There are many types of commercial property finance, many types of lenders and many options to choose, all of which are determined by the specific project need. Some of the most common forms of commercial property finance are:
Commercial mortgage – available for businesses, sole traders and limited companies. Typically, a mortgage for a commercial building can be secured for up to 75% of the purchase costs and will have monthly repayments at a fixed rate, for a set period of time.
Property development finance – considered as a short-term financing opportunity. Finance can be sourced to assist with the development of a new building project, the building of several new dwellings or for the redevelopment of existing properties.
Portfolio finance – labelled a longer-term loan and typically aimed at property investors or those with a number of rental properties. It enables the consolidation of several different borrowings in to one property loan.
Bridging finance – again a more short-term type of funding utilised by property investors and developers who are looking for a quick form of finance to purchase their next property. Therefore, they need a bridging solution between the sale of one property and the purchase of a new one.
The commercial property arm of NGI finance is vastly experienced in property finance. We have recently assisted a business to purchase several commercial units who have subsequently sub-let most of the units. We have refinanced some commercial properties due to the excellent deals currently available. Also, as more and more historic lenders are moving away from the traditional property deals, we have experienced a surge in refinancing deals and are happy to help anybody needing a new deal.
If you would like to discuss anything in relation to commercial property finance, please call us on 01993 706403 or e-mail firstname.lastname@example.org.