How to get a mortgage for a business?
We offer a list of recommended actions that will help you quickly and easily get a profitable commercial mortgage:
- Analyze the possible types:
- Commercial mortgage, the purpose of which is the purchase of commercial premises.
- Buy-to-Let Mortgage: the program is aimed at the purchase of properties for rent
- Prepare your business plan. A properly prepared business plan is the key to obtaining a loan. The business plan should clearly state the business goals, predict the use of the property from a financial point of view
- Check eligibility. The financial indicators of the enterprise, as well as the credit history, must be good
- Collect the documents. Usually, the list of documents includes financial reports, tax returns, registration documents, and documents for commercial real estate.
- Analyze and compare the offers of several banks and other lenders. This will help you choose a commercial real estate loan that best meets your needs and with minimal costs:
- Apply online or contact the nearest bank branch or financial company office for real estate finance
If you prepare well, and analyze market offers, if necessary, use the help of a financial consultant - all this will increase the chances of obtaining a profitable business loan for property.
Business loan calculations for 3 years (example)
| Amount, $ | Rate, % | Accrued %, $ |
| 500,000 | 8.20% | 63,208 |
| 500,000 | 8.30% | 63,979 |
| 500,000 | 8.40% | 64,750 |
| 1,000,000 | 9.20% | 141,833 |
| 1,000,000 | 9.30% | 143,375 |
| 1,000,000 | 9.40% | 144,917 |
| 2,500,000 | 10.20% | 393,125 |
| 2,500,000 | 10.30% | 396,979 |
| 2,500,000 | 10.40% | 400,833 |
| 5,000,000 | 11.20% | 863,333 |
| 5,000,000 | 11.30% | 871,042 |
| 5,000,000 | 11.40% | 878,750 |
You can also see the similar FAQ at the link:
- Does HSBC propose a loan holiday?
- Financial calculators from Bank of Ireland
- HSBC bounce back loan contact number
- How do I set up my HSBC credit card Direct Debit
- What financial services of Bank of Ireland can get a client in Post Office?
Details of companies offering the financial services:
Aldermore Bank
Head office’s address: Apex Plaza, Forbury Road, Reading, RG1 1AX
Phone: +44 20 7788 6699
Web-site: http://www.aldermore.co.uk/
Swift code: ALDBGB2P
Reference number: 204503
Stock code: 51WB
ABN: 00947662
BSB: ALD
Barclays Bank
Head office’s address: 1 Churchill Place, London E14 5HP
Contact center: 0800-400-100
Phone: +44 (034) 5734 53 45
Web-site: http://www.barclays.co.uk/
Swift code: BARCGB33
Reference number: 122702
Stock code: BARC
ABN: 01026167
BSB: BARC
Cumberland
Head office’s address: Cumberland House, Cooper Way, Parkhouse, Carlisle CA3 0JF
Contact center: 01228-403-141
Web-site: https://www.cumberland.co.uk/
HSBC Bank
Head office’s address: Unit 8, Canada Square, Retail, London E14 5AH
Phone: +44 345 740 4404
Web-site: https://www.hsbc.co.uk/
Swift code: HBUKGB4B
Reference number: 114216
Stock code: HSBA
ABN: 00014259
BSB: HBUK
Lloyds Bank
Head office’s address: 25 Gresham Street, London EC2V 7HN
Contact center: 0345-300-0000
Web-site: https://www.lloydsbank.com/
Swift code: LBGTGB22
Reference number: 119278
Stock code: LLOY
ABN: 00002065
BSB: LBGT
NatWest Bank
Head office’s address: 250 Bishopsgate, London, EC2M 4AA
Contact center: 0800-88-11-77
Phone: +44 345 788 8444
Web-site: https://www.natwest.com/
Swift code: NWBKGB2
Reference number: 121878
Stock code: GBP1
ABN: 00929027
BSB: NWBK
OakNorth Bank
Head office’s address: 57 Broadwick Street London, WIF 9QS, UK
Contact center: 0161-713-4071
Phone: +44 330 380 1181
Web-site: https://oaknorth.co.uk/
Swift code: OAKNGB22
Reference number: 629564
ABN: 8595042
BSB: OAKN
Royal Bank of Scotland
Head office’s address: 36 St Andrew Square, Edinburgh, EH2 2YB
Contact center: 0345-600-2230
Phone: +44 (070) 3597-88-42
Web-site: https://www.rbs.co.uk/
Swift code: ROYCGB2LCLS
Stock code: NWG
ABN: BR000548
BSB: ROYC