

    Rates of Interest

    Commercial mortgages typically have higher interest rates than residential mortgages because they pose a greater risk to lenders.

    Deposit

    While a residential mortgage can be secured with a 5-10% down payment, a commercial loan would typically require a substantially greater down payment, typically between 20 and 40% of the property’s value.

    Term

    Residential mortgages typically have significantly longer durations than commercial mortgages, with repayment periods ranging from 25 to 35 years, but commercial mortgages must be repaid over a shorter time period, with maturities ranging from 1 to 25 years, however, some lenders will cap them at 15 years.

    Commercial Mortgages Advantages:

    • Your commercial mortgage interest is tax deductible.
    • If the value of your home rises, so might the value of your money.
    • You can rent out the property to boost your income.
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