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Commercial Mortgages - Advice
Commercial mortgages can be a minefield – particularly for the unwary business person in the current environment where finance is increasingly hard to come by.
The credit crunch has made lenders far more cautious than previously, but the sharp decrease in applications for commercial mortgages also means that lenders are having to be more competitive.
These two opposing elements – combined with the sharp reduction in interest rates we have seen of late and the sharp falls in commercial property prices - has thrown up some excellent opportunities, particularly for long term value investors with cash to spare.
Commercial mortgages are available for different purposes such as own-use commercial property, investment, residential development, commercial development, business purchase, re-finance of existing mortgages - or simply to raise additional funds for business needs. They cover a wide range of properties such as offices, warehouses, shops, public houses, restaurants, farms, hotels, guest houses and investment properties.
For brave investors, there has - arguably - never been a better time to review commercial mortgage requirements, whatever the reason for doing so. But it’s certainly a time for well-funded individual investors and businesses of all sizes, to drive a very hard bargain.
In recent years, it seemed that property investors of all types couldn’t really go wrong. But the “one-way bets” taken by commercial property investors and businesses over the last decade or more are now very much off. The need to seek expert advice from companies with a long history of specialising in the field is greater than ever.