[Closed] Mortgage for Commercial Building

What sort of premises is it and what is the use/who is using it? Most high street banks offer commercial mortgages, plus a load of specialist ones for more specific use (ie investment, BTL, owner occupied etc)

Peter - Its for a small office building. Awaiting for call back from Natwest, but the other High Street banks couldnt / didnt want to help, even with 25 - 30% depost. It would be my peference to buy it personally on a 'buy to let' mortgage and then 'let' it to my business. I was advised by all the high street banks that their BTL's were only for 'residential housing'.

Plenty of lenders out there that will do a deal at the kind of deposit you're talking about, although they'll want to be confident that the business/you could afford the repayments - is this the issue?

You won't use a BTL mortgage as these are for residential properties. You'll borrow it on a commercial deal and then simply let it to your business.

Mcobie - Doesnt seem to be as I never even got that far. I think the biggest problem might be getting to speak to the right person who knows the full range of products available.

It would be my peference to buy it personally on a 'buy to let' mortgage and then 'let' it to my business. I was advised by all the high street banks that their BTL's were only for 'residential housing'.

Have a look at Aldermore.

there is also vat on commercial buildings, most lenders will actually short term lend you the 20% vat too to be repaid when you do your return.
the people i know who have bought with their limited companies have always had to pay a higher rate than a residential mortgage and have a decent 30-40% deposit.
most recent one i know of was with santander

Ive used these guys in the past.
They'll take their pound of flesh but they do get you access to well known lenders that might not let you in the front door as a walk in otherwise.

http://www.brooklandscf.co.uk/commercial-finance/30-commercial-mortgages

Mcobie - Doesnt seem to be as I never even got that far. I think the biggest problem might be getting to speak to the right person who knows the full range of products available

Seems odd. I'm an independent broker, so if you're struggling and want help feel free to drop me a line.

Despite the 'blank faces' on the shop staff when I walked in, the Business Managers at 2 of the high streets have called back and arranged meetings. If nothing viable is tabled, I'll explore some of the other options. Cheers.