Speak to our team on 029 2010 6759 or email us

Commercial Mortgage

A commercial mortgage is a loan from a lender that’s granted for the purpose of refinancing or purchasing property primarily used for business or commercial use. A commercial mortgage can also include trading commercial buy to let properties or business premises.

Why Use Truffle As Your Commercial Mortgage Broker?

When property investors or developers need finance to fund residential development projects, change of use projects or to convert properties from commercial to residential (especially if they have multiple development projects running in tandem), our specialist commercial advisors can help.

Whether you want a commercial mortgage for an office, shop, care home, dental practice, doctors surgery, veterinary practice, block of flats, hotel, land or any other commercial premises, our team of experts are always on hand to discuss your requirements. As brokers, our main goal is to find you the best possible deal and carry out all of the mundane tasks of getting a commercial mortgage.

To set up a commercial mortgage with Truffle, speak to our team on 029 2010 6759 or email us.

Commercial Mortgage

What Are The Benefits?

  • Any interest upon commercial mortgages is tax deductible
  • You may be able to take capital repayment holidays in the first few years of a commercial mortgage application
  • Interest rates are typically less than other forms of unsecured borrowing
  • Owning your commercial property provides you more stability and control (when compared to leasing an office or similar)

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How Much Deposit Is Required?

The deposit that’s required to qualify for a commercial mortgage is typically between 20 to 40%.

However, the deposit requirement is highly dependent on risk and each case is unique, which means the deposit could be higher or lower. For example, the risk may be seen by your business’s experience, probability, type, credit file and many other factors.

How To Get A Commercial Mortgage

Anyone can get a commercial mortgage as long as they can offer suitable security and have a deposit.

However, unlike a residential mortgage, the process of getting a commercial mortgage is slightly different and it’s highly recommended that you speak to a specialist mortgage broker such as ourselves.

This is because we will carry out all of the paperwork and find you the best possible commercial mortgage deal for your specific requirements.

In terms of the process to get a commercial mortgage, we would look into the following:

  • Competition of the Asset and Liability form as well as the commercial mortgage application form
  • Further information of your business
  • Valuation of the commercial building
  • Bank statements for your business
  • Trading accounts
  • Copies of leases and tenancy agreements (commercial buy to let mortgages)

If you would like to learn more about commercial mortgages, please feel free to give our experts at Truffle a call on 08000 35 37 35.

Are There Any Alternatives?

If you need finance quicker for your project, there are two alternatives to commercial mortgages.

The first and most common alternative is to take out a bridging loan because it can be arranged quickly. However, it’s worth pointing out that this type of loan does come with a higher interest rate. Another option is a secured business loan, which secures the loan against your business’s property value.