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Taking out a commercial mortgage is one way of maximising your business finance. Property can be a significant cost for many businesses so it is important to manage that investment wisely.

In these current market situation getting mortgages for commercial purposes has really become difficult – firstly because of the low business turnover and secondly due to stringent measure set in practise after recession hit us hard in recent years. However, a successful business despite all odds can quickly outgrow and would need bigger premises. If that happens, and you want to move on from or expand your current premises, you may need a commercial mortgage.

Commercial mortgages are not regulated by the Financial Conduct Authority

As a successful business owner, working along with an IFA and your accountant, you should be able to prepare the case for a commercial mortgage. Though your business past performance makes the substantial bases for your application, however the commercial lender will also see your business plan and future projections.

An mortgage advisor with his/ her years of experience can help you prepare a winning application. This is one of the reasons why it’s good to have a team of experts working alongside you, who understand your plans in detail. Though having a good relationship with your commercial business manager is useful, however, an IFA may also have access to other specialist lenders or mortgage deals available in the market. 

Commercial mortgages are usually secured against your business premises, although residential property can be used in some cases.  Mortgage rates and fees are higher than for a residential loan and in most cases you will need a substantial deposit.

We know you still be having some questions as:

  • Does the lender have any claim over my personal assets when I choose a commercial mortgage?
  • What are the other ways to take loan for my business other than going down the commercial mortgage route?
  • Which type of mortgage would suit my business best?

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