Interest Only Mortgage On Commercial Property

[Chloe Brown Summers]

Good evening
We own a commercial investment retail property with a current LTV of 40%
The current loan is repayment plus interest and this limits our cashflow
Does anyone know any banks/lenders that will offer an interest only loan?
Alternatively we were thinking of selling a couple of buy to lets to pay off this loan, however, we are aware that this loan interest can be off set against income tax for now
Any suggestions/advice would be very welcome
Thanks

 

[Frank the Insurance guy]

Hi Chloe,

I know a firm that specialises in Commercial mortgages - I will be happy to put you in touch.

If this is of interest, please message me.

 

[Mark T Jones]

@Gordon - Commercial Finance

 

[Gordon - Commercial Finance]

@Gordon - Commercial Finance

Thanks Mark.

There are a number of lenders who will do interest only commercial, but whether you can get it or not will depend on a huge range of individual circumstances.

I don't see an obvious benefit in selling BTLs to pay off the loan. Might as well take the tax advantages while they're available, although again whether this is the best move or not depends on many individual factors....

 

[Vin Gupta]

You need to speak to a specialist mortgage broker that can find the right the right deal for you

Commercial mortgages are based on cashflow rather than a bricks and mortar valuation. So if you have a good tenant on a long lease, then that will help you find a good lender