Whether you want to buy the business premises, or you are looking at a tenanted office block to rent out, a commercial mortgage is probably the most straight forward way of financing your purchase.
Commercial mortgages can be used for any business property transaction, from buying a building rather than leasing, to purchasing a complete company or even to unlock equity in commercial buildings you already own.
Finding the best fit for your individual proposition
At Access, we have extensive experience in commercial property finance that includes a track record of buying derelict buildings and transforming them into leisure venues,- yes and a substantial history with buy-to-let. Our knowledge and contacts mean we will always look hard for favourable rates, and we have the expertise to truly understand your requirements to try and find a package that is a good fit for your business.
When you are looking for a commercial mortgage, you usually have complex requirements – we know that buying a business park to rent out is not the same as purchasing a car showroom or a nightclub, for example.
Understanding your plans, potential and projections
While we will need to get a detailed picture of your past company performance or an in-depth business plan if you are buying a new venture, we are also interested in your projections and plans for the future. We like to see potential rather than just problems, and we excel at looking hard for finance solutions even after other providers might have given up.
Commercial mortgages can generally run from one-40 years, and you will usually need a 25% to 40% deposit. Mortgage rates will vary, and are usually based on an individual business proposal, as well as your company’s credit rating – your personal financial history will be taken into account as well.
Commercial mortgages are a great source of medium to long-term borrowing if you want to buy your own premises or make profit out of property. Some of the solutions we have provided include:
- Commercial mortgages for investment landlords
- Commercial mortgages for car showrooms
- Commercial mortgages for bard
Please think carefully before securing a loan against your property. Failure to maintain agreed repayments could negatively impact your creditworthiness, and may also put your property at risk.