if Financial Solutions Ltd
Commercial Mortgage Specialists

We will liaise with lenders, solicitors, accountants and valuers on your behalf allowing you to run your business. We will find the financial solution even when your status and requirements don’t meet the normal criteria.

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Commercial mortgages

Commercial mortgages are loans availed by using one's property as a collateral to secure a business loan finance. As far as this concept is concerned business finance loans are similar to that of residential mortgage, except for the fact that in the case of commercial mortgages the collateral is a commercial building or complex not used for residential purposes.

A commercial mortgage is usually availed for business purposes and by businessmen not by individual house owners. The amount of loan given is based on either the credit worthiness of the individual or largely on the worthiness of the business and the property in question. A borrower may avail a business mortgage through mortgage companies, banks, and private lenders too. The interest rate of business mortgages may vary from institution to institution.

Generally traditional banks offer low rates but due to the numerous restrictions governing the lending criteria, it becomes a problem in the first place to get quick business finance from these banks. These banks also do not grant business mortgage loans to particular types of commercial properties like Gas stations. Excellent personal and business credit is a necessity in these institutions.

Unlike traditional banks, the commercial mortgages lenders are more flexible in their lending rules. The focus of commercial mortgage lenders is on high interest rates and current value of the property used as collateral.

While applying for commercial mortgage loans, you will be asked to provide the following:

A standard & completed loan application form, including business and personal details

Details of the necessity of the requirements of a commercial property mortgage.

Property details

Current value of the property

A plan for the repayment of the commercial property finance.

Acquiring mortgages for business requires pretty much the same steps as that of a residential mortgage. With a commercial mortgage loan though if the business is already established it helps in getting the loan easily. For most business mortgages UK, instead of verifying the owner's credit records the business line of credit may be accounted for.

The interest rates levied upon by commercial mortgage companies may be fixed or variable. In a fixed rate the interest rate remains the same through out the tenure while in a variable rate the interest rate will change as per the market fluctuations.

Before applying for a commercial loan the business owner needs to assure the lending institution that he/she is capable of paying back the loan. In such cases transparency of records is very important in securing loans. The borrower should have worthy enough collateral for securing the loan.

Because of the risky nature of the commercial mortgage owing to a large loan amount, lenders are mostly extra careful in sanctioning such loans. While seeking a commercial mortgage be careful of the terms and conditions that are being levied.

Lender guidelines and underwriting parameters need to be well examined before availing commercial mortgages. Do your own research to know which lenders offer low rates. You might also seek the services of a good, mortgage professional to guide you.

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