Why choose a Together Commercial mortgage?

We're one of the finance industry's best-kept secrets, and have 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.

Common questions about commercial 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 get a commercial mortgage on land? 

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

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.

What’s the difference between a commercial mortgage, and a buy-to-let 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.

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.

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 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.

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.

What fees will I have to pay? 

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.

How much does a broker charge? 

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.