Commercial mortgages

Commercial mortgages typically offer 60-75% LTV, meaning you'll need a 25-40% deposit. The exact ratio depends on the property type, location, and your business financials. Some lenders may offer higher LTVs for prime properties or established businesses.

Start-up businesses face more challenges securing commercial mortgages. Lenders typically require 2-3 years of trading history, strong financial projections, and often personal guarantees from directors. Some specialist lenders may consider start-ups with robust business plans and adequate security.

Commercial mortgage rates are typically 1-3% higher than residential rates due to increased risk and complexity. Rates vary based on the property type, location, loan-to-value ratio, and business financials. Commercial lenders also consider the business's ability to service the debt.

Commercial mortgages are available for offices, retail units, warehouses, industrial properties, restaurants, hotels, and other business premises. The specific criteria and terms vary depending on the property type, location, and intended use.

Commercial mortgage applications typically take 6-12 weeks due to the complex documentation requirements and detailed business assessments. The process may be longer for larger loans or more complex business structures.

You'll need business accounts, tax returns, bank statements, business plan, property details, and personal financial information. The exact requirements vary by lender and loan size, but commercial mortgages require significantly more documentation than residential mortgages.

Yes, commercial mortgages are available for investment properties, though the criteria may be different from owner-occupied commercial properties. You'll need to demonstrate rental income potential and may need a larger deposit.

Commercial mortgages typically have maximum age limits of 70-75 at application, though some lenders may offer longer terms for established businesses. The age restrictions may be more flexible for commercial mortgages compared to residential.

Some specialist lenders may consider commercial mortgages for borrowers with minor credit issues, though the criteria may be stricter. You'll typically need a larger deposit and may face higher rates. Business credit history is also important.

If your business performance changes significantly, you should inform your lender immediately. This may affect your mortgage terms or require additional documentation to demonstrate continued ability to service the debt.