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Get a Mortgage For a Property Near Commercial Premises

Only have one year of financial accounts? Borrow up to 6 times your income.

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The Intermediary

We Specialise In Self-Employed Mortgages

Boost Your Borrowing

Boost Your Borrowing

Borrow up to 6 times your income with only one year's accounts. We have access to specialist income boosting lenders not available to the general public. 

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No matter if you are a limited company director, sole trader, partner, freelancer, landlord; we have the right mortgage solution for you. 

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Keep Money In The Bank

Keep Money In The Bank

You only need a 5% deposit (or equity if a remortgage). This will allow you keep back money for home improvements, debt consolidation, future purchases, etc. 

Self Employed Experts.

Unlike most mortgage lenders, our team understands financial accounts.

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Latest Year Figures

Retained Profit

Gross Profit

If there is an upward trend in income across the last few years, it makes sense to your latest year only (instead of averaging).

If you decide to keep money in the business, this can still be used in the affordability calculation. 

Our lenders will consider using gross profit, instead of net profit, which will help to maximise your mortgage.

In this self-employed mortgage guide:
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  • Is it possible to get a mortgage with only one year's accounts?

  • Which lenders will consider just one year's accounts?

  • What evidence do I need?

  • How much can I borrow?

Can I get a mortgage near commercial premises? 


Yes it is possible to get a mortgage near commercial premises. However, not all lenders will accept this. This is because properties near commercial have lower demand from buyers. It is often seen as a negative due to the potential noise or smell of the commercial premises. Although in some instances it can be a positive, if close to an attractive landmark / shop / restaurant/ pub. Additional, if the property is in a city centre, it is likely to be less important, compared to a rural property. This is because city centre properties tend to have higher demand and buyers are expecting a certain level of noise/smell due to the busy location. 


Does the type of commercial premises matter? 


The short answer is yes. There is list of commercial premises that certain lenders will not allow. These include:

Bars

Pubs

Nightclubs

Takeaway 

Dry cleaners

Garage

Gambling shop


If your current property or a property you are looking to buy to next to, above or below one of these commercial premises, it doesn’t mean it is unmortagagable. However it is does make it much harder to get a mortgage. Additionally, it is likely you will only find this out later in the process, once you have paid your valuation fee. These are often non-refundable. It is best to discuss your property with a mortgage advisor. 


Higher risk lending


If the security property is near a commercial outlet, it is seen as higher risk lending. As a result, interest rates tend to be higher than a standard property. 


However, you may be able to save money on the purchase price, as these type of properties tend to attract less buyers (especially as it is difficult to get a mortgage). 

 

What deposit do I need? 


You are likely required to put down a larger deposit for a property near commercial premises. Normally 15% is required. However, it is sometimes possible to get a mortgage with a 5% deposit. 


Access to property? 


It is important to consider the access to the property. If the property has shared access, rather than it’s own access, it may be difficult to find a lender. 

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