Commercial Mortgages

Commercial mortgages are generally, loans secured against commercial property such as shops, factories, business premises, offices, workshops and garages, and even schools. Commercial mortgages are used by either an individual or company who wish to buy a property as a business premises - these mortgages are commonly referred to as Commercial owner occupier mortgages or business mortgages.

In exactly the same way as a domestic mortgage, the commercial lender will hold the property title deeds as security until such time as the loan is repaid. In the event of arrears the mortgage lender may repossess the commercial property.

As commercial mortgages are tailored to each individual client and to their own circumstances it is somewhat difficult to show examples. Unlike domestic mortgages, commercial mortgages are individually priced depending upon the strength of the proposition and often, the lenders willingness to invest in that specific market.

Clearly, you will need to demonstrate the strength of your business with audited accounts and a business plan highlighting your realistic future growth potential. If it is a new business with no previous trading history then the interest level offered is likely to reflect this.

As with all finance deals it is vital that you compare the markets and decide the best way forward available in order to suit your requirements.

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