Commercial Mortgages

Confused_landord

which banks can you go direct too as regarding a commercial mortgage ? Or do you always have to use a broker ? ive noticed the brokers usually charge around £995.00 for finding you a mortgage .Its for my beauty salon I have rented and now i have the chance to buy it . Can you go direct to the banks or do you need a broker ? which is the best way forward , Thank you 

K_S

@Confused_landord I presume it is possible but I've only ever seen people take out commercial mortgages through brokers. Maybe try someone like Together? They seem to lend in every space including commercial.

I occasionally refer the odd client to a partner broker who arranges commercial mortgages, and the total fees upon completion is almost always well in excess of £995, so maybe that isn't too high.

ACG

Having also just read your other thread (it makes things easier to keep it all in one thread), are you sure you dont want a broker? 
They might charge a grand, but they will answer all of your questions and do the donkey work for you. In the nicest possible way, you are asking about the most basic of questions - which lenders can help and what is the minimum deposit... What will you be like when the questions get a little tougher? 

KS mentions Together and they are probably the most mainstream commercial lender, but they are rarely the cheapest. In the current climate, you may find getting a mortgage for a beauty salon is quite difficult. There are certain industries getting a rougher deal than others, I am not sure where hair/beauty stands in all honesty but if there is a lockdown again tonight (5 minutes to go!) then you may find it gets more difficult or more expensive. 

I do not do commercial mortgages anymore, like KS I hand them off to a broker I know but I think you may find it money well spent

Confused_landord

Ive been in touch with Watts Commercial Finance , they seem to have decent reviews