We have an in-house Commercial Mortgage broker specialist, who is available to visit you at your place of work, at home or alternatively here at our Holywood office.
Commercial mortgage loans can be split in two distinctive categories, “owner occupier” - the borrower is purchasing a business premises and “commercial investment” – the borrower is purchasing property as an asset to rent.
The commercial mortgage market is characterised by complexities not present in the Residential and Buy to Let markets.
In simple terms, loan to property values are dependent on industry sector and proprietor circumstances in the owner occupier arena, and by the quality of tenant in the commercial investment market, typically 75%.
Borrowers should also be aware of the fees in the commercial mortgage market, typically there will a lender fee of 1% and a more expensive commercial valuation. Given the nature of the complexity of titles and covenants on many commercial properties, a higher legal cost will be incurred.
The value of a broker within this field cannot be overstated, due to the bespoke nature of every single commercial mortgage transaction.
For further information please visit contact Brian at Holywood Mortgage Centre (028) 9042 7112.
Your home may be repossessed if you do not keep up repayments on your mortgage.
