A commercial mortgage is a loan secured on a business property, normally to purchase it, but not exclusively so.
You might be presently occupying a property under a lease and have the opportunity to purchase the freehold, or you could have identified a new property, possibly with development potential. In either scenario a commercial mortgage could be the right funding vehicle.
Commercial mortgages can also be used as secondary security, for example, for a merger or acquisition.
Terms for commercial mortgages can be long, possibly up to 30 years, but are most often between 5-10 years. Interest rates are normally competitive because of the quality of the security the property represents.
Things to look out for when considering a commercial mortgage are:
The services of a knowledgeable business finance broker can be particularly useful with a commercial mortgage, so talk to us about the criteria, costs and service offered by the range of lenders that we deal with.
“We are delighted – Tamara has helped us with arranging different business funding from different lenders to match our needs as we have expanded”COMPLETED DEALS & MORE…