COMMERCIAL MORTGAGES

A Commercial mortgage is similar to a residential mortgage in that they are both secured on a property as a first charge.Commercial mortgages can be secured on a wide range of properties; these include shops, guest houses, farms, industrial buildings, pubs and so on, with the normal length of a commercial mortgage being 5 to 30 years. They can be repaid on a capital and interest basis or on an interest only scheme. The latter can help reduce monthly payments considerably and therefore give more flexibility with budgets.

The usual maximum loan to value (LTV) you can borrow is 85%. This can be increased to above the value if additional security is being approved, such as other commercial properties or the applicants own home. In these instances most lenders will simply take a floating charge behind any other existing mortgage you many have on the additional property being approved as security. It can be advantageous to have a commercial mortgage with a different lender from the bank or building society that the business account is held.

If you would like one of our commercial mortgage brokers to assess the best option for your own circumstances and provide a firm quote then please call us or complete our enquiry form.

Commercial mortgages can be used for any purpose including;

• New business start-ups
• Business turnaround solutions
• Short Term Finance and debt consolidation
• Working Capital raising
• Property improvement
• Business expansion
• Commercial Mortgages are not regulated by the FSA

Your property may be repossessed if you do not keep up repayments on your mortgage

Coleman Clough Mortgages is an appointed representative of Coleman Clough Investment Management which is authorised and regulated by the Financial Service Authority.Typically we charge £395 for advising on and arranging your mortgage but a fee of up to 1% of the loan may be charged depending on your circumstances.

Coleman Clough Mortgages, The New Barn, Home Farm, The Avenue, Esholt, West Yorkshire, BD17 7RH