Barclays Bank offers mortages through their mortgage arm "the Woolwich". Barclays acquired the Woolwich Building Society in 2000 and is the fifth largest lender in the UK. There are many products to choose from with many listed in the "best buy" tables.

  1. Buy-to-Let Mortgage
  2. Fixed Rate Mortgage
  3. Tracker Mortgages
  4. Mix and Match Mortgages

What is a Commercial mortgage?

Commercial mortgages are used to buy business premises or to buy an existing business in its entirety. It is a type of loan thatis secured on property which is not your residence.

Getting loan sanctioned on a commercial mortgage depends on the ability of your business to make the repayments. When you apply for commercial mortgage options, lenders will assess your business before quoting you an interest rate.

how Barclays Commercial Mortgage Work in UK

Commercial mortgages can be used in two ways:

  1. Commercial Mortgages allow a company to expand their business by purchasing new property, a location that better encompasses the business ambition and supports quality infrastructure
  2. Commercial mortgages can allow the business to release the equity of an existing property and its value, and therefore potentially expand into other areas.

Barclays Commercial Mortgages: Things to Consider

  • To apply for Commercial mortgages with Barclays, they are required to be a minimum value of £25,000.
  • The option to pay only interest on the loan for the first 2 years
  • Loan terms can be structured up to 25 years
  • Fixed rate terms from 1 to 10 years, variable interest rates can be applicable for term more than 10 years
  • Prepayment fees may apply if you repay all or part of your loan before the expiry of the agreed term
  • Lending fees and associated borrowing costs apply and can be added to the loan
  • For fixed rate loans, if you decide to pay or cancel the fixed interest rate you may have to pay breakage cost in addition to other fees such as prepayment fees
  • Option to use Enact, our chosen provider for fixed price conveyancing

How to apply for Commercial Mortgage with Barclays?

To check your eligibility for a commercial mortgage option with Barclays, you'll need to provide the following details to the bank.

  • Three full years' audited or certified accounts plus current management figures
  • Bank statements for 2 months
  • Assets and liabilities statement
  • Last three months' payslips
  • latest P60 (employees only)

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