Can you get a Mortgage for Commercial Property?

Short answer: Yes! However, there are several factors to take into consideration when applying for a commercial mortgage. Luckily, there are specialist mortgages brokers who can help with and advise on what you need to provide to secure these mortgages.

So, what do you need to take out a commercial mortgage? First and foremost, you will need a deposit, this could be between 25-35% of the value of the property that you would like to purchase. Secondly, the lender will look at the type of commercial property (garage, office, shop, etc) you intend to purchase and the location.

Overall depending on the type of business and its sustainability, commercial mortgages are available for many sectors, also depending on experience will determine the level of lending and terms.

What are the different types of commercial mortgages? These come under the categories: commercial premises purchase, cash injection, and buy-to-let.

A key thing to remember with any mortgage is key advice from the FCA (Financial Conduct Authority) “your home may be repossessed if you do not keep up with payments”.

Journey Mortgages is a specialist broker that can help you with commercial mortgages and more. Get in touch, and one of our friendly team with be happy to help you with your enquiry.

Attention: Late repayments can cause you serious money problems. For help go to moneyhelper.org.uk

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© Journey Mortgages Ltd. - Company Number: 11823165 - View Privacy Policy Registered Address: Perch @ The Eco Business Centre Bicester, Oxfordshire OX27 8BL, United Kingdom

A fee may be payable for mortgage advice. The exact amount will depend on your circumstances. Journey Mortgages Ltd is an appointed representative of Brompton Asset Finance Ltd, which is authorised and regulated by the Financial Conduct Authority, FCA number 727308. Journey Mortgages Ltd is authorised and regulated by the Financial Conduct Authority, FCA number 915911.

Company Registered in England and Wales, registration number 11823165. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE