SERVICES FOR BUSINESSES : Commercial Mortgages

Owning your business premises can be a source of great satisfaction and can also reflect your commercial success. In order to take ownership of your business premises, it is likely that a commercial mortgage would be required.
Businesses need to have a relatively secure financial history before applying for a commercial mortgage; this is because commercial borrowers are considered to be a higher risk in terms of loan repayment default than someone with a residential mortgage. The repayment terms, as a result, are not as cheap as residential mortgages and a sizeable deposit will be required.
The majority of commercial lenders are likely to lend between 60% and 80% of a property’s value. In addition, interest rates will be higher than those attached to residential loans are typically between 2% and 4% above the Bank of England base rate.
Our team at Perredon can help you find the best deal for you and also assist you in claiming back some of the costs of a commercial mortgage through tax allowances and other grants which you may be eligible for.


 

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Perredon Financial Solutions Ltd is authorised and regulated by The Financial Services Authority. The Financial Services Authority do not regulate Banking, Will Writing, Loans, Credit Cards or some forms of Mortgage, Tax Advice, Offshore Investments, Long Term Care, Estate Planning.
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Perredon Financial Solutions Ltd is authorised and regulated by the Financial Services Authority

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