Business mortgages are specifically designed for purchasing commercial property that will be used for business purposes. This can include the like of offices, shops, warehouses and factories. This type of mortgage can also be used to purchase an existing business, or a new building or land that will be used commercially.
A commercial mortgage will usually come with higher interest rates and more variables compared to a regular, residential mortgage, but they will often be more flexible and have added incentives for the borrower.
A business mortgage also differs, in that until the loan has been repaid, the lender actually has a legal claim over the property.
Business mortgages, due to their very nature, can really be extremely complex but we are lucky to have experts on our team at Leapfrog Finance who have been involved with arranging business mortgages over a long period of time. There is nothing that they have not seen before with regard to business mortgages so you can be assured of the very best advice on the market today.
If you would like further details please do not hesitate to contact us on 0800 612 7729 or fill in a few details on enquiry form and have one of the Leapfrog Finance Advisors call you back, alternatively, email us at Enquiry@leapfrogfinance.co.uk