Warrington Corporate Mortgage Advice
Are you considering taking out any form of corporate commercial lending to finance your company? Most business owners go direct to their high street banks (lenders) as they tend to have a long standing relationship with them. However, we help to find tailored solutions from lenders across the whole marketplace.
These solutions can be tailored towards your business needs and offer greater flexibility than a rigid off the shelf solution offered by the high street lenders. Contact our independent commercial lending team at Assured Wealth and Estate Planning to find out more.
Lending is available on so many different types of property:
- Warehouses and factory units
- Public Houses
- Hotels, guest houses and licensed premises
- Farms and other agricultural land
- Leisure Industry
- Office accommodation
- Residential investment property
- House of multiple occupation (HMO’s)
- Retail and Commercial units
- Professional practice premises
- Care homes
- Semi-commercial premises with living accommodation above
Pension funds can be utilised to acquire these assets through a regulated Self Invested Personal Pension (SIPP) Small Self-Administered Scheme (SSAS), offering borrowing up to 50% of the pension value.
As an independent broker and commercial finance consultancy, our Warrington Corporate Mortgage Advice team can provide access to variety of mortgages and lenders from our extensive panel. We operate a system which encourages lenders to competitively bid for our clients’ mortgage applications. This ultimately means better rates and terms for our clients.
All of our mortgage deals are designed around our clients’ needs and cover the entire range of mortgage options including:
- Repayment and Interest-only payment types
- Short and long-term repayment programmes
- Fixed and variable rates
- Arrangement fees added to the loan
- Up to 80% funding available on an individual property and up to 100% funding with additional security provided
- Short term VAT loans available to avoid you having to fund the VAT on a property purchase from your business cash flow
- Government funding schemes and incentives
Commercial Mortgages & Business Loans – It’s cheaper to buy and the property than to rent one.
Invoice Finance –Helps to grow or assist with cash-flow issues. We will shop around for the best deal on the open market for free! We have lenders that can do NO Personal Guarantee’s & Selective/Single Invoicing, where clients can pick and choose which invoices to factor.
Company Acquisition Funding – Looking to buy a business or expand.
Unsecured Loans up to £250k to businesses – Unsecured loans for Sole Traders and Limited Companies – particularly useful for good businesses that just don’t have the assets that the banks want as security!
Bridging / Short Term Finance (including Auction Loans) – where you need quick access to funds, if it doesn’t fit standard mortgage criteria, purchasing a property at auction, completing a quick home refurbishment, any purpose!
Property Development Funding – Lending 100% of the build costs for clients looking to build property to make money or rent out
Asset Finance – raising monies to purchase kit, new vans etc, or capital raising on existing kit
Refinance of commercial property – If you own a property in your business and need to raise funds, we can advise on re-mortgage options, releasing funds quickly and efficiently.
Commercial loans can be used for a variety of purposes, including purchasing additional business premises, expanding your business, debt consolidation, cash flow and property development.
Lenders consider a number of factors such as the security available, financial accounts, clients experience and credit history before determining a rate.
Secured or unsecured lending
Commercial mortgages generally take over from business loans. Business loans up to £25,000 are unsecured, but for larger amounts lenders need to secure loans against assets, in order to reduce the risk to themselves. Because of the legal and administrative costs of taking security on commercial property it is considered uneconomic to borrow under £50,000 this way, and some lenders have a minimum of £75,000 or more.
Generally lenders take the asset you are buying as the only security for the loan, which is typically 70% of the value of the property, and ask for a cash deposit for the balance of the purchase price.
Can I get a mortgage on a leasehold property?
Most lenders will only lend funds if the lease is more than 70 years. Otherwise you will require additional security.
How long do commercial mortgages run?
Commercial mortgages typically range from 3 to 25 years. Shorter term finance is also available and this may be called a bridging loan or property development loan, which you may have from a few weeks up to 24 months.
This is a short term loan that provides fast access to funds when it is needed most. Bridging loans can be used to raise funds for any legal purpose and are designed to last for no longer than 12 months and require you to have a strategy in place to ensure that you can repay the loan.
To provide an example, bridging finance may be suitable for people who purchase a property at auction, where funds are required quickly. It is much quicker to arrange than a normal residential mortgage; on average 7-10 working days from the first enquiry to completion.
Bridging finance works well with this type of purchase. If your bank is unable to get the funds to you within the 28 days allowed, you could bridge the gap, purchase the property and keep your deposit and simply repay the bridging loan once the mortgage is in place.
Do you have a HMRC or VAT bill to raise funds for? Perhaps looking at a bridging loan to repay the bill until the re-mortgage comes through on other assets you hold is the best option for you.
Our Warrington Corporate Mortgage Advice team of advisers can help you work through the best solution available in the marketplace. To book an independent review with a Warrington IFA, contact Assured Wealth and Estate planning.
Commercial loans and some residential mortgages are not regulated by the Financial Conduct Authority.