Business mortgages to suit all ambitions
Why choose Together?
We're one of the finance industry's best-kept secrets, and we've been helping people and businesses to achieve their ambitions for over four decades.
We're entrepreneurs. So we understand the pressures you face, and that business isn't predictable. It's why we apply the same flexible approach to every application, and get to know you and your circumstances to help us make our lending decisions.
By using our common sense in this way, we're often able to lend in circumstances that some other lenders struggle with – whether that's because of past credit issues, a short trading history, or the property itself.
Who are we for?
And while some lenders struggle to cope with this brave new world, we’ve always used our common sense, and taken a pragmatic look at real lives. We get to know the person behind the application, because you’re more than a credit score or payslip. You’ve got big dreams, and big plans. And we’re here to help you get there.
You can count on us to think outside the tickbox, and make sure an underwriter – not a computer – makes the final decision, every time. It's an approach that's more relevant than ever. And when everything changes again, we’ll be ready.
✓Team empowered to make quick decisions
✓Wide range of borrowing products offered
✓Can handle non-typical properties and incomes
✓Accept imperfect credit
Common questions about business mortgages
What is a commercial mortgage?
Commercial mortgages operate much like a personal mortgage, but are mainly used by business owners who are looking to buy commercial property or land for commercial use.
Can I buy a commercial property without a deposit?
With Together, you could borrow 100% of the value of your commercial property if you’ve got enough equity in another building to use as additional security.
Can I get a commercial mortgage on a residential property?
You can get a commercial mortgage on a property where 60% of the space has a commercial use. So if you’re buying a shop with a flat above it, or a B&B you plan to run and live in, you can apply for a semi-commercial mortgage.
Can I get a commercial mortgage on land?
Yes – we can lend on land for a range of commercial purposes, with or without planning permission.
How do you decide my interest rate?
The rate you're offered may be influenced by two factors:
How much you need to borrow as a percentage of your property's value.
Your credit history (but not your credit score).
How long does it take to arrange a commercial mortgage?
It typically takes several weeks to arrange a commercial mortgage. If you can't wait that long, we may discuss alternative options with you, such as a commercial bridging loan. In some circumstances, we can arrange these in a matter of days and they'll last up to 12 months – giving you the time you need to arrange longer-term finance.
What fees will I have to pay?
We charge a Lenders Arrangement Fee, and – if you come to us direct – a Processing Fee.
Our Commercial mortgages and loans include an Early Repayment Charge, which you'll pay if you elect to remortgage with another lender or repay your mortgage in full before the term ends.
We also charge a Redemption Administration Fee when you 'redeem' (i.e. full repay) your mortgage, to cover costs associated with closing your account and dispensing our legal claim to your property.
Our fees are typically charges as a percentage of the loan, so can vary. We'll ensure that the fees that apply to your particular mortgage are clearly explained before you sign on the dotted line.
Other fees and charges may be applied to your account during the life of your mortgage, in relation to the management of your account (for instance, if you fall behind on your monthly payments). These are all explained in our Tariff of Charges.
How much can I borrow, and how much deposit or equity will I need?
At most, we can lend you 65% of your commercial property's value. So you will need at least 35% as a deposit, or as equity. The maximum loan-to-value ratio we can offer may be reduced based on the nature of the property, the transaction (i.e. whether you're buying or just remortgaging), and your personal circumstances.
It's important to note that the property in question must be valued at a minimum of £50,000.