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Commercial Mortgage Finance

Gone are the days when it was easy to get a mortgage just based on the value of the property. Until the credit crunch there were a number of commercial mortage companies offering funding of up to 80% of the valuation of the property. It was dead easy. It was just like getting a self certificated personal mortgage ( and by the way they have all gone from the market as well).

In addition banks were fairly relaxed when it came to advancing money against a commercial property. Has anyone tried to get a commercial mortgage at the moment. It is virtually impossible. At XL Business Finance we have over 10 years experience in helping businesses with obtaining commercial mortgages.

The problem with getting finance at the moment is that the finance companies are not interest in the value of the property. Because truth be known no one really knows how much property is worth in the current economic climate. The financial institutions are all into debt serviceability and the quality of the tenant.

Different finance companies will have different criteria when it comes to debt serviceability and knowing which one is best for your particular requirement is best left to a proper commercial finance broker.  If anyone knows one be sure to let me know ( ha ha!).

Seriously though we have access to some of the best commercial mortgage brokers in the market. The best ones are the ones that generally have worked in the banks for 20 years, have decided that there are other options than working in a Bank for the rest of their lives, have a personality and can generally speak your language. The fact they have worked in a bank is a good thing because they know how to wade through all the dotting of the i’s and crossing of the t’s.

And we know who they are!!!!!!

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