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You are in: Home > Services > Commercial Mortgages > Commercial Mortgage Overview Commercial MortgagesAn overview of the commercial mortgage» Also see Type of Commercial Mortgages Buying commercial premises can be a good investment. Owning a property gives your business stability, and the property itself can become a significant asset. Alternatively, you may be buying a business that is tied into the property - for example a Offices, Warehouses or Hotels. If you decide to buy premises you'll probably need to consider taking out a commercial mortgage. Mortgages are usually for 15 years or more and the property itself is at risk if payments are not made on time. Commercial mortgages can be used for a variety of purposes. For example:
Most banks and building societies offer commercial mortgages. But you must satisfy the lenders' criteria. Some lenders may accept applications where there is an adverse credit history, but most require a positive personal credit rating and clear evidence that your business is creditworthy. It also depends on:
Some lenders impose restrictions on the uses of commercial premises. Certain business concerns may be excluded altogether. » Also see Type of Commercial Mortgages
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