Commercial Mortgage Deposit

Confused_landord

Hello ,,,, Thinking about buying a commercial property , do all mortgage brokers require 25 per cent deposit ? 

K_S

@Confused_landord Are you asking about a mortgage to purchase a property to let out?

[Deleted User]

Fairly relevant username

A buy to let is still a residential mortgage but one not for owner occupation. 
A commercial mortgage is usually for a trading business

Confused_landord

for a beauty salon that i currently rent , i want to buy it for myself 

K_S

@confused_landlord Typically, you will need a minimum 25% deposit for a mortgage to purchase a commercial property. But if you are able to put up extra security (for example through another property you own), the deposit could be lower.

Confused_landord

@K_S yes i own other properties plus 21 years of trading at this particular property and my own home is mortgage free , thank you 

dimbo61

It might well be much cheaper to raise the money needed to buy the beauty salon by taking a mortgage out on your residential property !
Cheaper rates and more lenders.
Speak to a mortgage broker

Confused_landord

dimbo61 said:

It might well be much cheaper to raise the money needed to buy the beauty salon by taking a mortgage out on your residential property !
Cheaper rates and more lenders.
Speak to a mortgage broker

never thought of that !!!!! thank you