How can I get commercial property finance?

Enness works with many clients who are personally very experienced in commercial borrowing—but we are also keen to support those who are looking to enter the commercial property world. We appreciate this can seem like a daunting prospect, however, so we have put together a brief overview of how you can secure commercial property finance through Enness. You may also be an experienced commercial property investor—if that’s the case, the following will clarify how Enness can add value to your business.

If you are new to commercial finance, don’t worry; we are confident that we can help you. Your first step is to identify what sort of finance you are looking for. If you are looking for a property to operate your own business from, you will need an owner-occupier mortgage. Alternatively, you might be looking for a commercial buy to let—for example, buying a warehouse space to let out, or purchasing a building for other businesses to rent. You might also be about to become a professional landlord, with a buy to let limited company.

You’ll need to be prepared to present various documents, such as a business plan, financial projections, and a CV to prove your professional experience. And don’t be concerned if you’re unsure on exactly what you need. In many instances, the terminology may seem to overlap—you might be a property investor seeking a development loan to make a profit, but this might not be a commercial loan. A commercial loan is a loan between a business and a lender.

Enness Commercial sits in the Enness group, however, so even if you are unsure who to approach for help, we will be able to point you in the right direction. We can also structure your application to compensate for your minimal experience.

If you’re looking for further investment into an existing business, you’ll need your company details, a minimum on one year’s worth of accounts, the business’ trading history, and financial projections.

So what can you look to achieve? The first question that potential borrowers generally ask is ‘how much can I borrow?’. Naturally, this depends on the circumstances of your case- but lenders are generally happy to lend up to 70% of the value of the investment. In terms of the minimum property value, we are happy to discuss the financing of projects with any value, as we appreciate that value is not the key driver for commercial finance options.

At Enness, we pride ourselves on providing an efficient and timely service. If you’re wondering how long it takes to complete a commercial mortgage, the answer is naturally affected by the complexity of the case—but generally speaking, it can take between four to eight weeks.

However, we operate on a case-by-case basis; what is true for one commercial loan may not be true for another. Contact us today for a further discussion of your personal circumstance.


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