Commercial Owner Occupier Mortgages
Commonly referred to as “business mortgages” and are available to limited companies, partnership and sole traders purchasing or refinancing commercial property to be occupied by the business, for example:
- Retail shop
- Offices
- Light industrial, warehousing and storage
- Healthcare – care and nursing homes
- Leisure sector – public houses, restaurants, hotels and guest houses
- Education sector – private schools and children’s day nurseries
- Agricultural – working farms and equine businesses
Working with a wide range of providers including the Clearing and Challenger Banks, Building Societies, and more specialist lenders we can provide advice on the most suitable source to meet a borrower’s needs.
The property need not be exclusively for the borrower’s own business and there is flexibility for part letting to other business users on commercial terms. Where a retail operator lives over the business this is acceptable subject to the residential space not exceeding 40% of the overall floor area.
The usual maximum loan to value is 75% with 80% considered as an exception.
The interest rate will be subject to the type of business and property as well as the financial track record of the borrower.
Loans are available on the following basis:
- Interest only
- Long term repayment mortgages with term up to 25 years.
- Split loans with part interest only and part capital repayment.
- Fixed and variable interest rates
Terms and rates are not uniform and will depend on the overall proposition. Presentation is very important in this sector to highlight the strengths of the proposal and to justify the lending. Our wealth of experience and market knowledge enables us to present and negotiate the best possible rate and terms for each proposition.
We would be delighted to assist you with your requirements. For a no obligation chat and indication of what we may be able to achieve.
Please call us on 0330 058 3981 or email us enquiries@cms-comm.co.uk