Can my business buy its own property?
Yes it is possible for a business to buy its own freehold property in conjunction with a commercial mortgage.
Owner occupied commercial mortgages are looked at more favourably than commercial investment mortgages, as the lenders see less risk.
You should be able to obtain a standard loan of around 75% of the property value but this does depend on your trade and the strength of the business accounts.
Commercial finance is assessed differently to a residential mortgage for purchasing your own home. A commercial lender will look at the financial viability of the business. This will include affordability for the proposed repayments, available deposit and the property to be used as security.
Owning your own trading premises can provide stability and longevity for a business, as well as being a rewarding investment opportunity.
HOW CAN WE HELP?
Choosing a mortgage is an important financial decision and it’s easier with someone who’s on your side. We work as a whole of market mortgage broker so that you get the best possible choice of mortgages.
DRAKE MORTGAGES ARE EXPERT BUY TO LET MORTGAGE BROKERS
We are experienced whole of market brokers who can help you get a great holiday let mortgage.
We can also give you access to exclusive schemes and some specialist lenders who don’t deal direct with borrowers. Loans are available to individuals and SPV’s upto 75% and we can help with Scottish properties, mixed use, multi-lets and Airbnb.
Bridging loans are one of the most useful, multi-purpose, types of lending solutions available. You can get a bridging loan approved on almost any property for almost any reason. Great for auction purchases or snapping up a buy to let bargain.
And we can arrange them really fast.