A commercial mortgage is a loan secured on a property that is not your residence, which you want to buy for business purposes.

For those looking to finance the purchase of buildings and land for business purposes, a commercial mortgage is probably the best choice, with it being a flexible and affordable option.

They tend to have higher interest rates than residential mortgages, and more variables, but they offer more incentives for borrowers and greater flexibility.

However, until the loan has been fully repaid, the lender has a legal claim over the property, and may foreclose on the property if you fail to meet the repayments and the mortgage goes into arrears.

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Whether you're a first-time buyer or already a property owner you could buy a new home with a small deposit of 5%, heres how.

How Help to Buy Equity Loans Work

  • First time buyers and those already on the property ladder can apply.
  • To qualify a 5% deposit is required.
  • A 75% mortgage must be secured from your bank or building society.
  • The remaining 20% of the property’s value is funded by an equity loan provided by the Government.
  • House prices can’t be more than £600,000 in England and £300,000 in Wales.