| Are you looking for brokers
who can secure highly competitive terms and manage the whole
lending process for you? As truly
independent commercial mortgage brokers, Almondbury Finance,
based in Huddesfield, West Yorkshire, will work in
close partnership with you to provide a range of innovative
commercial finance products, secured against different types
of commercial or residential properties.
Our vast experience and understanding of
the commercial mortgage marketplace also gives us the ability
to secure competitive rates with all the principle lenders.
In addition, it enables us to provide bridging loans where
necessary.
A commercial mortgage can sometimes be a
necessity when entering into a business, for example when
buying a business that is tied to a property such as a hotel
or public house. In such cases, unless you have the capital
to cover the purchase cost, you will require a commercial
mortgage to finance the buying of the business premises.
Owning the property that your business resides
in can provide a far greater level of security compared to
renting. You will have a friendly landlord and the business
will have a large asset to fall back on if times are hard.
The property could be liquidated Or refinanced and the proceeds
used to help the business to get back on its feet.
Even if your business is not tied into a
particular property, you may still find that a commercial
mortgage is for you. Renting premises is fine for short to
medium term, as it gives you flexibility and lower initial
costs, however if you plan to stay in a premises long term
you may find that buying could not only give you added security
but also save your business money. When renting your are paying
for the use of the property on a monthly, yearly or other
such basis – at the end of the rental term you won’t
have anything other than the time rented in return. A mortgage
may require higher monthly payments, but at the end of the
term your business will own the premises – something
which could be a highly valuable asset.
Obtaining a commercial mortgage will be
dependant on a number of factors that the lenders will take
into account, the most significant will be the credit history
and financial stability of the business in question, along
with its financial projections for the future. Most lenders
will also take into account the personal credit rating of
the individual listed as the owner of the business.
Commercial mortgages can be used for a number
of applications, such as the purchase of new business premises,
raising finance for extending current premises, residential
and commercial investment as well as funding property development.
Provided that you and your business are
judged to be credit worthy, organising a commercial mortgage
should be relatively straightforward. However, you should
be aware that some lenders will place restrictions on the
uses of properties funded through them, so make sure you are
clear on the terms of the mortgage before you enter into it.
more... |
