Commercial Mortgage Refinancing

Commercial property mortgage customers may be able to refinance or restructure their commercial mortgage to reduce mortgage payments, experience better mortgage terms and/or release equity from the property to invest elsewhere. Ascot Mortgages are highly experienced in dealing with commercial property mortgage refinancing and sourcing / securing the best commercial mortgage deals to precisely match the requirements of our commercial clients.

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Thinking about refinancing your commercial property mortgage?

Owning a property is one of the soundest investments that you can make regardless of whether you are purchasing premises to live in, or trade from. The mortgage market can be a complex one and it is often difficult to find time to sift through the various options, especially when you are also running a business. Here at Ascot Mortgages, we are expert mortgage brokers and can deal with all your mortgage queries. We offer an initial, non-obligation, free of charge consultation with one of our specially trained advisors. We are particularly skilful at dealing with commercial mortgage refinancing, meaning that we use our expertise to find you the best deal for your budget and situation. Here at Ascot Mortgages we pride ourselves on our ability to give good, honest and impartial advice on a range of products and our guide to the most frequently asked questions is a good starting point if you are considering refinancing your commercial mortgage.

What is commercial mortgage refinance?

Refinancing your commercial mortgage is a means by which you can re-mortgage your existing mortgage for your business property. It is, essentially, a means by which you can make sure you have the best deal or release some equity from your mortgage for whatever reason. Commercial mortgages can be refinanced if the business owns, or partially owns, a property.

Why would a business want to refinance their commercial mortgage?

It could be that your current mortgage deal does not reflect your circumstances any longer, for instance if your current mortgage arrangement is based on an adjustable rate you may find your monthly repayments difficult to budget for and may instead want to opt for a fixed-rate loan.

You may believe that you can get a better deal as a commercial mortgage can offer more room for negotiating a better deal than a domestic mortgage might. Commercial mortgages are calculated on more than just mortgage interest rates: for instance on things like the credit history of the borrower; the projected or historic performance of the business; and the security offered, can all mean that negotiation on mortgage deals is possible. It is likely that businesses will seek to make sure that they are receiving the best rates during the course of their mortgage. The property could have initially been bought, and financed, in order to be an investment. The mortgage might need to be refinanced in order to assess its increased value.

Refinancing a commercial property to release equity

In this time of austerity obtaining credit at a good rate can be difficult and so it might be worth investigating refinancing an existing commercial mortgage in order to release some capital to either expand or invest in the business. Often lenders can be cautious of financing rapid business expansions, so using equity from a commercial mortgage can release funds to do this.

Refinancing a commercial property to lower monthly repayments

Commercial refinancing can also be used to lower your monthly repayments by borrowing against the amount that you have invested in the property. This is particularly useful if the business is going through a temporary quiet spell. Another way that clients have used commercial mortgaging is to consolidate debts: by refinancing a business mortgage other debts can be cleared and then repaid through the mortgage in a convenient monthly amount.

What type of commercial mortgage loans are available?

There are various types of loan that are on offer, depending on the businesses’ needs. These can include: interest only mortgages; fixed-rate loans; adjustable rate loans; and 100 per cent refinancing loans. Loans are available to all types of business and property.

What should a business do if they want to refinance their commercial mortgage?

If the business intends on using Ascot Mortgages, then the answer to this question is ‘not a lot!’ Here at Ascot Mortgages, we take care of all the details and paperwork on your behalf, meaning that the time is not taken away from the business in the process of arranging a refinancing deal. The process is usually relatively swift because as established brokers we have a clear understanding of lenders’ rates and offers and so can create a bespoke deal for you, efficiently.

As with any financial commitment it is important to be realistic about your budget and needs. It is easy to get carried away with what seems like a fantastic deal in front of a lender, but using Ascot Mortgages means we will ensure the terms meet your requirements as we deal with lenders on your behalf. Whatever your business refinancing needs, give us a call at Ascot Mortgages today!

The Financial Conduct Authority does not regulate some forms of Commercial Mortgages.

Ascot Mortgages offer a comprehensive range of mortgages from across the market. We are dedicated to providing the very best financial advice and the highest standards in customer service.

Please contact Ascot today, and you will be very glad you did.

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