Commercial property in Hove
Hove's main commercial streets are Church Road, George Street, Blatchington Road and the Hove end of Western Road, with independent shops, cafés, restaurants and professional offices. Portland Road and Boundary Road have more local shops and services. Many of these buildings are mixed-use, with commercial space on the ground floor and flats above.
Towards the western edge of Hove and into Portslade, the eastern end of Shoreham Port and nearby trading estates provide industrial units, workshops and warehouses. Around Hove station there are offices used by professional and creative businesses.
Conservation areas cover much of central Hove, so planning and listed-building rules can affect changes of use, alterations and what a lender will accept. Lenders also look closely at mixed-use buildings where the flats are let separately from the shop, to understand the income from each part.
Commercial finance we arrange in Hove
We arrange commercial finance for:
- Owner-occupiers buying or refinancing the premises their business trades from, such as a shop, workshop, surgery or office.
- Investors buying let commercial property, where the lender looks at the lease, the tenant and the rent.
- Semi-commercial or mixed-use buildings, typically a shop or office with flats above.
- Larger HMOs and multi-unit blocks that fall outside standard buy-to-let criteria.
Hove's period buildings often combine a shop with one or two flats above, which is classic semi-commercial lending. The terms depend on the balance of commercial and residential space.
Speak to a friendly, expert Mortgage Adviser about your unique mortgage needs.
We'll search 1000s of products for the best mortgage and present our advice to you.
Your Adviser will complete your application, liaise with the lender and you, keep you informed until completion.
What commercial lenders look at
Each commercial case is assessed individually. Expect a lender to ask for business accounts or a projection, a schedule of existing borrowing, details of any leases and rent, and a full commercial valuation. The loan size usually depends on both the value and the income, and many lenders lend up to around 70% to 75% of value on the right property and borrower.
Not every deal fits a commercial mortgage straight away. Auctions, part-vacant buildings and properties needing refurbishment are often bought with bridging finance first. Some owners use a SIPP or SSAS pension to buy business premises; we can work alongside your pension adviser and accountant.
Commercial mortgage advice in Hove
We look across specialist and mainstream commercial lenders, including ones that do not deal direct with the public. We are directly authorised by the Financial Conduct Authority (FRN 925926) and rated 5.0 stars from 109 Google reviews. We are based in Hastings and most Hove clients work with us by phone or video, with documents uploaded securely; you are also welcome at our Hastings office.
We explain our fee and how we are paid before any work starts. Contact us or call 01424 444597 for an initial chat.
Frequently asked questions
Can I get a commercial mortgage for a Church Road shop?
Yes. If you will trade from it, the lender looks mainly at your business accounts. If it is let, the lender looks at the tenant, lease and rent. Mixed-use buildings may suit a semi-commercial lender.
Do you arrange finance for industrial units in Portslade?
Yes. Owner-occupiers and investors can both use commercial mortgages for industrial and trade units, assessed on the business or the lease.
Can a new business get a commercial mortgage?
It is harder but sometimes possible, especially with a larger deposit, relevant experience or other assets. Lenders will want a business plan and projections. We will tell you honestly whether it is worth applying.
How much deposit do I need for a commercial mortgage?
Typically 25% to 40% of the value, depending on the property, the business and whether you will occupy it or let it. Stronger cases can sometimes borrow more. We will give you a realistic figure once we know the details.
Can I buy my business premises through my pension?
Some business owners buy premises through a SIPP or SSAS. The pension owns the property and your business pays it rent. This needs advice from a pension specialist and your accountant; we can arrange any borrowing alongside.
Important: Commercial mortgages are generally not regulated by the Financial Conduct Authority. If you or a close family member will live in at least 40% of the property, the loan may be regulated and we will tell you which applies. Your property may be repossessed if you do not keep up repayments on a loan secured on it.
Transparent Mortgage Services is a trading style of Transparent Financial Associates Limited, which is directly authorised and regulated by the Financial Conduct Authority (FRN 925926). 17 Havelock Road, Hastings, East Sussex TN34 1BP. Telephone 01424 444597.
