Buying/re-mortgaging Business Premises

Purchasing Commercial Property

If you are looking to purchase business premises 'Mortgagehunters' can find a solution to most problems. We can deal with most types of freehold and leasehold property:

• Factories
• Offices
• Shops
• Industrial Units
• Warehouses
• Blocks of Flats
• Farms/Stables
• Health Surgeries
• Guest houses and Hotels
• Nursing/Care homes
• Leisure/entertainment premises
• Car Showrooms/Garages
• Shopping centres

Obviously the above premises can have a variety of uses, so if you are opening a 'Takeaway' or 'Veterinary Surgery', 'Garage' or 'Funeral Parlour' we will do our best to find you an excellent deal.

Please bear in mind that lenders will only consider 'Asset Based' lending. That means there must be some land or bricks and mortar value. We are unable to help you where you need money advanced against goodwill or stock in a business operated from rented premises. The exception to this is for Doctors, Dentists and Veterinary Practices where lenders take a different view and will lend for Purchasing the practice and help with working capital.

Asset Value

The lender will need to undertake a valuation of the premises and will normally advance a percentage of the value. The percentage will depend on the property, the amount you want to borrow, and your ability to repay.

Terms

Some lenders will not require proof of income on a commercial mortgage, asking you to pay a slightly higher rate of interest to offset their perceived greater risk. The interest rate margin usually reflects the experience of the borrower and the financial strength of the proposal.

Property Developers

We have lenders amenable to lending for the development of Greenfield and Brownfield sites. In some cases they will lend a percentage against the purchase of the land and the development costs. It is possible to arrange for the interest to be 'rolled' up until the end of the development to assist the developer's cash flow.

Other Finance

We are able to assist you with:

• Bridging Loans
• Secured Loans
• Low Start Payments
• Commercial loans with poor credit history
• Land acquisition finance
• Residential refurbishment finance
• Car and Fleet Finance

Regardless of your needs contact us now for an initial consultation.

Re-mortgaging your business Premises

Moving your mortgage from one lender to another is known as re-mortgaging.

It's a good way to escape high variable or fixed interest rates and take advantage of any lender offers which have much lower rates. If you are a young company and need a commercial mortgage the lender will often impose a higher rate as you have little track record. However once your business has grown you may be a more attractive prospect to an alternative lender. In this case we can often find you a better rate and reduce your financing costs.

Re-mortgaging is also a way to raise funds for an expensive purchase. If you have owned your business premises for a few years it could be worth much more than your outstanding debt. Your current lender may be unwilling to advance further monies, or you may just wish to take advantage of better rates. Either way re-mortgaging is a good idea. However depending upon what you are looking to purchase don't commit yourself until we have looked at other alternatives which may be more prudent. Have a look at our other commercial pages to see if you can identify with the other options.

As there is no sale involved, there are no contracts to prepare, so the process should cost less than buying your premises.

Getting the right mortgage

Choosing the right mortgage is probably the biggest decision you'll have to make when buying or re-mortgaging your business premises or commercial investment property.

We can help make the whole process much simpler. We can offer you expert guidance and help take the worry out of finding the right mortgage/re-mortgage. Not only will it help you decide on the right type of finance, we also help you find the best deal. And with access to commercial finance from a wide range of the UK's commercial lenders, you can be confident the mortgage we recommend is ideal for you.

Ring us now for assistance

 

 

The products and services promoted here are not part of the Offering and are offered in our own right. Limited accept no responsibility for this aspect of our business. These products are not regulated by the Financial Services Authority.