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Commercial Mortgages & Buy-To-Let
Whether it's for a new property, or re-mortgaging an existing deal, NorthFunding has you covered.
1. Complete applications with lenders that are right for your business and property, and that are likely to approve you.
2. Review your options with our team, and then proceed with the chosen offer.
3. Follow the repayment schedule and keep an eye on interest rates, in case re-mortgaging sooner could be beneficial.
Speak to NorthFunding for property finance advice, and who best to approach.
Commercial Mortgages
Commercial mortgages (either owner occupied or for investment properties) enable you to purchase a property for your business, such as an office, factory, warehouse, or retail store.
Typical funding amounts?
£50,000 - £10,000,000
Repayments & Fees?
Loan-To-Value (LTV) ratios affect interest rates, so the higher % you borrow against the value of a property, the higher the interest rate will be. Typically, the maximum LTV is 80%, so you'll need a deposit of at least 20%.
You'll have an initial APR offer for a set period, then interest rates increase - but at this point you can change provider for a new deal, with a new initial APR offer.
Eligibility?
Lenders have different criteria, but your eligibility usually depends on your business' ability to repay the mortgage. Affordability is reviewed against EBITDA for owner occupied mortgages, or net operating income (rent payments) for investment properties, to determine the Debt Service Cover (DSC).
Buy-to-Let Mortgages (BTL)
BTL mortgages enable you to purchase a property that can be used for residential rental properties.
Typical funding amounts?
£50,000 - £10M
Repayments & Fees?
Loan-To-Value (LTV) ratios affect interest rates, so the higher % you borrow against the value of a property, the higher the interest rate will be. Typically, the maximum LTV for BTL mortgages is 75%, so you'll need deposit of at least 25%.
You'll have an initial APR offer for a set period, then interest rates increase - but at this point you can change provider for a new deal, with a new initial APR offer.
Eligibility?
Lenders have different criteria, but your eligibility usually depends on your business' ability to repay the mortgage. Affordability is reviewed against net operating income (rent payments) for investment properties, to determine the Debt Service Cover (DSC).