Commercial mortgages play a pivotal role in growth of businesses. These commercial loans are acquired for procuring, developing, and refurbishing a property.

Commercial Mortgages can be used for legitimate business purpose only. Professional practices, making offices, industrial units, vehicle showrooms, restaurants, student accommodations, children’s day nurseries, hotels, and warehouses are the most common examples. Commercial Mortgages are suitable for all sizes of businesses from small to large enterprise and customized according to financial needs.

Types of Commercial Mortgages
There are three basic types of commercial mortgages for business.

• Commercial Owner-Occupied Mortgages:
  The mortgages issued when a business owners want to purchase premises for their own business use, instead of renting out a property.

• Commercial Investment Mortgage:
  It’s a type of loan used to purchase or refinance a commercial or semi commercial property which is already let to tenants.

• Property Development:
  It is another type of commercial mortgage for development of property. It includes building new property, renovations of property and conversion of property from commercial to private or vice versa.

Benefits to procure a Commercial Mortgage
There are few benefits driven by obtaining a commercial mortgage.

• The amount of interest on commercial mortgage is tax-deductible.
• If the value of a property increases, the amount of capital also increases.
• The property can be rented out to generate extra income.
• Diversify business by spreading the risk and broadening the revenue stream.
• Refinancing aids to release capital to invest in growth of business.
• The mortgage is available over a term of 5 to 25 years.
• It has better interest rates than regular business loans because the property is required as collateral.

Galgorm Financial provides competitive finance options for commercial mortgages and business loans. Our finance team is on hand to help, so don’t hesitate to contact us.