Commercial Mortgages

With property prices continuing to rise and interest rates holding steady, now is a great time to buy commercial premises. It’s definitely a far better option than writing-off money every month paying rent.
There can be a tax advantage in buying and leasing-back to your business, as any accountant will tell you. And, in years to come, when you eventually sell it, the value of the building might be worth more than the actual business. Think of it as a bricks-and-mortar pension plan! In the meantime, if trading gets tough, it will also give you a ready source of finance.

So, when you’ve decided to buy and have found your property, who can find you the best deal? Mortgagemotorway.com can get you a commercial mortgage easily and quickly.

A commercial mortgage is a loan made using commercial property as collateral to secure repayment.

A commercial mortgage is similar to a residential mortgage, except the collateral is a commercial building or other business premesis , not residential property.

In addition, commercial mortgages are typically taken on by businesses instead of individual borrowers. The borrower may be a partnership, incorporated business, or limited company, so assessment of the creditworthiness of the business can be more complicated than is the case with residential mortgages.

Commercial mortgages are typically nonrecourse, that is, that in the event of default in repayment, the creditor can only seize the collateral, but has no further claim against the borrower for any remaining deficiency. Less commonly, the mortgage is supplemented by a general obligation of the borrower, which makes the debt payable in full even if foreclosure on the mortgaged collateral does not satisfy the outstanding balance.