UK commercial mortgages are mortgages for buying property and land for business purposes that uses the commercial property as colleteral with the lender retaining an interest in the property until the loan has been fully repaid are are available to all business types looking to borrow up to £2 million with terms available from up to 30 years and normally up to 85% LTV.
There are different types of mortgage interest rates available to borrowers;
Variable interest rate: the interest rate changes in line with the Bank of England base rate.
Fixed rate: fixed for a set amount of time, usually between two and five years. At the start of the fixed mortgage it will usually be higher than the variable interest rate.
The mortgage rate you are offered will be based on both current rates and the amount of risk to the lender.
Mortgage repayment methods include repayment mortgages, interest only mortgages, endowment mortgages and pension plan mortgages.
