Commercial mortgages are specifically for individuals or Companies who wish to acquire an office, industrial unit or a shop for their business or for investment.Request a Call Back
Commercial Mortgage Experts
Unique Property Finance are specialist commercial mortgage brokers and have access to exclusive products from across the commercial lending market.
Commercial Mortgages can be considered as a fairly complex type of loan and although the high street is where most business owners search for their lending, you should actively consider using the services of an impartial, specialist commercial mortgage broker that covers the whole market.
A broker will search the most appropriate deal according to your business sector and try and tender the best rate available. Also, a high street lender would use similar loan to value ratios as residential loans when lending but these can differ depending on the individual banks’ lending criteria and appetite for the business type.
The two main factors that lenders look at are serviceability and security. The first would be the operation of the business and personal credit conduct and the latter would be obtained by a professional survey of the security property.
Our mortgage brokers and account managers have worked in the sector for over 20 years and in this time have been successful in finding solutions to a wide range of commercial scenarios.
We offer a personal service, and provide each client with a dedicated commercial mortgage broker who ensures you fully understand the financial product you are selecting and makes sure the process is as simple as possible.
Most lenders will request a lot of commercial information on the performance of the business and it is worth preparing this from the start in order to help your application run smoothly. This will help to secure the property so you are ready to go ahead quickly with your purchase, getting your offer ahead of other potential buyers. Documents typically requested are:
- Audited accounts for the last three years
- A profit and loss forecast for the next few years
- Current business performance or a CV of the business
- The personal details of the key owners/shareholders in the business for credit-checking
- Asset and liability or Income and Expenditure statements for each applicant
- A business plan detailing how the property will contribute to your cash flow and how you plan on repaying the loan.
The main concerns of any lender would start with your personal standing and credit worthiness. This will then be followed by whether you can afford to pay back the loan and should you default, whether the property is worth enough to cover the value of the loan. Business owners should seek advice from trusted brokers that will not only give them the right lender and package, but also continue to support them through their business lifespan.