Owner Occupied Business
If you’re looking to purchase a property for using as your own business premises or remortgaging your current business property, we can source out the most suitable Commercial Mortgage deal for you. We specialise arranging commercial finance for properties including offices, professional practices, pubs, restaurants, retail shops with or without living accommodation, industrial and manufacturing units.
Mortgages are available for new business start-ups, where a business plan and a projection of 1st years trading is required, as well as existing businesses, where the last 2 or 3 years accounts are required. If no proof of income is available, we can arrange self-cert commercial mortgages, where an accountant’s certificate is all that is required in most cases.
Semi-commercial and mixed use property where the business element is run by the applicant. Semi-commercial property comprises both residential living accommodation with a proportion of the property for business purposes.
Remortgaging commercial owner-occupied premises
We can arrange funding up to 75% of the property value to purchase or refinance an existing mortgage facility and for capital raising. Lending is subject to trading performance and the type of industry as well as the condition and location of the property. All mortgages are generally subject to status, although facilities exist for those applicants who fall outside of usual lending criteria.
The mortgage is generally based on the ‘bricks and mortar’ value of the building. This excludes the value of the business goodwill and value of any fixed assets within the business. In some business sectors, mortgage lending can also be based on the business appraisal value, which can include goodwill.