Commercial Mortgages
We arrange commercial and domestic/residential mortgages.

Please bear in mind that, as a result of the economic downturn and consequent drop in property prices, the amount you can borrow is no longer simply a % of the property value - it is determined by the mortgage company’s assessment of your ability to pay the monthly instalments.

So for a residential mortgage, the lender wants evidence of your net income, for commercial mortgages they want to assess the viability of the borrower and the cash flow of the business /premises being purchased.  

For commercial mortgages we have two sources of funds - privately owned finance houses and Banks.

The Banks want detailed business plans, take time to decide, really only consider freehold (not leasehold) premises, and advance (but at good rates of interest) no more than 70% of the valuation, often only 50%, leaving you to find the balance. This we can sometimes provide by re-mortgaging the applicant’s home.

Private lenders will consider both freehold and leasehold, move a lot more quickly and can advance up to 100% of the valuation but at higher interest rates.

For retail businesses in a hurry we often use both sources - a private lender to start with, to get the deal done quickly and with minimum hassle, and after 18 months or so we aim to convert the mortgage to a lower cost Bank mortgage.