Commercial mortgages

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.

Yes – we can lend on land for a range of commercial purposes, with or without planning permission. You can read more here.

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.

A buy-to-let mortgage is a mortgage on a residential property that you intend to rent out. You can get a Together Buy-to-Let mortgage on a property you're buying, or a property you already own and want to turn into a rental (like a property you've inherited).

If you're purchasing a commercial unit, office or other business premises as an investment and intend to rent it out, you’ll apply for a commercial mortgage instead.

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.

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).

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.

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.

We charge an 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.

Pricing models from one broker to another can vary. Many brokers won’t charge you anything for their service, as they’ll make their money by charging commission from your mortgage lender instead. However, you should ask them to confirm any fees in writing before you agree to go ahead.