Commercial Mortgages & Business Loans
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Commercial mortgages are often required by small businesses, partnerships, and self-employed
sole traders who lack the capital needed to expand or purchase property and equipment.
Long term commercial finance, in the form of a mortgage, offers many small and medium sized
enterprises (SMEs) the ability to invest in their business with new technology, new or refurbished
premises, or increased stock levels.
In the past, it tended to be only larger organisations with a proven track record who could
obtain commercial mortgages. The attitudes and lending criteria of a lot of mainstream
banks and building societies meant that, until recently, a large number of younger/smaller
businesses were unable to obtain this type of commercial finance.
As a result, many businesses have been forced to rely on expensive short term finance (such as
asset finance, leasing, or overdrafts) or left to use their owners’ residential property as security.
Fortunately, this gap in the market is now being targeted by specialist commercial lenders who
are willing to serve the commercial mortgage needs of SMEs and owner-managed businesses.
In the past, it has been difficult for small business borrowers, self-employed traders, and
partnerships to raise commercial mortgage finance. This is because:
- Institutional lenders have focused on larger, corporate lending secured on the tenant covenant of
investment properties. This sector is seen as being low risk and so has become a favourite of
many traditional lenders.
- The lending criteria of many mainstream commercial lenders disqualify applicants who do not have
three years’ audited account, those without business plans, or those with a less than perfect
credit history. As the UK workforce migrates more towards self-employment, greater flexibility
is required from lenders to assess each case on its individual merits. Until recently, this
flexibility has been hard to find. Similarly, in the past, the requirement for three years’
accounts has been a barrier to new or young businesses.
How we can help
To address these problems, we have teamed up with a number of commercial mortgage advisers
who work in conjunction with specialist lenders to offer commercial
mortgages with some or all of the following features:
- Available to small owner managed limited companies, partnerships, and self-employed sole-traders
- Self-certification option – no need for three years’ accounts
- No compulsory insurances
- No need to change your personal or business banker
- Finance available for any purpose – no bank imposed restrictions
- Mortgage arrears, CCJs, IVAs, discharged bankruptcy all considered
- Same day indicative offer
- Mortgage offer a week from initial enquiry (subject to obtaining valuation fee)
- Completion from two weeks, rather than six months
- No need for business plans, CVs, projections, etc
- No interviews with the bank
- Transparent mortgage tracking Bank Base Rate
- Mortgage term of up to thirty years
- Advances from £50,000 up to £1.5m
To find out more about how commercial finance could help you, whether you have an
existing business or are just starting out, please visit our sister site –
Online Commercial Mortgages – where you can read more about commercial mortgages or get in touch with one of our panel of
expert professional mortgage advisers for a no-obligation discussion.