Commercial Property + Commercial Mortgage
Discussion
Happy to help.
You'll need approx a 30% deposit plus you'll need to be able to prove from business accounts that you can afford the payments (ideally over 2+ years). Take last year's account and add back in depreciation and any rent paid for starters. Depending on where this comes out as a multiple of the payments you'd have to make yearly you either go top tier (High street banks at Base rate + 2-3%), middle tier (challenger banks 4-6%) or lower tier (non-status lenders i.e. those that don't ask too much about affordability at 8-15%.
And clean credit is important too but again there are tiers here if you have a bit of history.
Does that help as an outline? Drop me a note if you need any more help. This is what I do.
You'll need approx a 30% deposit plus you'll need to be able to prove from business accounts that you can afford the payments (ideally over 2+ years). Take last year's account and add back in depreciation and any rent paid for starters. Depending on where this comes out as a multiple of the payments you'd have to make yearly you either go top tier (High street banks at Base rate + 2-3%), middle tier (challenger banks 4-6%) or lower tier (non-status lenders i.e. those that don't ask too much about affordability at 8-15%.
And clean credit is important too but again there are tiers here if you have a bit of history.
Does that help as an outline? Drop me a note if you need any more help. This is what I do.
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