Arranging a commercial mortgage secured on
a business property is different to arranging a residential
mortgage and clients are much more likely to rely on their
own bank than approach other lenders, not fully understanding
how to package, negotiate or secure the best possible terms.
We have both the expertise and contacts to take this laborious
process away from you and with access to a large number
of commercial providers we look to secure the best terms.
Unlike a residential mortgage the bank will
offer terms based on the individual business proposal and
there is more scope to negotiate on behalf of our clients
a favourable rate with a bank. The factors taken into account
by a bank are therefore your financial position, your credit
score, your circumstances and the sector in which you operate.
As with a residential mortgage the rate, fees, flexibility,
repayment method, loan amount and security sought are all
factors that need to be taken into consideration.
There are certain lenders who specialise in
non status or business forecast commercial lending for businesses
without the relevant proof of income or with an adverse
credit history. Some specialist lenders are also able to
lend at higher loan to values than traditional high street
banks on development and commercial investment properties.
These lenders will base their decision much more on the
security offered by the property, however the trade off
is that their rates may be higher.
Commercial lending also includes non
property secured loans, for example asset finance for those
who wish to raise money against assets held in a company
name.
Your property may be repossessed if
you do not keep up repayments on your mortgage.
Please note that Commercial business conducted
through Bank of Scotland, Natwest and Northern Rock are
offered through Openwork Limited. Other Commercial products
and services promoted here are not part of the Openwork
offering and are offered in our own right. Openwork Limited
accept no responsibility for this aspect of our business.
These products are not regulated by the Financial Services
Authority.
