With the New Year celebrations still fresh in our heads, many entrepreneurs will argue that January is all about goal-setting, making plans and branching out to bigger and better things.

For many, that expansion plan will include purchasing an office building or maybe a warehouse or a shop, with the number of people looking to apply for commercial mortgages expected to pick up at the start of the year.

Unfortunately, the jargon saturating the commercial mortgage market can mean that applying for finance can be easier said than done!

Here at Blue Bull Finance, we get many enquiries about commercial mortgages, and we can help to dilute the terms and jargon associated with them!

Our goal is to tailor make a package to suit a clients individual needs.

So, what is a commercial mortgage?

A commercial mortgage is effectively loan secured on a non-residential property.

They are used to purchase, refinance or renovate commercial property.

What is the shelf-life of a commercial mortgage?

Terms of loan vary but typically are somewhere between 5 and 20 years. Funders will assess what % of the value of the building they will lend (LTV) and this will be assessed on a case by case basis. They will carry out due diligence but we can help clients through this process

What are the risks?

Fundamentally make sure you can afford the repayments, and check for ERC ( Early Repayment Charges, should you wish to exit the loan).

We can look at both interest only and principal and interest loans

It is worth talking to us even if you have been turned down for a loan elsewhere

If you have any further questions about commercial mortgages or the various products available, please get in touch with our friendly finance team on 0333 939 8552 or email us at rick@bluebullfinance.co.uk

Our extensive panel of lenders and our access to a string range of products and terms will give you flexibility. We will discuss with you all the options available and this will enable you to make an informed decision on the best solution.