A Commercial mortgage is the backup system and also the backbone of your business. Whatever may be the purpose, it becomes the source of availing funds. It generates the need for assistance to find the best possible loan deal. At Shine Mortgages, we solve this purpose with our versatile panel of lenders that own a strong grip in the market. Their offers enhanced with varied features and serve to all the purposes of business empires. We facilitate funds for established businesses as well as start-ups.
To introduce the basic requirements for the mortgage, you put the commercial property as collateral. The amount limit depends solely upon the property value and risk profile. Generally, the maximum amount limit goes up to 70 - 75% of the value of the property. To borrow an amount of more than 75% of the property value, you may need to provide an additional property as an added security.
We cover a wide area of this sector with an open mind. Our personalised approach gives you nothing but an uncompromised experience.
Types of Properties You Get Funds For With Commercial Or Business Mortgages
A Commercial Mortgage is used to buy a business property. We have the choice of lending companies that cover types of commercial properties.
- Hotels & guest houses
- Commercial buy to let property
- Land for development
- Farms and other agricultural lands
- Public houses
- Leisure industry
- Office accommodation
- Warehouses and factory units
Our panel has mortgage loans for both individuals and companies. We facilitate borrowing options for any deal of business property as an asset, profiting from value appreciation or rent. Alternatives are available for any property on the lease of more than 70 years. Even for less than that, you can explore loan substitutes if you provide additional security. Also, you always get suggestions of the mortgage companies that have speedy procedures and are devoid of documentation. Use Commercial Mortagage Calculator
Advantages of Obtaining Commercial Mortgages Through Us
With so many borrowing options available in our panel, it is useful if you know the advantages of our offers on commercial mortgages.
- Lower Interest Rates: The interest rates you are offered are generally lower than what you pay for business loans or other types of unsecured loans. Even if there are variable rates, you would be saving money in the long run due to borrowing backed with customisation.
- Capital Gains: We bring only those lending companies that can offer lighter repayment schedules. The monthly instalments of these mortgages come around your rental payment. Whatever you would have paid as rent, you pay as your instalment. Also, part payments are allowed paying off before the completion of the tenure does not come with any fee or charge.
Fuss- Free Application
We are aware of your disliking for lengthy procedures. Don’t worry; our lenders are mess-free in this concern. You do not have to worry about long application forms asking you about details you do not know. Nor do you have to involve yourself in lengthy and tedious documentation procedures. The process of applying for a commercial mortgage on our website is smooth and comfortable. It would be like merely snapping your fingers and getting the work done. After that, it is all our headache from processing to approval and then to disbursement of funds.
We believe in your convenience and bring the lenders with competitive rates and flexibility according to the applicant. You are free to discuss fixed or variable type preference in the interest rates. We are available whenever you want. The interest charged will never be higher than what you had expected.
Our selection of mortgage lenders occurs following your concern. We aim to provide you with maximum and sufficient time to repay the loan. The repayment period spans from 1 to 30 years. Repayment plans are flexible due to customised deals, and the instalment amounts are never hefty. In case you want to change your repayment schedule during the loan term it is not impossible.
Time is money, but for a businessman, it is more than just money. We have accepted this fact and factored it in our broking policies. You do not have to wait for a long time to hear the decision on your commercial mortgage. Your application is processed by the concerned lender instantly after you submit it online and can expect the final word within 24-48 hours.
Be Your Boss
Some of our panelled loan companies have a special calculator to help you create your mortgage plan. Following the individuals needs of each borrower, they offer the option to personalise a plan by entering the amount, rates and repayment terms. You are free to vary the terms in the calculator to get the best deal for you. You choose the details where the monthly payments, total amount and the overall interest suit you the best.
We strongly believe in the notion of trust. Our scrutinised policies do not let any tricky lender accompany us. We understand that our customers would rely on us as long as we are honest with them. None of the mortgage providers can ask for any hidden and unnecessary charges. We maintain fair dealings and put in our best efforts to establish our reliability. You do not have to worry about surprise payments while dealing with us.
We promise you never to leave your side. Our representatives guide you about everything requires to find a suitable fund choice. We offer assistance to every customer of ours from the beginning. Be it understanding a mortgage, your liabilities, the process itself, the available repayment structures and every tiny detail or confusion you might have for us: our dedicated team will always be right beside you for any help.
Transparency and Safety
Whatever information you give, it remains safe and secure with us. You can track the latest action taken on your application anytime by visiting your account on our site. Data infringement and theft are not the issues that you experience with us. Only fair deals are there to get exploited and explored by you.
We are here for you!
Shine Mortgages is a place of rational deals and reasonable pricing where borrowers never get disappointed. Every deal they pick completely satisfies their commercial needs. Your business growth is the parameter for us to judge our success. When our loan products help you achieve a higher level of growth, that is the time we feel the real importance of our existence in the industry.
COMMERCIAL MORTGAGE FAQs
What deposit is required for a commercial mortgage?
On a broader basis, it depends upon the particular lender's policies, but in a general way, we can say between 25% and 40% deposit is required. Lenders do consider the risk level and needed deposit accordingly.
What is the current interest rate for commercial mortgages?
It depends upon which bank or lender you are approaching or what is its interest rates strategy. If we take on a general note, the current base rate is 0.75% while the maximum is around 7.90%.