If you need finance for a commercial venture we could help.
We assist clients to arrange property purchases, commercial refinancing of individual properties and large portfolios and would be happy to discuss your commercial requirements in detail.
Commercial mortgages vary from lender to lender, but the interest rates offered will usually be based on either the Bank of England base rate or LIBOR (London Interbank Offered Rate). Rates can start from as low as 0.80% above the Bank of England base rate and will usually be determined by your specific needs, circumstances and any potential risk associated with the commercial premises.
There is no hard and fast rule as to what a commercial lender will allow as security for a mortgage. There are many commercial lenders with a vast number of products, therefore as long as you have monies for a deposit or enough equity available, and it’s affordable, there could be a commercial product to fit your needs.
This is not an exhaustive list, for instance there are equity based lenders which could lend on pretty much any UK property or land if you have 50% or more deposit / equity. This might be useful if the property is in a very bad state of repair or circumstances are such, that a standard commercial lender would be hesitant to lend.