Finance for a property, whether for an established business, investor or a developer, is crucially important.

At Breadalbane, we specialise in the following areas:

• Commercial mortgages

• Development finance

• Short Term Finance

• Refinance

Here, we look at answering the key questions around commercial mortgages.

What is a commercial mortgage? 

Businesses ususally use a commercial mortgages when there’s a want to buy property or land for commercial use. Similar to residential mortgages, the money is borrowed from a bank or specialist lender and then repaid in monthly instalments over a set term, with interest added on top.

What are the benefits? 

A commercial mortgage can be very beneficial for businesses, offering multiple potential benefits, like competitive rates when compared with other products, longer debt terms and greater control over your business premises.

Are they easy to secure? 

The quick answer is yes! However, as all lenders have different appetites depending on the sector you operate in, the loan to value you need and the speed of response you require, the right broker can be invaluable in helping to navigate the market to ensure you engage with the most appropriate lenders at the earliest possible stage. Brokers can prove particularly useful when there’s complexity to the mortgage, whether that comes from company structure, unusual or niche requirements or when you’ve already been turned down elsewhere. 

What about the rates?

Similar to residential mortgages, rates vary depending on a number of factors, including credit history, length of time trading and location. 

You can find out a bit more on what’s covered by a commercial mortgage here.