Funding for either property developments and commercial purposes is still accessible.
A commercial mortgage in theory operates in the same way as a residential mortgage; ie the Mortgage Lender will want to assess you to ensure you have the means to repay the loan but the mortgage is taken out in the name of the business or in the name of the investor and figures borrowed may be based on the income of the individual or the business.
We have built good relationships with specialist mortgage lenders who do not have a presence on the traditional high street and can therefore secure funding when other traditional routes may not be accessible or feasible for you.
In some cases this means we will help with either arranging bridging finance or for development finance for the specific purpose of building a new property (or making major changes to an existing one.)
A commercial mortgage is a mortgage loan secured on any property which is not your residence. There are a variety of different commercial mortgages and the assessment and pricing for each type will vary according to the risk surrounding the property purchase.
In many cases, individuals purchasing a commercial property will utilise a commercial property mortgage but possibly in conjunction with a business loan in order to offer additional financing to secure the property they need.
So depending on how you plan to use the property will dictate the type of mortgage that is available to you, the interest rates available and the level of borrowing you can make. There are also different mortgages for commercial properties and owner occupied properties.