If your business is at the point where you have to buy a new property, you may need to take out a commercial mortgage to fund it.
Commercial mortgage rates are not standardised in the same way as residential or buy to let mortgages, instead each rate is individually priced to match the strength of the proposal. They generally run anywhere between three and 25 years and offer around 70% to 75% of the value of the property, though the lending rules can be tougher than a residential mortgage. But, as with residential mortgages, if you do not keep up payments on a commercial mortgage the property may be repossessed.
Your first step when considering a commercial mortgage is to understand the potential growth of your business, which will give you a firm idea of the budget available for repayments. A specialist broker can help you with this. A broker will also have the contacts and market knowledge to help get you the deal that works best for you and your individual circumstances.
We are able to offer competitive rates allied with excellent levels of service, including Bridging Loans – for short term finance, fast. We look forward to being of assistance and securing your Commercial Finance requirements.
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M: +44 (0) 7483 118 260
44-50 Royal Parade Mews
London SE3 0TN