Commercial Mortgages

A commercial mortgage is a mortgage which is used to finance the purchase or refinancing of a commercial property. This can be a cost effective way of financing either the acquisition of either land or buildings, or refinancing existing premises to release equity or for redevelopment. As with a residential mortgage, the bank will take a legal charge over the asset until the repayments have been made.

If you are considering funding a purchase or refinance via a commercial mortgage, there are a number of different funding options available, which will have different features and benefits.

Commercial mortgages will normally be arranged through a business, but can also be arranged for an individual or partnership. The terms of a commercial mortgage, will be different to a residential mortgage for a number of different reasons.

  • Typically commercial mortgages are variable rate, and it less common for a fixed interest rate.
  • The terms of commercial mortgages are usually less than residential mortgages, this is primarily due to lifespan of a commercial property, which will normally be between 15-20 years.

There are two common interest rate arrangements which can be set up for a commercial mortgage, these are:

  • Variable Rate Interest
  • Fixed Rate Interest

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