Otherwise known as a commercial mortgage, this type of mortgage is a loan for a property that you do not live in. It is usually for a commercial property such as offices, shopping centres, warehouses and other properties similar. These types of mortgages usually last between 3 and 25 years.
Is it right for you? Here's what you need to weigh up..
If your business expands, your office space can do so whilst keeping money within the business
There are opportunities for low interest rates
If your workspace has plenty of room, there are opportunities to rent out sections of it to other businesses, allowing for potential extra income
Corporate mortgages are usually longer term than other kinds, so you are tied up for longer
If your business needs to relocate, it may be harder to sell your premises and find somewhere new swiftly
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