Commercial Mortgages
If you're looking to buy a business that is directly linked to property, eg commercial property, shop, business premises, warehouse, factory, hotel or retail outlet. Then the best way raise the cash to do it would be through a commercial mortgage. Commercial Mortgages are typically set over a term of 15 years or more and the property itself is used as security by the lender. Should the borrower go into arears the lender can reposses the property as they will hold the deeds up untill the borrower redeems the mortgage in full.
To find out more information on commercial mortgages lending criteria click on the link.
Banks and building societies are obvious candidates for commercial finance, but may not necessarily be the best option. There are commercial lenders who specialise on certain market sectors because they are themselves experts in that particular field of lending.
Click on the link to find out about the different types of lenders of commercial finance.
There are different fees and costs involved when taking out a commercial mortgage including an arrangement fee and legal and professional fees.
Commercial mortgages brokers are in the best position to help you secure the finance you need, they guide you through the application process increasing your changes of getting the funding you require first time. Further benefits of using a broker can be found here.
The Financial Services Authority does not regulate most Commercial Mortgages
At North Mortgages our Mortgage Experts will take care of everything on your behalf. Remember, we source mortgages from the whole of the market, so you know your getting the best deals available and all tailored to suit your personal circumstances.
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