No matter what sector your business is in, there could be a solution to finance the purchase of a commercial property with a mortgage. However, the quirkier the scenario, the higher the deposit a lender is likely the require.
Additionally, remortgaging an existing debt to a new lender can often save large amounts in interest if a better deal can be found. Even if early repayment charges may apply, it can still be financially advantageous if a significantly better deal can be found.
The information that we would typically require to be able to help with a commercial mortgage enquiry would be:
- As much information as possible about the property you want to buy.
- Property valuation.
- How much cash for a deposit do you have available?
- A brief explanation of your business and activities.
- Last 2-3 years full accounts for your business where possible.
- An indication of your trading figures for the current tax year.
- Does your business have any assets?
- Has the business ever has any issues with credit such as defaults or CCJ’s etc?
- Any other information that you feel could be relevant.