commercial mortgage

clairelindy

is there such a thing as commercial mortgage to buy a business premises ? if so where is the best place to go
many thanks

Thrugelmir

Commercial lender. A mortgage is actually the charge put on the property to secure the debt. Other than that it's a loan like any other. Advisable to have a business plan prepared if you intend operating from the premises yourself.

clairelindy

Thrugelmir wrote: »

Commercial lender. A mortgage is actually the charge put on the property to secure the debt. Other than that it's a loan like any other. Advisable to have a business plan prepared if you intend operating from the premises yourself.

i would be buying a salon which i already manage would i still need to do a business plan? many thanks

Thrugelmir

clairelindy wrote: »

i would be buying a salon which i already manage would i still need to do a business plan? many thanks

I can only comment in a general sense. What it comes to business finance prior preparation is well worth the time and trouble. As provides the lender with confidence in you as a potential borrower. No one will dispute your ability to manage the salon. They'll be more interested in whether the venture you are proposing to undertake is financially viable.

clairelindy

Thrugelmir wrote: »

I can only comment in a general sense. What it comes to business finance prior preparation is well worth the time and trouble. As provides the lender with confidence in you as a potential borrower. No one will dispute your ability to manage the salon. They'll be more interested in whether the venture you are proposing to undertake is financially viable.

thank you i will do one best to be prepared