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Commercial mortgages are designed for people who are buying or remortgaging a property for the purpose of being used as business premises. If you are looking for a commercial mortgage, ideally you need to find a whole of market mortgage broker that is able source Commercial Mortgages via their connections with both High Street lenders and Specialist Banks, and ideally with institutions that are dedicated to and aim purely at the commercial sector. The broker will need to negotiate commercial mortgages with a wide range of lenders including major banks, commercial building societies, local or regional building societies as well as specialist commercial asset lenders. The broker will choose a commercial lender that will best meet your business needs. The commercial mortgage rates depend on the industry in which you operate, and also the performance of your business. They will also look at your own financial circumstances. Mortgage brokers often have access to the Key Relationship Managers within the banks, which means that they can utilise their strong relationships to gain access to exclusive rates; so that you can achieve the best commercial mortgage deals. A mortgage broker will then project manage your application for a Commercial Mortgage from start to finish, taking the stress away from you and allowing you to concentrate on other important business matters. A mortgage broker will also help you to review your existing Commercial Mortgage, or you may wish to move to new business premises. The importance of a mortgage broker in this area cannot be overlooked, as every commercial mortgage that is agreed is unique and brokers can negotiate to get the best mortgage and rates for their clients, each with their own set of circumstances and so are often tailored and can include interest only periods, long term repayment plans and fixed, variable and hedged mortgage rates. Until recently, most brokers could arrange business funding up to 80% loan to property value depending on trading performance and industry sector. However, in today’s economic climate it’s more realistic to assume a figure of 65% LTV. Established for over 6 years, Alton Mortgages are a Mortgage Broker in Maidenheadcovering all of Berkshire and beyond. If we can help provide you with Mortgage Advice Berkshire, please feel free to get in touch on enquiries@altonmortgages.co.uk or call us on 0845 095 34 35.
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