Can I mortgage leasehold and freehold properties?
There are no limitations on mortgaging freehold commercial properties
Typically a commercial mortgage can be raised on a leasehold property as long as there is more than 40 years remaining on the lease (for most lenders).
A commercial mortgage can be available for both licensed and unlicensed HMO’s (House in Multiple Occupation). However, if it is licensed, this license must be made available.
Commercial Mortgage Guide
- What is a commercial mortgage?
- When are commercial mortgages applicable?
- Who can apply for a commercial mortgage?
- What is the Funding for Lending Scheme?
- Where can I find the best deals?
- Can I mortgage leasehold and freehold properties?
- What are typical arrangement fees?
- What other fees might I incur?
- What are the benefits of using a broker?
- What is the typical loan to value ratio (LTV)?
- Why can't I find a table of rates?
- Which properties qualify as commercial?
I’ve just heard from my solicitor that he has the funds in from Interbay, had paid off our mortgage and is sending the balance on to me, which means that finally this is all over and I can move on. Thank you all so much for your help in arranging the mortgage, I am sure that my future plans will involve needing to arrange finance, and I will happily come back to you again.