If you already have a commercial mortgage on your company’s business premises then you might find that you could benefit from a Commercial remortgage. After all, why pay more than you should for your commercial mortgage?

Commercial remortgages can allow you to unlock some of the equity that is currently tied up within your commercial property.

It could also be your chance to switch to a more competitive mortgage offer with a better interest rate. Especially if you or your company’s credit rating and business history have improved since you took out your original commercial mortgage.

By switching to a better rate of interest, a commercial remortgage can result in reduced monthly repayments.
If you currently have a commercial mortgage it is worth considering commercial remortgages. This is known as business refinancing and the possible benefits include: Reducing your monthly payments by switching to a product with a lower interest rate, raising additional finance by releasing available equity in the property or consolidating debts into a manageable monthly repayment.

If the property is worth more than the outstanding balance of the mortgage, this difference is known as the ‘equity’. A commercial remortgagecan use some of the equity. It can be a very cost effective way of obtaining additional finance. This is due to the fact that security is being provided to the lender in form of the commercial property. In this instance, the interest rate payable will usually be that of a mortgage rate as opposed to a business loan rate which can be significantly higher.

Even if you or your company has had credit problems in the past, it may still be possible to secure a commercial remortgage on competitive terms. People or companies with credit problems, such as CCJs, late payments or defaults, can still qualify for an adverse credit commercial remortgage, also known as a sub-prime commercial remortgage.

We have access to the country’s leading lenders, and are therefore in a position to find the most suitable product for you and your business. So, even if you have been turned down by a high street bank, there is a good chance that one of our lenders may be able to help.

Have a look at our Commercial remortgage calculator for a quick online quote.

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