Commercial Mortgage

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How to get cash when you're buying a building for business

Whether you're planning to become a publican or buying a flat so you can rent rooms to students, you might find it difficult to get a normal mortgage from a high street lender. But don't despair: a large number of firms will happily arrange a commercial mortgage for you.

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If you read the small print, most big name lenders are only interested in house purchases which rules out pubs, hotels, workshops and in many cases, even buy to let properties. For business buys, a commercial mortgage is a better bet although in the case of buy to let, many traditional lenders now offer commercial-style mortgages for these purchases.

One reason for considering a commercial mortgage is that in many cases, lenders won't limit your borrowing to the value of the property. For example if you're setting up in business you might also need to pay for equipment, stock or marketing, and stamp duty can be expensive. With a commercial mortgage it's often possible to include these costs in the total amount borrowed, even if that amount exceeds the value of the property.

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