-Whole of market access
-Same day agreement in principle
-Rates from 1.85%
-100% LTV available with additional security
-Interest only available
-No maximum loan
Access Commercial Ltd specialises in all types of commercial lending, we have access to all major and specialist lenders and partner with brokers UK wide, so we can provide the best deal for all types of commercial finance. We also provide fast online quotes for information purposes or full online mortgage applications.
With years of experience as a leading commercial mortgage provider Access can help you secure the right business finance...
Commercial Mortgage - Basics
A commercial mortgage is simply a mortgage with which a company or an individual can purchase a business property, either for their own use or to lease to a third party.
With this type of commercial loan, the mortgage provider retains a legal claim over the property until the loan has been paid back.
Commercial mortgages from Access can be obtained to facilitate the purchase of a wide variety of business properties, including:
- Farms and other agricultural properties
- Land for development
- Pubs, hotels, guest houses and bed and breakfast establishments
- Restaurants and fast food outlets
- Leisure industry properties
- General industrial properties, including warehouses and factory units
- Office accommodation
- Retail units
- Commercial buy to let properties.
A commercial mortgage can also be used for the development or refinancing of an existing business, for example:
- Expansion or refurbishment of a business property
- Buying out a partner’s share of a business property
- Current tenant purchasing the freehold of a business property
- Consolidation of existing loans at a lower rate of interest
How Much Can Be Borrowed Using A Commercial Mortgage?
The amount that financial institutions are normally prepared to lend as commercial mortgages depends on several factors including:
- Value of the property
- Size of deposit to be contributed by the mortgage applicant
- Maximum loan to value (LTV) ratio that the lender will sanction for the type of property
- The mortgage applicant’s business plan
Most lenders will offer a maximum loan-to-value ratio (LTV) of around 75 percent of the value of the property when making a commercial mortgage offer however Access Commercial Ltd can provide up to 90% LTV, but mortgage providers’ lending policies do vary. For example, few lenders would offer a mortgage of more than 50 percent of the value of the property for the purchase of a holiday caravan park, whereas for the purchase of a profitable restaurant business a mortgage of up to 85 percent LTV could be available. One hundred percent mortgages may be obtainable by some borrowers, if they are able to provide additional collateral, but the rate of interest charged is likely to be higher than for a mainstream commercial mortgage.
- A commercial mortgage is a mortgage with which a company or an individual can purchase a business property
- Commercial mortgages can be used to purchase a wide variety of business properties
- Most lenders will offer a maximum LTV of 70 percent on commercial properties