This calculator is an estimation of how much you could borrow. If you’re ready to take out a mortgage, speak to a Revolution brokers to see what options are available.
The Revolution team often hears from investors looking to purchase a business and wanting to know whether mortgage lending is available to finance this.
Mortgages can undoubtedly be used for a business purchase, and here we explain the most important factors to be aware of.
With more help with mortgage lending for business investment, contact mortgage brokers on 0330 304 3040 or send us a message to info@revolutionbrokers.co.uk.
Lenders will consider a broad range of circumstances, so the best option is to consult a professional, independent broker who can point you in the right direction.
Commercial mortgages fall into two main categories:
Business mortgages can finance any sort of premises acquisition, including offices, medical facilities, schools, retail sites, and professional properties.
Every lender will consider a commercial mortgage application on its own merit, and will consider the following factors:
The key is to apply to the right lenders, where you know you meet most of their eligibility criteria. It can be challenging for businesses to make this decision without having the experience and insight of an expert commercial mortgage broker.
Your broker will help you to put your application together in a favourable way to meet the criteria of your chosen provider.
There certainly are - you will find a range of commercial lending products, each of which has its own pros and cons. These include:
Bridging loans are quick to organise and often used for company purchases at auction, or where time is critical.
It is vital to have an exit strategy to work out how you will repay the temporary finance when the term ends, usually after one to three years.
Most borrowers either plan to remortgage, or sell the asset, to repay their bridging loan.
Another option, where you have an existing property and own equity, is to consider remortgaging. This releases the equity you need to purchase a business, although the affordability assessment will apply.
Loans are often a good choice if you need to borrow on a shorter-term basis, and need £25,000 or less. These are usually quicker to arrange and do not require any security.
If you need to borrow a higher value, another option might be more cost-effective.
Commercial mortgages are not intended for this purpose, so if you'd like to buy a home, you are best applying for a residential mortgage.
However, if the property is going to be a business - such as a B&B - then commercial lending is applicable. If you live in the business property, your residential space must not account for more than 40% of the total property space.
In some cases, a semi-commercial mortgage is the most suitable choice, for properties with both a commercial and residential aspect, such as a retail premise with an apartment above.
The Revolution Brokers team has years of experience in commercial mortgage lending. As a whole-of-market, independent broker, we can recommend mortgages from any provider, and any product that we think best suits your circumstances.
For help with commercial mortgage lending, including negotiations and access to off-market products, give us a call on 0330 304 3040 or email at info@revolutionbrokers.co.uk.
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The content included in our articles, blogs, web pages and news publications is based on information accurate at the time of writing. Note that policies and criteria can change regularly throughout the UK mortgage lending market, and it remains essential to contact the consultation team to receive up to date guidance. The information included on the Revolution Brokers site is not bespoke to any circumstances or individual application scenarios and therefore is not intended to be used as financial advice. The content we share is designed to be informative and helpful but cannot be relied upon to provide individual advice relevant to your mortgage requirements. All Revolution team members are fully qualified, trained and experienced to provide mortgage advice of an independent nature. We collaborate with lenders and providers who are regulated, authorised and registered with the Financial Conduct Authority (FCA). Should you require specific mortgage borrowing types, some products such as buy to let mortgages may not be FCA regulated. The Revolution team can provide further information about regulated and unregulated lending as required. Please remember that a mortgage is a debt which is secured against your home or property. Your home can be at risk of repossession if you do not keep up with the repayments or encounter any other difficulties in managing your mortgage borrowing responsibly. This also applies to any remortgage or home loan secured against your property, including equity release products.
Revolution Brokers understands that mortgages can be complex and confusing!
Ask us any question you might have, and one of our skilled consultants will come back to you as quickly as possible.
