Commercial mortgage in Witham

You will need this loan when you want to stop renting and own your business space. The law requires lenders to check building safety and energy standards carefully before they approve you.

• Moving your firm to its own shop or office.
• Buying a unit with a flat above it.
• Expanding your property portfolio to rent out.
• Releasing cash from a building you already own.
• Buying a warehouse or factory space.

Your broker will start by checking your business finances and the property details. They act as a helpful middleman between you and the banks to find the best deal.

• Provide three years of trading accounts.
• Share your recent bank statements.
• Discuss fixed or variable interest rates.
• Complete a soft credit search.
• Pick a lender to start the application.
• Wait for a professional valuation visit.

Owning your premises gives your business stability and helps you build wealth for the future. You can often change the building to suit your needs without asking a landlord.

• Build up equity in a valuable asset.
• Stop worrying about sudden rent increases.
• Design the space exactly how you want.
• Gain potential tax benefits for your firm.
• Create a long term home for your brand.

Lenders look at how much profit your business makes to ensure you can pay them back. They also check if the building is a good investment for them.

• How much money your business earns.
• The type of building you want.
• Your personal and business credit history.
• The length of the lease if tenants stay.
• Any extra security you can offer.