Where Can You Get A Commercial Mortgage?
If you are considering raising finance of at least £25,000 for commercial purposes such as buying premises, plant and machinery or even to increase your marketing spend then you are possibly going to require a commercial mortgage. However, the potential problem is that there are so many providers of such finance.
Having said that, is it really a problem? No, because the more lenders providing such finance the better from your point of view. These lenders will be competing against one another in order to obtain as much business as possible.
For instance, one lender may be prepared to arrange the finance at an interest rate that is 0.5% less than someone else or reduce the arrangement fee by several hundred pounds. Another may agree to pay for the valuation fee and/or the legal fees.
How long your business has been established and your credit rating may have a bearing upon where you can arrange such finance. For instance, if you/your business has a poor credit history this will limit the number of lenders that will consider a commercial mortgage application.
Yes, you could choose just to contact your business bank manager where you maintain your current account but who is to say that they are going to offer you the most suitable deal possible. Another option is for you to directly make contact with numerous high street lenders i.e. banks and building societies that offer such finance. Very commendable but that means you are going to have to give up an awful lot of time doing this sort of “leg work’ – time that would probably be better spent focusing on running your business. Of course, there are other specialist commercial lenders that you don’t even come across in the high street who many people have never heard of.
So, you really are better off contacting someone like Commercial Mortgage Link. We have many years experience and an extensive panel of commercial lenders to ensure that your proposition is placed in front of the lender that should be able to provide you with the most suitable commercial finance package.
We look forward to hearing from you.