Specialist

Commercial Mortgage For Property In Sheffield

For Buying & Refinancing UK Property

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Commercial Mortgage For Property In Sheffield

Clifton private finance

We specialise in refinancing properties and sourcing mortgages for property transactions in the UK

As a specialist mortgage broker, we provide high quality commercial mortgage solutions for our clients' property in Sheffield.
  • Market leading rates from 0.44% pm
  • Up to 80% Loan To Value (100% with additional security)
  • From £50,000 to £25 Million
  • Terms  from 3 months
  • Interest roll up options
  • Same day agreement in principle
  • We can accept applications from individuals, limited companies, SPV's and offshore structures
  • Finance for residential, commercial including retail outlets, restaurants, cafes, guest houses and B&Bs, offices, warehouses, industrial units, factories, HMOs, nursing and care homes, investment properties, development land and buy to let property (portfolios and limited companies welcome)
We pride ourselves on providing excellent service responsive to your needs.
Call us on 0203 900 4322 to discuss your requirements.
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Commercial Mortgage For Property In Sheffield

What is a Commercial Mortgage

A commercial mortgage is a loan secured on a non-residential property. Typically, a commercial mortgage is used to purchase, refinance, refurbish or develop a property used for business purposes.

Commercial mortgage terms offered by lenders range from 3 to 30 years. 

Types of Commercial Mortgage

Commercial mortgage lenders’ rates vary from lender to lender and often depend on the type of commercial mortgage.

Owner-occupier commercial mortgages

These are often used by business owners for remortgaging or purchasing commercial owner-occupied premises, for example office space. Commercial mortgage lenders generally provide up to 75% Loan to Value for an owner-occupier mortgage.  

For example:  A business, who owned a factory in North London, signed a new lease for 10 years. Unfortunately, their bank decided to exit the market and the business had to repay the bank as soon as possible. The business secured an owner-occupier mortgage with another lender to repay their existing finance. 

Commercial investment mortgages

These are often used by those looking to invest in commercial property, such as a house in multiple occupation (HMO). Lenders usually provide up to 65% Loan to Value for a commercial investment mortgage.

For example: A landlord, needed to refinance their buy to let property in order to stabilise their finances. They approached a lender and secured a 10 year interest only commercial investment mortgage, which ensured they could refinance their buy to let property. 

When can a Commercial Mortgage be used

Commercial mortgages may be used for a:

Requirements for a Commercial Mortgage

Typically, borrowers will have to meet a certain criteria before securing a commercial mortgage.

Credit history/Business accounts/ Profit and loss accounts

To access commercial finance, borrowers will have to provide certain documentation such as their credit history, business accounts or profit and loss accounts to the lender. This enables the lender to make an informed decision and assess the likelihood that the commercial mortgage will be repaid.

Security

Commercial lenders will use a non-residential property as security for the commercial mortgage. This is to ensure that the lender has a course of action in the event that the borrower cannot afford the commercial mortgage repayments.

Deposit

Unlike residential mortgages, which generally require a deposit of 10%, to secure commercial finance the borrower will typically need a deposit of up to 30%.

How to Get a Commercial Mortgage For Property in Sheffield

If you need a commercial mortgage for your property, unless you have an in-depth knowledge of the financial services industry, it is advisable to contact a professional broker.

As a specialist property finance broker, Clifton Private Finance can provide a clear picture of the mortgages available to you. We will assess your specific set of circumstances and arrange a mortgage solution tailored to your needs.

If you need a commercial mortgage, call us on 0203 900 4322 or complete our contact form above.
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If you have any questions about our services or want to start making things happen please contact us