"Andrew dealt with the purchase of a going concern for me and I found him a pleasure to deal with. I received excellent help with after sale problems I had. Spot on help and assistance! Would definitely use again." Mark Hillary, Roberts Fruit & Veg
Re-mortgaging Commercial Property
Remortgaging a commercial property is similar to the remortgage of a residential home; there are times when it is unavoidable and times when it can be a lucrative option. There are many reasons for considering the remortgage of a commercial property, including:
Switching to another lender to take advantage of a better interest rate;
Decreasing or increasing the length of the mortgage, in turn, increasing or decreasing monthly repayments;
As a means to free up equity in your properties
The Commercial Remortgaging Process
The remortgage process is similar to the conveyancing structure involved in buying a home. The process includes:
A redemption figure: to be obtained from your existing lender;
Search indemnity policy: may be required by your new lender as insurance in situations where searches are not conducted;
Release of equity: taking into consideration paying the previous mortgage and fees incurred during the remortgaging process;
Title Information Document: the final process of officially replacing the existing lender with the new lender through the Land Registry.
Whether you want to pay off or consolidate business debts, free up equity to expand your business or simply enjoy a financial boost, Business Lawyers Direct can help you through a commercial remortgage process.
Contact Business Lawyers Direct
Call the team on and we'll be happy to discuss your requirements in greater depth.