Commercial Loans

Commercial loans are for purchasing or refinancing freehold ( or long leasehold), owner-occupied or investment properties. Typical loan to values are around 50% to 75% maximum. Not all loans are asset backed and pure banking propositions are also under this category. Commercial loans are not regulated by the Financial Conduct Authority unless the loan is on your main residence and not for business use.

Loans up to 75% LTV – 100% with additional security
Easy application process
Competitive rates
Extensive panel of specialist lenders

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    Commercial lending is the domain of the retail banks and more recently the challenger banks.

    Specialist departments of building societies also undertake this activity. Due to the heightened risk in this sector LTV’s are conservative and the underwriting is more stringent.

    The banks look for your experience and the business profitability. The business has to demonstrate it can service the loan . We typically need a CV, Asset & Liability Statement, 3 years Business Accounts and 6 months bank statements. Where the asset is tenanted we need full details of the lease and tenant.

    Why choose us?

    Here are a few reasons to choose Chess Mortgages.

    Experienced advisers

    We’ve been advising clients on mortgages for over 40 years.

    We move fast

    No need to wait; we respond & process applications quickly.

    Whole of market

    We scour UK lenders, private banks & offshore lenders for deals.

    What you need to know...

    Do I need a business plan?

    Not all lenders ask for one but it’s a good idea to do one so you can document your plan.

    What is the typical interest rate ?

    It depends on the deal but rates are currently around 3.5% to 6% fixed for 5 years.

    Is adverse credit accepted?

    Some lenders will accept it but will reflect in the rate

    What is the typical term?

    The term is usually 5 years to 15 years REVIEWED every 5 years or at will.

    Is interest only an option?

    It can be with some lenders either for an initial term or the whole term

    What our clients say...

    "Excellent service and I would highly recommend to others"

    Had the pleasure of instructing Chess Mortgages. Jaz was incredibly professional and impressive in her handling of my remortgage application. My application was dealt with within a week! Excellent service and I would highly recommend Jaz to others. Thank you Jaz!

    Shaida Hussein

    "Award winning mortgage advisors & I can see why"

    Bob stepped in at very notice to assist us when we were in danger of missing out on our perfect home. We were impressed with advice we'd seen Bob provide on a forum, which was clear and sensible. It was later we found out that Chess are award winning mortgage advisors and I can see why.

    Iftikhar Ahmad

    "Chess was by far the best decision we made in looking for a mortgage"

    I can't thank Jaz and Bob enough for their efforts in helping my wife and I in secure a mortgage. The process was effortless and they took weight off our shoulders. Having gone through getting a mortgage a number of times, I can safely say using Chess was by far the best decision we made. I will be using them again.

    Shamit Rooproy

    Get in touch

    Speak to an adviser today via a free, no obligation consultation.