Can you get a mortgage on a commercial property?
Yes, you can get a mortgage for a commercial property, but it’s different from a residential mortgage.
Commercial property loans, often called commercial real estate loans, are typically offered by banks or specialised lenders.
These loans usually require a larger down payment, often 20-30%. Interest rates may also be higher, and the loan terms are generally shorter than residential mortgages.
Lenders will also look closely at the property’s income potential, such as rental income, as well as your personal financial stability and business history.
We recommend speak to a commercial mortgage broker or lender to explore your options and find the best loan for your needs.