A commercial mortgage is a mortgage loan secured by commercial property, such as an office building, shopping center, industrial warehouse, or apartment complex
The interest rates charged for commercial mortgages and business loans are generally not pre-determined like personal loans usually are. In every single case when an application is made for a commercial mortgage a financial manager reviews it diligently to assess the risk in the proposed loan.
A good deal of relevant information is needed for this decision. The lending manager will probably vary the rate offered to calculate the risk of the loan. More substantial loans having a minimal risk will most likely get the very best rates. Lenders regularly have a risk profile that these companies work to, thus if your loan drops beyond their liability profile it will most likely be rejected.
It makes good sense to employ a specialist commercial broker who possesses the connections and industry knowledge to secure you the most suitable deal. The broker will have to introduce your scenario to the lenders, therefore you should be sincere and fully transparent in your dealings with your finance broker.
Do not attempt to use numerous brokers at the same time, you may be embarrassed and may end up empty handed. Charles Frank Finance who are registered members of the NACFB can be relied upon to possess Professional Indemnity insurance and to follow a code of practice.