Commercial Mortgages

{"limit":1000,"message":null,"objects":[{"answer":"When property (or land) is purchased or used for business purposes, the borrowing may be carried out by a business, individual or partnership. In this instance, you would need to apply for a commercial mortgage.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1660840238672,"hs_deleted_at":0,"hs_id":82365148579,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126286590,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"What is a Commercial mortgage?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"Limited companies, SPVs, LLPs, partnerships and sole traders are eligible to apply for a commercial mortgage.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1660899298667,"hs_deleted_at":0,"hs_id":82429299550,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126288354,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"Who can apply for a Commercial mortgage?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"

Here are just a few examples of what constitutes a commercial property for commercial mortgage purposes:

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• Shops (including those with flats above)
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• Offices
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• Warehouses
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• Factories
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• Workshops
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• Garages
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• Hotels
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• Restaurants
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• Pubs
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","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1660899372443,"hs_deleted_at":0,"hs_id":82429299563,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126290093,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"Which types of property can a Commercial mortgage be used for?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"

Different lenders will have their own eligibility checks. They will typically check the borrowers:

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• Cash flow
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• Outstanding debts
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• Projected business income
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• Ability to pay the deposit and source of funds
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• Income (full accounts of trading business) credit and assets
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• 2 year's trading accounts
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• Last 3 months’ business bank statements
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• Proof of ID (certified copy of passport or driving licence)
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• Proof of residency (utility bill or bank statement)
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","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1661937368090,"hs_deleted_at":0,"hs_id":83496506291,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126466593,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"What eligibility checks will there be for Commercial mortgages?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"

Although this will vary between lenders, here are a range of properties which commercial mortgages may suit:

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• Shops
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• Offices
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• Factories
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• Warehouses
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• Restaurants
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• Pubs
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• B&Bs
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• Working farms
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• Mixed usage properties 
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","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1661937368428,"hs_deleted_at":0,"hs_id":83496506292,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126468587,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"What sort of properties can be purchased or refinanced with Commercial mortgages?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"

Minimum loan sizes typically start at £20,000 and can range anywhere into and beyond £25 million (subject to criteria). This range will vary between lenders.

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Typical repayment terms are up to 25 years.

","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1661937489831,"hs_deleted_at":0,"hs_id":83526020129,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126470498,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"How much money can be borrowed with Commercial mortgages?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"Lenders will typically consider up to 75% loan-to-value (LTV). So, you will need to have a deposit available anywhere from 25% and above, depending on the lender’s criteria and your desired interest rates. This will vary between lenders.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1661937612659,"hs_deleted_at":0,"hs_id":83496506368,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662126471503,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"How much of a deposit do I need for a Commercial mortgage?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"This will drastically vary between lenders and of course between cases with varying circumstances. Here at Aria Finance from the initial enquiry to completion, our average turnaround time for a commercial mortgage loan is 8 to 10 weeks.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1661937632340,"hs_deleted_at":0,"hs_id":83526020134,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662641608306,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"How long do applications take to complete for Commercial mortgages?","sub_category":{"id":1,"label":"The Basics","labelTranslations":null,"name":"The Basics","order":0,"type":"option"}},{"answer":"Minimum loan size varies from lender to lender, but typically is around £50,000","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1662370357608,"hs_deleted_at":0,"hs_id":83976840991,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662370427155,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"What is the minimum that can be borrowed using a commercial mortgage?","sub_category":{"id":3,"label":"Terms","labelTranslations":null,"name":"Terms","order":2,"type":"option"}},{"answer":"Repayment terms can be up to 25 years.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1662370432938,"hs_deleted_at":0,"hs_id":83978838139,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662370450224,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"What is the typical repayment term?","sub_category":{"id":3,"label":"Terms","labelTranslations":null,"name":"Terms","order":2,"type":"option"}},{"answer":"As with a traditional mortgage, the commercial lender will hold the title deeds to the property as security.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1662370456617,"hs_deleted_at":0,"hs_id":83976840994,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662370484607,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"Who holds the title deeds with a commercial mortgage?","sub_category":{"id":4,"label":"Applications Process","labelTranslations":null,"name":"Applications Process","order":3,"type":"option"}},{"answer":"From the initial enquiry to completion, our average turnaround time for a commercial mortgage loan is six to eight weeks.","broker_specific":0,"hs_child_table_id":0,"hs_created_at":1662370491361,"hs_deleted_at":0,"hs_id":83978838140,"hs_is_edited":false,"hs_published_at":1694521022982,"hs_updated_at":1662370509134,"products":[{"id":6,"label":"commercial-mortgages","labelTranslations":null,"name":"commercial-mortgages","order":5,"type":"option"}],"question":"How long will an application take to complete?","sub_category":{"id":4,"label":"Applications Process","labelTranslations":null,"name":"Applications Process","order":3,"type":"option"}}],"offset":0,"total":12,"totalCount":12}