Commercial
Loans
Information
on Commercial Loans
A
Commercial Mortgage or loan can be taken out to buy, extend, improve
or remortgage premises or even to reduce your existing interest
payments.
The
commercial property market has experienced a healthy growth for
a few years now and this is expected to continue over the next couple
of years. Due to the steady growth market, lenders have started
to be more flexible in their product offerings.
Until
recently, unless you knew the 'specialisms of the lenders', had
a 70% or better Loan to Value ( LTV ) and were looking
to repay the loan over a maximum of 15 years, it was difficult arranging
a mortgage on your commercial premises.
Also,
many Small and Medium Sized Enterprises ( SMEs ) looking for commercial
mortgages do not meet the audit threshold of the Companies Act and
therefore do not have the required audited statutary accounts for
a three year period.
Things
have improved and continue to do so, although it is still important
to know in which commercial sectors each of the lenders specialise:
retail, office, industrial, healthcare etc.
OCIS
provide general financial information, we urge you to consult an
Independent
Financial Adviser ( IFA )
before making any important decisions about your finances. |
