Commercial mortgages are often the best way to achieve finance to buy business premises.
Purchasing premises is a step taken by many growing companies. It protects them from rent rises, landlords ending leases, and many other risks associated with rented property. It is also an investment for the future, building the business’s asset base.
Commercial mortgages are widely available, but businesses should be cautious when dealing with funders with whom they already have a business relationship. The best rates and most suitable deals are often available elsewhere, and can be accessed using an independent adviser, such as the experts at RedSky.
When looking for a commercial mortgage, factors to consider include the term, rates, fees, penalties for early repayment, security, deposit and loan covenants. Fundamentally, you also need to know that the mortgage is affordable and the business will be able to meet the repayments in the long term.
Generally, funding is available for around 70% loan to value (LTV), but it is possible to achieve funding for up to 100% in certain cases which the advisers at RedSky have helped to arrange for businesses in the past.
RedSky has experience in securing commercial mortgages for offices, factories, retail units, mixed use properties, new build commercial units, hotels, restaurants and more. Our advisers can guide you through the options for different debt structures, interest-only mortgages, and whether to borrow through the company an individual or a pension.
We work with you throughout the process, helping to deliver a robust application and guiding you to legal professionals for advice as required. Our extensive experience means our advisers know what lenders need to see in the application before they will release funds, so our success rate for achieving funding is exceptionally high.
I suggest stop looking at your typical high street banks and try Paul straight away. Saved me lots of hassle and head ache and manage to get me a loan middle on the pandemic and 2% cheaper to the closest competition. His not your typical 9 to 5 office worker sometimes we were exchanging emails at 9pm he was always available to talk and not once we felt he wasn’t the right guys.
Paul at RedSky provided an excellent and friendly service to source and successfully apply for a loan for my client. Despite originally being refused a loan by their high street bank Paul managed to get us an acceptable alternative at good rates. - I would not hesitate to recommend Paul and his team to anyone looking for funding.
From the start of the process Andy was fantastic in arranging finance for our business. He kept me updated with progress all the way through keeping the stress levels to a minimum, even when he was on a weeks holiday. I wouldn't hesitate to use their services in the future.
Fantastic service from the minute we spoke to Martin Bell - personable pragmatic and he managed to get a great deal on our business development finance - wouldn’t hesitate to use again or recommend to others
Myself and my husband have been supported by RedSky for over 15 years in our Hi-tech engineering business and we simply couldn't recommend them enough. They will always go the extra mile and beyond and will only find a solution that is totally right for your business, never simply for their gain. Integrity is absolutely paramount for them. They are able to look at the whole of the market for your business solution and are at the forefront of everything that is happening in the business funding world and solutions for SMEs. They really do care about your business.
Gareth at Red Sky understood my business and my funding requirements quickly, he was a pleasure to work with and secured the funding I required. I highly recommend Gareth and Red Sky. If the need arose I would turn to Gareth and Red Sky without hesitation
Without Redsky our business wouldn’t of even got off the ground. Gareth was fantastic in putting our business plan together and doing all the paperwork. We can’t thank you all enough hopefully you can change our life’s. Thank you