We know that comparing commercial mortgage lenders isn’t how you would ideally like to spend your time. Whether you’re looking to save money on your existing mortgage, buy a new business property or raise additional funds, we’ve got you covered.
That’s why we’ve built our quick and easy commercial mortgage comparison tool to allow you to compare lenders from across the market. Take a look at the latest products, find the ideal fit for you and apply online instantly.
Once your application is cross checked, we will begin the process for you straight away.
Read on below to find out more or fill in the form to talk to an expert.
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Types Of Commercial Mortgage
If you’re looking to buy a business property, chances are you’re going to need a commercial mortgage to complete the purchase.
Commercial mortgages can also be used to raise money against a property that is already owned, to purchase an unusual property, or to convert an existing property into a commercial unit. Not all lenders operate in the same way and costs can vary a great deal between one lender and another.
Owner-Occupied Business Mortgages or Commercial Investment
Commercial mortgages are used to purchase or refinance commercial and mixed-use properties. Owner-occupied commercial mortgages are designed to fund a property which is to be used for your own business purposes.
Commercial investment properties share a number of similarities with a standard residential buy to let. When a commercial property is purchased and leased to another person, or business, it is classed as a commercial investment property.
Unlike a residential property, buy to let mortgages aren’t suitable for raising money, which is where a commercial investment mortgage comes in.
Commercial investment mortgages are usually entirely different products than the ones designed for owner-occupiers. As such, it’s important that you make sure you choose a suitable product in this area, or your application may be doomed to failure.
Fixed Rate or Variable
Much like residential mortgages, many lenders will allow you to fix your interest rate for a period of time. This means that the rate, and subsequently your monthly payments will remain the same during the fixed rate period.
Unlike fixed rate mortgages, variable rates – as their name implies – can go up or down depending on market conditions.
Interest Only or Capital Repayment
Capital repayment commercial mortgage monthly payments are made up of both the interest charged and repayment of a portion of the capital itself. By making all repayments in full and on time, a capital repayment commercial mortgage would be fully repaid at the end of the term.
Interest only commercial mortgages, on the other hand, involve payment of only the interest each month. This means that the capital remains outstanding at the end of the term.
Which Commercial Mortgage is Best?
The best commercial mortgage will depend on your own individual circumstances. Not all lenders will offer each product, so it’s important to compare the entire market when searching for the best deal.
If you’re unsure which product is the most suitable for you, contact [Link to Contact page] one of our commercial mortgage experts, who will be happy to talk through your options.
Comparing Commercial Mortgage Products
When comparing commercial mortgage products, it’s important that you take all fees and charges into account. Choosing a product based on the interest rate alone will often result in you not selecting the cheapest option.
By considering all of the fees and charges, you can get an understanding of the total cost of the loan, allowing you to make a smarter choice.
Once You Apply For Your Commercial Mortgage
We like to keep things simple, so we’ve refined the process of taking out a commercial mortgage. This makes it as easy and hassle-free as possible for our customers.
- Compare products above and apply online for your preferred option.
- We manage your application through to completion for you, helping you every step of the way.
- One of our commercial mortgage experts will check through your application and confirm that the product chosen is the most suitable for your circumstances.
- We will progress the application instantly and let you know of any further information that the lender requires to start the process.
Why Compare Commercial Mortgages with ABC Finance Ltd?
Commercial mortgage costs can vary significantly between different lenders. With a number of rates and fee options and repayment methods, there are big savings to be made.
Whether you want to check you’re on the best deal or purchase a new commercial property, we can save you money and take all the hassle out of the process.
Securing Your New Commercial Mortgage
To secure your new business mortgage, compare the products above and apply online instantly. Alternatively, to discuss your requirements with an expert, enquire now for a call back, or get in touch now on 01922 620008.
About The Author
This content was produced by our Commercial Lending Director, Gary Hemming. Gary has over 15 years’ experience in financial services and specialises in bridging loans, commercial mortgages, development finance and business loans. He is widely respected in his field and regularly provides expert commentary for specialist trade publications, specialist business press as well as local and national press.
Gary Hemming CeMAP CeFA CeRGI CSP -
Commercial Lending Director
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