Looking to buy at auction but haven't got the cash?, no problem we can arrange commercial finance to tie in with auction property purchases. As you know to purchase a property at auction you need to have a 10% deposit available to exchange on the day with a 28 day completion deadline - if you do not complete by then you will lose your deposit. No normal residential mortgage is able to complete this quickly therefore meaning that in the past cash was always needed for auction purchases, but not any more! Commercial finance works by getting the loan agreed prior to attending the auction. Assuming everything is agreed you will then be able to attend the auction with the knowledge that your finance will complete within the 28 day period required- it's as simple as that.
If you are considering branching out in to commercial investment properties in the Bristol area, then you would benefit from speaking to us here at Andrews Mortgage Services. We understand the local Bristol commercial property market, along with the significantly different application process attached to commercial finance. If you have applied for a personal mortgage in the past you may well be under the misconception that an application for a commercial mortgage works in a similar way, this is simply not true. Commercial lenders apply a vastly different set of lending criteria to mortgage applications from people looking to procure commercial investment properties.
You will need to take the advice of a qualified and experience specialist in the field of mortgage products for commercial investment properties, our team of commercial mortgage experts are here to help, and will assist you through the entire process of preparing the supporting documentation to accompany your commercial mortgage application, through to the actual signing of the contract stage. We also have access to a far wider range of potential lenders and mortgage products for commercial investment properties than a private individual approaching the lending establishments on their own behalf.
These types of financial products are not regulated by the Financial Services Authority