Commercial Mortgage

My own bank are being unhelpful about arranging a commercial mortgage, can you help?

Yes we can. We will help you in a simple series of steps, leading to your successful application for a commercial mortgage:

Even if you’ve had difficulties with your bank, Worldwide’s independent commercial finance brokers will be able to help you.

When you contact us, you will be appointed your own dedicated independent broker.

Your initial consultation will be free of charge and obligation.

Our fee guarantee means that you won’t pay any fees unless we can help you.

Your broker will listen in detail to your commercial mortgage requirements. Then, using their access to the entire marketplace, they will search to find the best commercial mortgage product for you.

Either your broker will find you another lender, or we will negotiate with your current bank to help speed up the application process and find you a better deal.

When you are happy with the deal your broker has found, they will take you through the entire commercial mortgage application process, step by step all the way through to completion.

Call your FT award winning independent commercial finance adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you.

What will it cost to arrange a commercial mortgage?

The exact cost to arrange a commercial mortgage will vary slightly, depending on how much you want to borrow.

Worldwide’s independent commercial brokers make sure that all costs are transparent so you know exactly what you have to pay. They will also work to keep costs as low as possible.

When it comes to your broker’s fee, they will charge either a set fee, which is typically 1% of the amount of finance you are raising, or they will charge on an hourly basis. Currently, the hourly rate is £150. You choose the fee structure that is best for you.

Other costs that you should expect when arranging a commercial mortgage are as follows:

• Valuation fees

• Lenders’ arrangement fee

• Legal fees

• Survey fees

• Stamp duty (depending on the cost of the property)

• Broker’s fees

Some of these costs may be incorporated into the commercial mortgage. Your independent commercial adviser will help you do this.

What application process do I have to go through with a commercial mortgage?

The application process for a commercial mortgage has some similarities to an application for a residential mortgage, but it also has some important differences – for example, lenders will want to assess, particularly if you are starting up a business, what experience you have in your chosen industry.

Typically, an application process for a commercial mortgage will go as follows:

• You decide what you need a commercial mortgage for, what property you would like to buy and how much you need to borrow.

• After talking to your independent commercial finance adviser, you will have a clearer idea of how much you can afford to borrow, according to lenders’ criteria

• Your independent commercial finance adviser will search the marketplace to find the best lender and product to suit your needs and circumstances.

• Your adviser will help you with the application for the commercial mortgage, including making sure you have all the necessary information and paperwork that your lender will require

• Your adviser will also help you negotiate the best deal on interest rates and repayment terms.

The application process for a commercial mortgage will usually take longer to arrange than a residential mortgage. The average time is two months; with some applications taking less time, others taking more time depending on the complexity of the case.

Remember: You won’t pay any fees unless we can help you.

Call your FT award winning independent commercial finance adviser in confidence now on 0800 0112825 or complete the contact form and your dedicated adviser will contact you to see how we can help you.