What is a commercial mortgage, commercial loan or business mortgage?
When seeking commercial finance you are entering a complex area of funding involving many product types. As there are no 'off the shelf' products for this type of lending, the same proposal could be declined by one bank manager and offered on different terms by other managers of the same bank. Therefore, it's important to know how to present a proposal and not just to which lender but also which person in which lender to achieve optimal results. Having operated in this sector since 1990 we like to think we have built a solid reputation with the right contacts.
Whether you need a commercial mortgage, a commercial loan, a business mortgage or indeed asset based finance or an investment mortgage will all depend upon the nature of the commercial property in which you are seeking to invest and your own current circumstances. The term commercial property encompasses all business premises, offices, industrial, retail or a combination of these alongside residential units. In addition a Commercial Mortgage may also be the most cost effective solution for the purchase of an HMO (House of Multiple Occupation) even though this type
of property is entirely residential.
The type of finance available to you will depend upon whether the premises will be owner occupied or are to be made available for commercial letting. The lending rates, Loan to Value (LTV), fees and the amount you can borrow are all dependent upon the lender's assessment of perceived risk, location, lease terms, industry sector and profitability.
We only refer business to specialist Commercial Finance Brokers, all of which are members of the NACFB (National Association of Commercial Finance Brokers) who subscribe to a Code of Practice registered with the Office of Fair Trading and who carry substantial professional indemnity insurance for the advice they provide.
Your request for contact will typically be followed up the same day during office hours.
If you have any questions please do not hesitate to contact us 9-5 Monday to Friday: 01603 428500