If your business has a commercial mortgage, I'll bet you haven't been told this before. Why? Because it has not come to many business's attention, until now!
It's very simple. The Government Funds for Lending Scheme, contrary to media speculation, can be very successful for businesses. If you change mortgage provider, 2% of the loan as cashback goes into your business account 48 hours after completion.
So how do you profit?
When you move mortgage supplier, the arrangement fee is typically 2%. This can be negotiated down to 1.5%. Even deducting solicitor and valuation fees, there is clear profit daylight here.
So 2% cashback comes to you, less than 2% goes out. There is no better time to review your commercial mortgage.
What do you want to do now?
I want someone to review my business situation...click here
I want more information on the types of products available...click here
I want help putting together an application...click here
I want to read more articles on business finance...click here
I want to make an enquiry....click here
16 Facts At a click and a glance
1 - Why going into the High Street branch is not the best way to source a commercial mortgage, business loan, or business banking manager
2 - Brand loyalty does not pay. I'll explain why your current bank is not incentivised to offer a better deal
3 - Bank managers that understand your business do still exist, but they are not where you used to find them. Find out where they are, and how to access them
4 - The good news about Business Bank Credit policies: the criteria for assessing businesses is changing regularly, and in the main terms are improving
5 - Why your perfect borrowing history is of little relevance, and why its not personal
6 - You can profit from moving bank, right now, by accessing a much misunderstood fund, as well as improved terms
7 - Different banks like different sectors: what's happened
8 - State-owned banks: an update on where they are
9 - Privately owned banks: an update on where they are
10 - Interest only commercial mortgages: today's marketplace
11 - How a change of mindset can be of great help
12 - Why banks want to know your inside leg measurement, and why it’s not personal
13 - How to work out if a bank will lend to you, right now
14 - Debt service cover: what it means, why its important and the good news coming your way
15 - Why you may need to bank with more than one from now on
16 - If your business does not own property, nor wish to buy one, there are other, new, niche financiers available that can help with your requirements.
About Chris Davidson
Chris Davidson is Managing Director of Discover & Invest Ltd.
He believes passionately in providing businesses with market-leading financial insights that have a positive impact on the bottom line. As a result, Chris helps get the best rates and terms available at any one time.