Post Office Money is a financial services sub-brand that’s owned and operated by Post Office Ltd. Providing many of the services that would be expected of a major bank or building society, Post Office Money offers a variety of credit cards, current accounts, insurance products, mortgages and personal loans.
A commercial mortgage, or business mortgage, is a specialist borrowing product for owner-occupiers. They are intended for companies and individuals who are re-mortgaging or buying a property that will be used for a company. Business mortgages may also be granted to those in possession of mixed use properties.
Available Types of this Financing Product:
Post Office Business or Commercial Mortgages that an owner-occupier may apply for are usually available for two primary business purposes: when a company wants to purchase a property that it operates from, or intends to buy a new building for relocation purposes.
Another usage of a commercial mortgage is where a company wants to buy a residential property with a view to renting the building out – either en masse or to a number of separate tenants. This particular type of financing is useful for landlords or commercial buy-to-let firms.
Similar to the above, a commercial mortgage can be used for business buy-to-lets. A typical example is where a company is looking to purchase a warehouse or storage facility with the intention of renting it out to another business in order to generate additional income.
Mortgages are always a substantial financial commitment. With regards to this, you need to be aware of exactly how much your mortgage will cost. The simplest method of discovering how much a mortgage will set you back is by using a mortgage calculator. These can be used for practically every conceivable mortgage type available, ranging from first-time buyer mortgages – through to buy to let or landlord mortgages.
Will the mortgage you apply for cover the cost of buying your perfect property? If so, are you worried about the size of your monthly repayments?
Even if you’re an experienced investor or a first-time buyer, online mortgage calculators can assist you with working out the figures involved with borrowing. A mortgage calculator is exceptionally simple to use and will provide an instant insight into the cost of repayments based on the amount required and the length of time you wish to borrow over.
This invaluable tool, often referred to as an APR or re-mortgaging calculator, is useful for several mortgage types – ranging from Buy-to-Let to First-Time-Buyer product. Always remember that these tools simply offer a quick indication of the amount you’ll need, because different mortgage providers have different ways of examining how much you can borrow and what they will charge.
The Help to Buy scheme has three main categories:
Post Office offers a number of different buy to let mortgage products that you can choose from, so you can be sure that you have the right one for your needs. They offer a 25% deposit with an LTV of 75%, a 30% deposit with an LTV of 70%, and a 40% deposit with an LTV of 60%. All of these will have their own time frames, benefits, rates, and charges that you will be expected to pay, so choosing the right buy to let mortgage for your needs is important.
The age range for customers applying for a buy to let mortgage is 21-80. Post Office will closely review your application to ensure that you are able to make your payments each month and they will also make sure that you do not have too much debt compared to your income. You have to live in a home that you own and your ability to pay your payments is based on the rental income that you will receive. The income has to be at least 145% of your monthly interest that you will be paying. With a term limit of 5-35 years, this mortgage is great for short or long-term needs.
A Help to Buy loan is designed to help first-time buyers get on the property ladder or buy a new home without a huge down payment.
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