Choosing the right commercial property solicitor can make or break your property deal. Just as finding the right commercial mortgage lender is key to financing your transaction, finding the right legal representation can be critical to a smooth purchase.
As the economy begins to recover, more and more people will be tempted by commercial property as an investment. However, whilst there are numerous positive reasons to choose commercial property as an investment, there are plenty of factors that you should bear in mind. Here are six things to think about if you are considering taking out a commercial mortgage to buy business premises.
Taking on a commercial mortgage is a bid decision for many small firms, in fact it could be said it is a rite of passage for many companies as they expand from small business status to something 'better.' That being said, it is still a decision to be well thought out and not taken lightly at all.
As the British economy begins to recover, data from a leading property group has shown that the commercial property market in the UK is showing signs of an upturn. And, with the Government agreeing higher commercial mortgage lending targets, loans and finance to buy property should be more readily available in 2011.
One of the main ways that commercial mortgages differ from residential mortgages is the amount of deposit you normally have to put down. A commercial mortgage typically requires a larger deposit than a residential mortgage and it is not unusual for the maximum 'loan to value' (LTV) to be 75%, meaning you need a 25% deposit....
If you are the landlord of a commercial property, it is crucial that you understand the responsibilities that you have to your tenants. Whilst many of these responsibilities will be shared between you and your tenant(s), our guide outlines some of the most important things you should be aware of as a commercial landlord.
Buying your own business premises is the ambition of many companies. Having a secure, stable base from which to run your company can be a huge benefit as can the capital you can accrue by owning your own property. However, there are many pros and cons to buying your own office or retail unit...