| There often comes a time in business when you | | | | smoothly. One such convenience is that lenders often |
| want to maximize your company's financial assets. | | | | allow payment holidays of up to two years in three |
| Taking out a commercial mortgage is one way to | | | | month increments. This allows you to take a break |
| accomplish this. If you want to invest in or buy a | | | | from payments if your budget becomes a little tight |
| commercial property for the purpose of starting a | | | | for a short period of time. Another option is to take |
| new business or buying an existing business linked | | | | a fixed rate commercial mortgage. With one of |
| with a piece of property (such as a hotel, restaurant, | | | | these, your interest rate will remain static for a set |
| or retail store), a commercial mortgage loan will help | | | | period of time. This allows you to plan ahead with |
| you purchase the property you want. | | | | your budget because you will know what your |
| Commercial mortgages are also available for those | | | | monthly payments are going to be. |
| who wish to expand their existing business. Also, the | | | | The main categories of properties that are eligible for |
| money from your commercial mortgage can be used | | | | commercial mortgage loans are country properties, |
| to invest in residential or commercial property, | | | | health industry properties, investment properties, |
| develop property, acquire a remortgage on your | | | | leisure properties, professional properties, retail |
| current business property, or to repay outstanding | | | | properties, and healthcare properties.Some types of |
| debt, arrears, or CCJs. | | | | commercial properties for which additional security |
| Commercial mortgages are generally repayable over a | | | | may be required when taking a commercial loan are |
| term of 15 years or more. Your lender will require | | | | cafes, factories, shops, offices, residential investment |
| security before they issue the loan, and this security | | | | properties, warehouses & light industrial units, |
| usually comes in the form of the property itself. | | | | guest houses, public houses, B&Bs, wine bar |
| Commercial mortgages can be gotten from any bank | | | | restaurants & take-aways, boarding kennels, |
| or building society. Even if you have poor credit | | | | riding schools, Bookmakers, accountants, architects, |
| history, there are some lenders who will offer you a | | | | solicitors, and retail properties which include antiques, |
| commercial mortgage based on the credit value of | | | | auctions, art galleries, bakers, bookshops, car |
| your business. | | | | showrooms, butchers, beauticians, clothing, dairies, |
| Some lenders will do an investigation into the | | | | DIY, department stores, dry cleaners, financial |
| finances, business plan, and long-term financial | | | | institutions, food stores, footwear, funeral directors, |
| projections of your company in order to ascertain | | | | garages, gift shops, furniture, garden centers, |
| whether or not your business is stable and profitable. | | | | grocers, hire shops, hairdressers, leisure centers, |
| This is done in order to for your lender to be sure | | | | newsagents, nurseries, office equipment, off licences, |
| that there is a high likelihood that you will not default | | | | record shops, pet shops, sports shops, supermarkets |
| on your loan. | | | | and toy shops. A few types of commercial |
| A commercial mortgage is a large financial | | | | properties for which additional security is not required |
| responsibility, and lenders are aware of this. | | | | when getting a commercial loan are development |
| Accordingly, they provide a number of services and | | | | properties, amusement parks, snooker halls, bingo |
| conveniences to allow your repayment to go | | | | halls, cinemas, sports complexes, and leisure centres. |