Commercial Property Mortgage
If you are looking to raise finance, or re-mortgage your business premises, we have access to a panel of lenders that will provide Commercial Property Mortgage you with competitive rates.
Journey Mortgages can help you to access a panel of lenders able to help you with your commercial projects. From the small to the big, Journey Mortgages are well suited to help and guide you on your options.
Would you like to learn more about commercial property mortgages UK? We are on hand to assist and, as an independent mortgage broker, we have access to a comprehensive market, and can offer you the competitive rates.
We are here to assist you with advice on Commercial Property Finance in UK. We can even look at a rate that you have been currently offered to see if we can provide something more affordable, or in line with your financial goals.
In order to take out a mortgage on a commercial property, the lenders will need to see suitable repayment strategies and the valuation will need to be satisfactory. Suitable repayment strategies will vary depending on the situation. If you are mortgaging for your own business purposes, then the lenders will need to see trading accounts and be satisfied with the profitability of your business. If you are mortgaging commercial property that is already rented out, then the lenders will need to see suitable tenancy/lease agreements in place.
This will depend on the situation of the mortgage itself. Commercial mortgages become regulated if 40% or more of the property is to be used as or in connection with a dwelling, otherwise, they are classed as non-regulated transactions.
Depending on the situation and what your particular needs are, you can obtain various commercial mortgages over a varied length of time, also you can arrange them on a repayment or interest-only basis.
If all case requirements/information and documentation are correct and satisfied, a commercial mortgage can take a matter of weeks to arrange.
To pull equity out of commercial properties, firstly the valuation of the property needs to be sufficient enough for the purposes of the mortgage itself. You will not be able to borrow more than the value of the property itself.