COMMERCIAL MORTGAGE BROKERS
Looking for a Commercial Mortgage Broker?
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Here at the Mortgage Advice Center, we understand that securing a mortgage for your commercial property can be a complex and time-consuming process. That’s where we come in. As a leading commercial mortgage broker, we specialise in assisting business owners and investors in finding the right financing solutions tailored to their unique needs.
With years of industry expertise and an extensive network of lenders, we have the knowledge and resources to guide you through every step of the mortgage journey. Whether you’re looking to purchase, refinance, or expand your commercial property portfolio, our team of dedicated professionals is here to simplify the process and maximise your financial opportunities.
Commercial Property Mortgage Brokers
Unlike residential mortgages, which are used to finance homes, commercial mortgages are tailored to the unique needs of businesses and investors. These loans are typically used for purchasing commercial properties, refinancing existing commercial properties, or funding property development projects. Commercial properties include office buildings, retail spaces, industrial warehouses, hotels, agriculture land, and other non-residential real estate.
You will need a deposit of at least 25% though some lenders may let you use a property you own as security if there is enough equity. As with buy-to-let mortgages, you could have an interest-only mortgage though there would have to be a separate repayment vehicle in place in case the business is not viable. This could be sale of the subject property or other investments. We have access to the high street lenders, secondary lenders, independent lenders and specialist lenders. We will be able to search the entire market to make sure we get you the best deal for your requirements.
Bridging Loan / Short Term Loans
A bridging loan is a loan that is secured against a property and they are short term in nature (up to 2 years). They help to “bridge” the gap between selling a new home and buying a new home. they are also useful if you are purchasing a property at auction, to buy and refurbish a property, paying tax such as IHT or probate issues, or to quickly purchase a property, for example if a chain was to break.
You can loan up to 75% of the value of the property, and they can be taken out on a first or second charge basis. A first charge basis would be assuming there wasn’t another mortgage on the property. A second charge basis would be if there was already an existing mortgage. The Bridge lender will want assurance that the loan will be able to be repaid and will want to see a viable way that you will be able to pay off the loan after the term which is often after 1 year. Viable options for repayment are often selling the property or obtaining a mortgage.
Property Developer Finance
Are you looking for funding for a new build, renovation or part-build? Here at the Mortgage Advice Center, we help property developers find suitable finance to get their projects off the ground.
Currently, we are able to obtain funding for up to 60% of the Gross Development Value and 70% of the total build costs. Lenders will want to see a commitment from the borrower with the lender usually providing the build costs.
Speak to one of our advisors to get an idea of how much you are able to borrow.
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