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Commercial Mortgages
Commercial mortgages are specially tailored for the funding
of the purchase of commercial property, which will generally
include offices, industrial properties, mini-storage, retail
outlets and hotels. Whether you run a small family business
or a large company, if you require financing for the purchase
of commercial property then a commercial mortgage is what you
will need to arrange.
In general, commercial property is more expensive than private
property such as homes, and so the amounts that can be borrowed
on a commercial mortgage will be much higher to take this into
account. There are a wide range of different commercial mortgages
on offer, each one catering for the different needs of the diverse
range of borrowers, from those needing small amounts of funding
to purchase an existing property to large companies requiring
large funding for the development of large buildings and infrastructure.
With such a diverse range of requirements from borrowers the
commercial mortgage lenders will in general specialize in certain
areas, with some catering for small to medium sized businesses,
with others geared towards providing the levels of finance required
by large multi-million dollar companies.
Unlike home mortgages, which tend to follow the same pattern
of requirements, i.e. a five to twenty percent down payment
and 15 – 30 year repayment term, commercial mortgages
are far less formulaic, and as such the mortgages on offer can
be customized highly to suit the needs of each individual business.
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