A commercial mortgage is a financial product that is guaranteed by the real estate property as a “collateral”. You are obliged to settle the debt with a predefined set of payments agreed with the mortgage provider.
what does it cover?
Commercial mortgages are used by both individuals and businesses to make large real estate purchases without having to pay the full purchase price up front. You will repay the loan plus interest over the years, and once the loan is cleared up, you own the property outright.
Basically, a commercial mortgage is a loan that helps you buy business property. Usually, you are required to put down a deposit of at least 5% of the property value and the mortgage will cover the rest. We are mortgage brokers in Bournemouth but we can help you nationwide anywhere in the UK. You will have to pay back the loan amount monthly over a period of years until the mortgage is cleared. The interest depends on the deal you have arranged with the lender (i.e., if you opt for a fixed rate mortgage over a set period, the interest you pay will stay the same for each month).
A larger percentage of your monthly payment goes towards your interest versus your capital at the beginning of your commercial mortgage. Over time, you start paying off more of the capital as your debt goes down. Essentially, commercial mortgages come with several variables more than any other types of loans, such as the matter of what has to be repaid and when.
Work with the best commercial mortgage broker experts to get the best deal on what may be one of the biggest investments of your life.
Why CHOOSE MORTGAGE SQUARED?
Being a family run commercial mortgage broker in Bournemouth gives us the heads up on what’s important to our clients and what we can do to make the Mortgage journey a stress less one.
We believe our four step process enables us to find the best mortgage for your circumstances and we will always put you at the heart of our findings.
For a friendly chat with one of our advisors or to take a look at what we offer, please head over to http://www.mortgagesquared.co.uk
We are a friendly, helpful team of commercial mortgage brokers and we’d love to assist you.