Commercial Borrowing Secured Against Your Home Over 55s
At Rockhopper Later Life Finance we help customers aged 55 and over who are considering business borrowing secured against their home. Sometimes a business owner uses their residential property as security for commercial finance, perhaps to support a company or a venture. This is a significant step, because the home is at stake, and it calls for careful thought and the right specialist lender.
We work with customers who are:
- Own a business and are considering using their home as security
- Need commercial finance and have limited other security
- Are a company director weighing up borrowing against the residence
- Want to understand the risks of securing business debt on a home
- Have been asked by a commercial lender to offer the home as security
- Are planning business borrowing as they approach retirement
Putting your home behind business borrowing is a serious decision, and you deserve a frank explanation of what it means rather than a sales pitch. We set out the risks plainly so you can decide whether it is the right move for you.
Borrowing for business purposes secured against a home is usually arranged through specialist or commercial lenders. The assessment looks at the business as well as the property, and the terms can differ markedly from a standard residential mortgage.
The central point is risk. Because the borrowing is secured on your home, the property could be at risk if the business cannot meet the payments. You should be confident the business can service the debt, and it is wise to take independent advice before proceeding.
Commercial mortgages and many forms of business lending are not regulated by the Financial Conduct Authority, which means some of the consumer protections that apply to residential mortgages may not apply. We will always be clear about how your borrowing is treated.
We research the market and recommend the route we believe fits, and we may suggest you take independent legal and accountancy advice given the importance of the decision.
The Process
Your first conversation is an informal discussion about your circumstances and what you would like to achieve. There is no cost or obligation.
We complete a full fact-find and research the market for your situation. We then provide a written recommendation explaining the route we believe fits and why.
Every case is different, and our advice always reflects your particular circumstances.
Speak to a Later Life Adviser
Call 0203 621 5696
Lines open 9am to 5pm Monday to Friday. Alternatively, complete the enquiry form and we will call you back at a time that suits you.