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Commercial loans are typically used for either the purchase of a commercial property, or for the purchase of a business, including the property owned by the business (e.g. a shop).
There are a range of scenarios for which commercial lending is appropriate, ranging from the purchase of a shop or a freehold containing a shop and flat above (sometimes known as a 'shop and uppers'), through to larger scale purchases such as an office building or hotel.
A commercial mortgage may also be appropriate for certain transactions relating to dwellings. For example, if you are seeking to purchase a block of flats, including the freehold, it may be more appropriate to use a commercial loan on the entire block, rather than individual mortgages on each flat.
This type of mortgage will be taken out in the name of the business, although lenders will typically require personal undertakings from the business owners in the event of default.
Alexander Hall's expert specialist lending team will take the time to understand your goals, discuss any business plans, and leverage the relationships we have with specialist commercial and more mainstream lenders to identify the right commercial lending solution for your business.