 Commercial and
Business Finance
If you’re thinking of buying a business, you’ll need to know more about
how commercial mortgages work.
What exactly are
Commercial Mortgages?
Commercial mortgages are not dissimilar from normal, home mortgages in
that you put property up as security against a loan – so that you can
either buy or refinance that property. Unlike other business loans,
commercial mortgages can be long-term loans – of up to 30 years if
required. There are the same risks as a home mortgage – if you default
on commercial mortgage repayments, the lender can take possession of
the property in question.
If you’re looking for accessible commercial mortgages but are finding
it hard to get through the doors of a traditional high-street lender,
there are specialist lending companies such as Blue Turtle Finance that
can help.
Who Needs Commercial
Mortgages?
Commercial mortgages are aimed at small to medium sized companies,
partners or sole traders who are struggling to fall within the strict
lending criteria of high-street lenders. This criterion has been
tightened in response to the recent global credit crunch, excluding
more people searching for commercial mortgages. Many business people
need to turn to commercial mortgages from specialist financial
companies simply because they are self-employed or a contract worker.
Commercial mortgages are also available to those struggling to get help
from high street lenders because they have poor credit histories.
What are Commercial
Mortgages used for?
If you want to start out in business, open a new business, expand your
business or even improve your business property, commercial mortgages
can help. Commercial mortgages can also be used to help short term
finance or cash flow problems or debt consolidation, and unlike
bridging loans that are designed for short term use, commercial
mortgages can be paid off over a 30 year period.
Commercial Mortgages
for the ‘Disenfranchised’
If you’re in business or looking to set up a new business but have been
disenfranchised by traditional lenders, commercial mortgages are still
available to you, even if:
- You are unable to provide three years’ audited
accounts
- You are unable to provide business plans in
great detail
- You need commercial mortgages fast so not to
delay or disrupt business and don’t want to wait or be delayed by the
stricter criteria of high street lenders
- You only have self certification of income, are
self employed or have adverse credit history
- You need 100% of the purchase price (subject to
additional security)
Commercial mortgages from specialist lenders such as Blue Turtle
Finance are considered on all kinds of commercial propositions.
Commercial mortgages are also available fast, with same day mortgage
offers without fuss or hassle – you don’t have to worry about
interviews and business plans.
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.
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here
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