Commercial property in Rye
Rye's commercial property is shaped by its history and its visitors. The High Street, Market Street, Lion Street and the streets around the Strand are lined with independent shops, galleries, cafés, inns and restaurants, many in listed buildings with living accommodation above. Around the Strand Quay, former warehouses now house antiques dealers and other businesses.
Outside the town centre, Rye Harbour has a working harbour, boat yards and industrial uses, and there are business premises on small estates around the town. Camber and Winchelsea add hospitality and tourism businesses, and the surrounding farmland supports agricultural and rural businesses.
Many Rye commercial deals are semi-commercial, such as a shop or tearoom with a flat above, and many involve listed or very old buildings. Lenders need a valuer who understands the property, and the business's trading history matters for owner-occupiers. Our local guide includes more on Rye's historic buildings.
Commercial finance we arrange in Rye
Our commercial mortgage service covers four main situations:
- Buying your own business premises rather than renting, or refinancing premises you already own.
- Commercial investment property let to one or more business tenants.
- Mixed-use property, such as a shop with a flat or maisonette above.
- Large HMOs and multi-unit residential blocks, where specialist or commercial lenders are often needed.
Inns, guest houses and restaurants are trading businesses, so lenders look at their accounts and seasonality. Fewer lenders cover licensed premises, and listed buildings can take longer to value.
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
For owner-occupied premises, the lender looks mainly at the business: usually two or three years of accounts, how profitable it is and whether it can afford the repayments. For investment property, the focus is on the lease length, the strength of the tenant and the rent compared with the loan. Lenders commonly lend up to around 60% to 75% of the value, depending on the property and the borrower, and terms often run up to 25 years.
Valuations take longer than on a house, and lenders' solicitors look closely at leases, planning use and title. Where a purchase needs to happen faster or a building needs work first, bridging finance can be used and then refinanced onto a commercial mortgage. Business owners can sometimes buy premises through a SIPP or SSAS pension; that needs pension and tax advice alongside the lending.
Commercial mortgage advice in Rye
Russell Braiden CeMAP and the team arrange commercial and semi-commercial finance across Sussex and Kent. We are directly authorised by the Financial Conduct Authority (FRN 925926) and rated 5.0 stars from 109 Google reviews. We are based at 17 Havelock Road in Hastings and can visit you at home or at your business around Hastings and Bexhill, or talk by phone or video.
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 mortgage on a listed shop with a flat above in Rye?
Yes, through semi-commercial lenders that accept listed buildings. The valuation may take longer and the lender will want to know about the condition and any restrictions.
Do you arrange finance for Rye inns or guest houses?
Yes, through specialist lenders. They will want trading accounts and will value the business as well as the building, and deposits are usually larger than for a standard commercial property.
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.
