Expect more from Commercial Mortgages
When it comes to a commercial mortgage, expect more from your bank. No off-the-shelf products. Your mortgage should fit your needs exactly.
With Aldermore, you get a precisely tailored mortgage from an award-winning bank: we have just won Best Commercial Lender at the annual Bridging & Commercial awards for the third year running. So whether you're an experienced investor, a first-time buyer or looking for a property for your business, you'll enjoy competitive rates and terms designed around you.
Individual rates with service to match
Unlike other business banks, we don't publish rate information. Instead, we'll set an individual rate based on the strength of your proposition. And rest assured, our dedicated lending managers will oversee your application and keep you informed at every step.
Key highlights:
- Up to 70% Loan to Value
- Lending amounts £25,001-£2m*
- Terms from 5 to 20 years
- Interest margin available over LIBOR. For commercial mortgages to owner occupiers, margins over Bank of England base rate are available
*On a single property, maximum £5m exposure to a single customer over multiple securities.
Our mortgage options
Whatever your investment strategy, we can tailor a mortgage to suit you. Learn more about our range of investment mortgages and business mortgages, including:
Investment mortgages (residential and commercial)
Ideal if you're a landlord or investor looking to expand your portfolio.
Business mortgages (also known as commercial mortgages for owner-occupiers)
Ideal if you want to optimise your business finance - whether you want to purchase your business premises and save on rent, or are looking to expand your business.
Buy-to-let mortgages
Ideal if you're looking to purchase a residential property with the specific aim of letting it to tenants.
Call 0333 321 4000 and we'll chat through your proposition to target the right mortgage terms for you. Alternatively, email us at BusinessLendingDirect@aldermore.co.uk
Get in touch
Call us on
0333 321 4000
Q&A for Business Mortgages category
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Answers
High Street banks may able to provide finance for a transaction such as this.
If you would like to discuss this further please call the Commercial Mortgages team on 01733 404518.
Answers
The standard process is that an application is submitted by the customer, the property is valued and if approved, a mortgage offer is issued by the bank and the transaction is completed.
In addition, because commercial properties can take longer to sell than houses, all lenders regard them as a bit more risky, and for this reason the customer normally pays a higher interest rate.
What documentation could I be requested from the lender if I’m applying for a commercial mortgage for my own trading business?
Answers
Typically, you could be asked for:
- Financial accounts for three years
- Bank statements
- If you think things are on the up in your business, we may ask to see a projection
- In some cases, providing your business plan and management accounts will also help to build a full picture
In most cases, you will be asking the lender for a long time loan based on your current performance and also requesting to put more money into the transaction than you (if you wish to borrow more than 50% of the value of the property ) so bear with all the questions!
The above shouldn’t be treated as a checklist as every lender can have different policies and every case is different.
I am looking to buy 3 x 3bed bugalows for this project..
There is a huge demand for this type of rented accommodations
Answers
Answers
- Your experience and credit history
- How much you wish to borrow
- What you want the money for
- Your ability to repay the mortgage
- What security you can offer for the mortgage
Typically, your application is likely to be accepted if:
- You have a clean credit history and bring experience to the table
- The amount you wish to borrow is within the range the lender is happy with
- The reason for borrowing acceptable to the lender
- You can demonstrate an ability to repay the mortgage, even if interest rates go up in future, and;
- You can offer acceptable security
However every organisation can have different policies therefore is better to ask your lender whe its requirements are. The above information should not be used as checklists.
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