WHAT IS A COMMERCIAL MORTGAGE?
A commercial mortgage is any loan secured on property which is not your residence. Buy to let mortgages are a special type of high volume commercial mortgage which is packaged for a volume market. But since almost every other kind of premises are different, each loan is assessed individually and priced according to the risk
Commercial mortgages generally take over where business loans finish. Business loans up to £25,000 are unsecured, but for larger amounts lenders need security to reduce the risk to themselves. Because of the legal and administrative costs of taking security on commercial property it is considered uneconomic to borrow under £50,000 this way, and some lenders have a minimum of £75,000 or more.
Commercial mortgages can be utilised for properties that businesses will trade from or as a way of purchasing an investment property. Due to their complexity, a knowledge of the industry is recommended when arranging
Commercial mortgages can be utilised for properties that businesses will trade from or as a way of purchasing an investment such as a buy-to-let. They can be seen as a complex form of lending, therefore knowledge of the industry is recommended when arranging.
Why Use A Commercial Mortgage Broker?
Not all commercial mortgage brokers are created equal; because of the volume of business that we pass through to lenders, we are often able to access more competitive deals than you would be able to achieve if you approached the lender directly.
Our ethical and transparent approach epitomises the professional approach we have for commercial mortgages. At every step of our journey together, we keep you fully updated and informed of the progress of your mortgage, keeping in contact with your independent financial adviser, accountant and solicitor ensuring a seamless transaction.
We are meticulous in our attention to detail, achieving the highest levels of due diligence and accuracy with every aspect of your mortgage application. Our professionalism minimises the possibility of delays by leaving nothing to chance.
With over 70 years’ experience, Hamilton’s are proficiently placed to identify your requirements and present them in the most attractive way to lenders. Understanding which lenders to approach for specific products and in-depth knowledge of lending criteria allows us to get the most competitive deal for you.