Our team of finance experts can provide industry-leading advice on commercial mortgages to suit a range of different scenarios. With a commercial mortgage, you’re safe in the knowledge that there will be no sudden rent increases and if you’re on a fixed rate mortgage you know what you will be paying month in, month out. If the value of your property increases, the ‘equity’ means your business capital will increase.
Repayment methods are similar to those in the residential market although commercial mortgage interest rates tend to be slightly higher as there’s more risk attached for the lender. The higher the deposit, the lower the risk and lower the interest rate.
There are sometimes additional costs in addition to the standard mortgage arrangement fees so it’s best to speak to our commercial mortgage experts via a free consultation to get a handle on exactly how to apply and what might be in store.
Sometimes taking out a conventional commercial mortgage is not always a feasible way of financing a property. This is particularly relevant in the case of a new building development or an ambitious refurbishment project. With a standard mortgage, you will only be able to borrow a percentage of the property’s current value, rather than what it may be worth in the future. A property development loan might be better suited for you – this takes into account the completed value of the project and advance you the money based on this figure. Once the development is completed and sold, the development loan can be paid off.