Commercial Mortgages

Whether you want to expand your existing commercial premises, relocate to another location, or develop a purpose built property you will need to find the best commercial loan package for your company.
Commerical mortgages can be on any scale and cover a wide range of activities:

  • Corner Shop
  • Medical Centres
  • Shopping Malls
  • Industrial Buildings

Credit Crunch - what next?

Lenders criteria has become stricter since the credit crunch, but they will still lend to well researched and sound proposals. Despite the current economic conditions, there is still a requirement for commercial lending and commercial lending will continue albeit at a smaller scale than before. If you are looking for a commercial property loan, contact us today and we will help you begin the process.
 

Did you know?

  • Commercial Mortgages are an unregulated product so it's important to ensure that you receive professional independent advice.
  • Taking out a Pension Mortgage can be a tax efficient way of purchasing your business premises - talk to us for further details.

Get a Commercial Mortgage Quote

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Frequently Asked Questions

  • How much can I borrow for my mortgage?

    Lenders use different ways to work out how much of a mortgage they will give you. The most important factor is your ability to repay the loan. Generally lenders take the following factors into consideration:

    • Your income, the type and security of your job.
    • Are you borrowing on your own or with someone else?
    • Have you savings and / or any outstanding loans?
    • Do you have a good credit history?
    • Will anyone will act as a guarantor for you?
    • What is the value of the property you want to buy?

    As a general rule, most lenders will try to make sure that your mortgage repayments plus any other loan repayments you have don't go above 40% of your monthly take-home pay.  They may offer you a smaller mortgage or offer you a mortgage over a longer term.

  • What is a 'top-up' mortgage?

    If the value of your home is higher than the amount you owe on your mortgage (this is called 'having equity'), you may be able to borrow extra on top of your existing mortgage.  This is known as ‘topping up' your mortgage.  The mortgage top-up loan is added on to your existing mortgage and secured on your home.  You may have to pay certain legal fees and other charges for this type of loan, so it is generally more suitable for larger sums of money where you may borrow over a number of years. 

  • What is a tracker mortgage?

    With a tracker mortgage, the interest rate is set at a fixed percentage (margin) above the European Central Bank (ECB) rate. For example, your rate could be set at the ECB rate plus 1%, for the life of your mortgage. This extra percentage above the ECB rate will stay the same until you have paid off your mortgage. If the ECB rate rises by 1%, your tracker rate will automatically rise by exactly 1%. The opposite happens if the ECB rate falls.

  • What is the difference between a fixed rate and a variable rate?

    Variable rates can move up and down in line with European Central Bank (ECB) increases or decreases in the base rate.With a fixed rate mortgage your rate stays the same for a set period of time (the fixed term), so your repayments don't change no matter even if ECB rates go up or down.

  • What is a fixed rate break penalty and when does it apply?

    If you want to change to a variable rate or pay off your mortgage before your fixed-rate period ends, your lender can charge a fee to cover the cost of breaking your fixed rate. Also, most lenders will not allow you to pay a lump sum into your mortgage during the fixed-rate period, so you could lose out on saving interest in this way.

  • Can I extend the duration of my policy?

    If you take out a convertible/continuation option at the outset of the policy, it is possible to extend the policy for a further period, without any medical underwriting requirements.