A commercial mortgage may be described as the type of loan that is obtained on properties that are not your own residences. Buy to let advances may be classified as high volume commercial mortgages. Money lenders and bankers remain cautious when advancing loans. They often take the property as security that the borrowers buy. It may be to the tune of seventy percent of the value of the property while a cash deposit for the balance amount of the purchase value may be asked. Those not having sufficient cash with them may offer additional security in the shape of other property that is considered as the equity. It can be a charge over other assets too like the shares or insurance policies. [Read more…]
