 Commercial
Mortgages - How to buy Commercial Property!
If you want to buy a high street
shop or
other kind of business premises, it’s not as hard as you think with the
help of
commercial mortgages.
If you want to buy a
commercial property either as an
investment or for business purposes, it can be difficult knowing where
to
begin. Buying commercial properties often happens at auctions held
throughout
the UK
– you can find details of where and when at dedicated property auction
websites. But you’ll also need to investigate commercial mortgages.
Commercial Mortgages
for Property Purchase
It’s a lot easier then you may
think to borrow money to help
fund a purchase, there are specialist commercial mortgage companies and
brokers, such as Blue Turtle Finance, that can offer you expertise and
advice.
Commercial mortgages are available from a wide range of lenders, and
typically
they will lend you up to 70% of the market value, although there are
situations
where you can lend more depending on what security you have to offset
the loan.
Even if you have your eye on a property but haven’t purchased it yet,
it’s a
good idea to get commercial mortgages set up and ready so you can move
quickly
if needs be. If you don’t have a commercial mortgage in place but are
in the
process of waiting for one, it might be possible to get a bridging loan
so you
don’t lose out on the property sale.
Commercial Mortgages
– Be Prepared
One of the major stumbling
blocks for people buying
commercial property is not being prepared with the finance. If you have
an
offer or bid accepted on a commercial property, you could need to stump
up the
money in as little as 28 days – it is possible to get bridging loans
fast – in
just days - to secure the purchase before your long term finance is in
place.
Commercial Mortgages
and Property Investment
Commercial mortgages can also be
good property investments
as a business in their own right. Many properties sold to private
investors
already have leases and tenants that provide a solid source of income.
Most
commercial tenants are responsible for the building insurance and
maintenance
so commercial mortgages for this purpose are generally hassle-free.
It’s
important you do research the commercial tenant in question however to
ensure
the company is strong and profitable – especially considering the
current
economic climate and the fears that the global credit crunch could
impact on
some businesses.
The Tax Benefits of
Commercial
Mortgages
One of the other appealing
aspects of commercial mortgages
to buy commercial property is the tax breaks – some properties qualify
for
generous tax relief. Although property prices are set to steady for the
next
few years, commercial mortgages and commercial property investment is
still a
profitable area. If you do take the plunge and take out a commercial
mortgage,
like any mortgage, you should make sure that you can afford the
property in
question and that the rent will easily cover the mortgage repayments.
Blue Turtle Finance is a family run business, providing a first class,
friendly and professional service. Our clients are of prime importance
to us, we always take the time to listen to their requirements and
concerns. At Blue Turtle Finance we work with you, to achieve the best
plan to suit your financial requirements for commercial mortgages and
bridging loans. Blue Turtle Finance will not put you through to a call
centre but guarantee one to one personal attention from your initial
application right through to completion. Blue Turtle Finance specialise
in adverse and severely adverse credit. To find out more email: info@blueturtlemortgages.co.uk
or telephone: 0845 460 6616.
Click
here
NOW for a Quote!
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