Where can i get a commercial mortgage on a Leasehold Property?
Written By: admin on June 6, 2009
2 Comments
Any thought on where i can get a commercial mortgage on a leasehold property. I will have a 50% deposit on the property but would like the othe 50% as a mortgage. Also if i have a commercial mortgage can i also get a residential mortgage on another property and will this effect how much i could get?
Any information would be gratefully recieved.
thanks
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Tags: commercial mortgage, commercial mortgages, leasehold property, residential mortgageTags: commercial mortgage, leasehold property, residential mortgage
It all depends on what the lease terms are, if its a small renewable lease then you might struggle as lenders don't have anything to 'pin' their security on.
if its a long lease eg 70 years then most commercial mortgage lenders will look at it, depends if its a new venture for you if so you might need to approacha commercial mortgage lender who's a bit more flexible than a bank
try affordablemortgages.co.uk they can search across 80 commercial mortgage lenders in one go – saves you a lot of time !
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