As with any conventional type of mortgage, a lender’s criterion is defined by an applicant’s ability to repay the loan. Lenders will require evidence that a borrower’s business is profitable therefore, with at least two (or in some cases three) years of filed accounts (if you are trading as a limited company), and a detailed repayment plan. Most lenders will expect a deposit of at least 30%, although it is sometimes possible to use another property as an additional security if you can’t afford this. Investors looking to develop commercial properties for letting purposes meanwhile, will need to show that they own (or have owned) at least two buy to let properties and that they have had experience of the sector for a minimum period of 12 to 24 months (depending on the lender).
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Whole Market Access