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Links to third parties on this page are paid for by the third party. You can find out more about the individual products by visiting their site. Moneyfacts.co.uk will receive a small payment either if you click the links or if you use their services after you click through to their site. All information is subject is subject to change without notice. Please check all terms before making any decisions.Disclaimer
All rates subject to change without notice. Please check all rates and terms before borrowing. ANY PROPERTY GIVEN AS SECURITY, WHICH MAY INCLUDE YOUR HOME, MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE OR OTHER DEBTS SECURED ON IT.
The list of commercial mortgage providers on this page is a selection of services available and gives you an idea of the kind of options available. You can find out more about the individual products by visiting any of the providers listed. All information is subject to change without notice. Please check all terms before making any decisions. This information is intended solely to provide guidance and is not financial advice. Moneyfacts.co.uk will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts.co.uk recommends you obtain independent financial advice.Provider Links
‘Go To Provider's Site’ links are where we have an arrangement with a provider so you can move directly from our site to theirs to view more information and apply for a product. We also use ‘Speak to A Broker’ links where we have an arrangement with a preferred broker to move you directly to their site. Depending on the arrangement we may receive a modest commission either when you press a 'Go To Provider's Site' or 'Speak To A Broker' button, when you call an advertised number or when you complete an application following a link from our website.
Watts is the preferred commercial mortgage broker of Moneyfactscompare.co.uk
While a residential mortgage can be used to finance your own home, a commercial mortgage can be used to purchase commercial property. Whether this be a shop on your town’s high street or a factory to add to your production line, a commercial mortgage is a secured loan which can help your business expand.
This means your mortgaged premises will be used as collateral on the mortgage, and if you fail to make the monthly repayments they could be repossessed.
Commercial mortgages offer fixed or variable rates. This means you can get security over your monthly repayments or opt for a deal which fluctuates, potentially in line with the Bank of England's base rate.
Unlike a residential mortgage, commercial mortgages can be used for more than just buying property. They can also be used to expand your business in other ways, such as renovating your new premises or buying machinery to streamline your output. Generally, if you’re looking for a loan of over £25,000, a commercial mortgage could be the financing option for you.
Before applying for a commercial mortgage it is important to remember commercial mortgage rates are set independently. This means your lender will need to consider a variety of factors before offering a deal, such as the amount you wish to borrow and the time taken to pay back your sum.
So, before applying for your mortgage it is important to ready your documents. These will typically include, but aren’t limited to:
If you’re new to the process, speaking to a specialised broker can help you get a commercial mortgage. The advantages of a broker are that they have suitable knowledge of the sector, the contacts to find you the best deal and they know how to approach these lenders on your behalf.
Watts is the preferred commercial mortgage broker of moneyfactscompare.co.uk. Speak to them today to learn more.
Like a standard residential mortgage, a commercial mortgage often comes with several fees. For example, since a commercial mortgage is a secured loan, your lender will want to value your business’s premises. This means there could be valuation costs and arrangement fees for setting up the loan. More information on what these fees are can be found in our guide.
For the most part commercial mortgages are unregulated. We say this because some unique scenarios are regulated by the Financial Conduct Authority (FCA), for example if your commercial mortgage is backed by your own home. This only represents a fraction of the market, so speak to an expert broker for peace of mind.
Yes, but only the interest on the amount borrowed.
Yes, which means you could get a better rate by visiting our chart above. However, beware of early repayment charges which could make the switch more expensive in the long-term.
If you’re looking to purchase a buy-to-let property through your company, rather than your own name, you’ll need to look at a bespoke number of mortgages. These can be found on our website.