What Makes a Property Suitable for a Commercial Mortgage?
Published ¤ 27/08/2010 18:01:19
Why would you consider taking a commercial mortgage? Well, the idea of purchasing a commercial property is that it must be well suited to the needs of your business. This can be determined by several factors that are taken into consideration before giving you a commercial mortgage. The commercial mortgage lender will look at your business, what it does and how it may relate to the commercial property taken by you. Before taking out a mortgage loan for your commercial property, you should calculate your affordability with the help of a mortgage calculator.
If your company makes a particular type of product, the lender will ask you how long you have been making that product. They will also enquire about the market growth that you see annually. They will also consider the property and check whether or not it will meet the needs for making the particular product during the term of the loan. Have a look the various points you need to consider before searching for a property that you intend to finance using a commercial mortgage.
In a nutshell, the kind of business does not make any difference but the business needs are what matters. Can the commercial property meet those needs? Determine your mortgage affordability with a mortgage calculator and take into account the above mentioned points when selecting a property suitable for a commercial mortgage. A good commercial property will always meet your current and long-term plans.
This article was originally produced by IPIN. Click here to see the original.
If you or your company is considering buying a commercial property, then speak to PKS first. Being "truly" independent, and with 20 years experience, we can help ensure your purchase is as hassly free as possible. Call us on the number at the top of the page.
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