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Mortgage & Refinancing Information |
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Understanding a UK Commercial Mortgage
In many ways a commercial mortgage is just like a residential mortgage in that you pledge real property as collateral against a loan to either buy or refinance that property. You can also receive a commercial re-mortgage and use it as a line of credit for any business purpose. When you use a commercial mortgage to buy property, or to raise funds for any other business purpose, the lender retains an interest in that property until the loan has been paid in full. Unlike other types of business loans, which usually have a relatively short repayment period, you can take out a loan for as long as 30 years if you like. The lender receives repayment of the commercial mortgage principal and interest over the lifetime of the loan. If you default on the loan and go into arrears then the lender can foreclose and take possession of the property that was used as collateral. Generally speaking, the interest on a commercial mortgage is tax deductible and the net proceeds of the loan are not considered to be taxable income. However, you should always check with your accountant to be sure because the tax consequences can be severe should it be determined that your usage of the funds was not for a qualified business purpose. Should you be seeking a commercial mortgage for the purposes of operating your business, rather than actually buying property, then the lender will either want to re-finance your current mortgage, and include enough money to provide the amount that you are seeking, or they may arrange an equity line where they lend you the difference between the current value of your commercial property and the amount that you owe on the current mortgage. There are generally two types of interest schemes available when you are applying for a commercial mortgage. The fixed rate commercial mortgage establishes an interest rate that is in place either for the life of the loan or for a fixed period of time. If it is for a fixed period of time then it will normally convert over to the second type of rate, which is called a variable interest rate, after the fixed time period expires. In some cases your lender may add a Early Redemption Charge (ERC) clause to your commercial mortgage contract which states that if you pay off the note prior to the end of the fixed rate period then the lender is entitled to a one-time lump fee to offset their loss of expected income. In some cases this ERC may extend to longer periods possibly up to the entire term of the loan. Be very sure to read your loan contract carefully to make sure that you understand the implications of the ERC if it is present. With competition from lenders heating up you'll find that many of them are dropping ERC clauses all together. If there is one present in your loan contract you may be able to negotiate it away with little effort. It's worth trying in any case and you can always apply somewhere else if your lender is not willing to negotiate. In the case of a variable interest rate commercial mortgage the rate is based upon those issued by Bank of England. The lender will usually state that the rate consists of the published rate, which will likely vary up and down over the life of the loan, plus some pre-determined premium that remains the same for the life of the loan. Be sure that you understand how frequently your rate will change and that you are comfortable with the amount that the lender is charging as a premium. As with any terms of your loan you can negotiate both of these factors. A fixed rate commercial mortgage is a good choice when you feel that interest rates are headed up sharply and you want to lock in the current rates. On the other hand, if interest rates are in flux, and economic indicators point to a downtrend, then a variable rate may be your best choice. Keep this strategy in mind during the lifetime of your commercial mortgage. If you are locked into a fixed rate, and interest rates have dropped significantly below what you are paying, you should consider applying for a re-mortgage and selecting a variable interest rate to take advantage of the lower rates. On the other hand, if you are in a variable, and all indicators are that interest rates will be skyrocketing soon, then look to move into a fixed rate so you can protect yourself against future increases. ============================================================== Commercial Lifeline are Commercial Mortgage andBridging Finance specialists. You can download our free Commercial Mortgage guidesby visiting our Commercial Mortgage Guide page. This article comes with reprint rights. Feel freeto reprint and distribute as you like. All that weask is that you do not make any changes, that thisresource text is include, and that the links aboveare intact.
MORE RESOURCES: VA cash-out refinance: Don't get swindled by (equity) strippers! | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports On December 20, 2018, the federal government created some protective guidelines for homeowners. These safety measures concern the cash-out VA refinance. REAL ESTATE MATTERS: Reasons to refinance your mortgage Sarasota Herald-Tribune Q: If you have a fixed rate mortgage, why would you ever want to refinance if you plan to stay in the home for duration of mortgage?A: That's a good question. Prepayment activity hits 10-year low as mortgage refinancing decreases National Mortgage News Continual declines in the refinance share of mortgage originations led to prepay rates dropping to their lowest levels since 2009, according to Black Knight. Refinance rates retreat for Monday Bankrate.com Multiple benchmark refinance rates tapered off today. If you're in the market for a mortgage, see how your payments might be affected. Refinance mortgage rate slides for Friday Bankrate.com Refinance rates were mixed, but one key rate tapered off. The average rate for a 30-year fixed-rate refinance trended down, but the average rate on a 15-year ... Refinance mortgage rate moves higher for Monday Bankrate.com Refinance rates were mixed, but one key rate trended upward. If you're in the market for a mortgage, see how your payments might be affected. Refinance mortgage rate slides for Thursday Bankrate.com Refinance rates were mixed, but one key rate dropped. The average rate nationwide for a 30-year fixed-rate refinance receded, but the average rate on a ... Cash-out mortgage refinancing: Here’s where homeowners are using it most Bankrate.com Homeowners who snagged a low-interest mortgage in recent years generally avoid refinancing the loan because interest rates are higher now. When they need ... Refinance mortgage rate moves up for Friday Bankrate.com Refinance rates were mixed, but one key rate advanced. If you're in the market for a home loan, see what that means for you. Refinance mortgage rate moves higher for Saturday Bankrate.com Refinance rates were mixed, but one key rate climbed. If you haven't locked a refinance yet, see what that means for you. Couldn't qualify to refinance last year? Lenders more likely to say yes in 2019 | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports If you have been wanting to refinance but had a hard time getting approved, 2019 might be your year. Lenders are allowing higher debt-to-income ratios, ... Refinance mortgage rate falls for Tuesday Bankrate.com Refinance rates were mixed, but one key rate dropped. The nationwide average for a 30-year fixed-rate refinance tapered off, but the average rate on a 15-year ... The 4 most common mortgage and real estate scams and how to stop them Bankrate.com In 2017 alone, 9645 victims reported real estate fraud, resulting in losses of more than $56.2 million, according to data from the Federal Bureau of Investigation's ... Mortgage rate decline sparks refinancing demand in Capital Region Greater Baton Rouge Business Report With mortgage rates falling to their lowest levels in eight months, some Capital Region residents are seizing their opportunity to refinance on their homes. Mortgage rates drop below 4.5%. Homeowners scramble to refinance | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports There is a quiet refinance boom brewing, as mortgage rates sink to 9-month lows. Not since April 2018 have rates been this low. Freddie Mac, in its weekly ... Shutdown Impact Spreads: Government Furloughs Put Some Mortgage Deals In Limbo NPR The partial shutdown of the federal government is causing some financial problems for furloughed workers who can't refinance their mortgages or buy homes ... Refinance mortgage rates mixed for Tuesday Bankrate.com Refinance rates were mixed today. If you're in the market for a refi, see how that could affect you. Refinance rates decline for Wednesday Bankrate.com Several key refinance rates were down today. If you're in the market for a home loan, see how your payments might be affected. Falling Mortgage Rates Lead to Surge in Refinance Activity Mortgageorb A surge in refinance activity resulting from a drop in mortgage rates helped push mortgage application volume up 23% during the week ended Jan. 4, according ... Why mortgage lending at Wells Fargo, Chase and Citi plunged MarketWatch Mortgage lending at three of the country's biggest banks has fallen off a cliff as customers pivot to online-only options and stop refinancing. 6 Tax Breaks for Homeowners Yahoo! Finance News Under the Tax Cuts and Jobs Act, which takes effect for tax filings for the 2018 calendar year, standard deduction increases will likely mean far fewer Americans ... Refinance rates move higher for Friday Bankrate.com Several key refinance rates were higher today. The nationwide average for a 30-year fixed-rate refinance cruised higher, but the average rate on a 15-year fixed ... Government Shutdown Brings Mortgage Obstacles | Your Money The Albany Herald MoneyTipsThe Shutdown's Housing Market WoesIt's a great time to buy a home, and you're ready. You've saved up a suitable down payment, found a home, ... Mortgage rates continue their slide, while the Fed raises its benchmark rate Washington Post Mortgage rates continued their retreat, helped by volatility in the financial markets and weakened inflation expectations. According to the latest data released ... Refinance rates retreat for Wednesday Bankrate.com Multiple benchmark refinance rates were down today. If you're in the market for a refinance, see how your future mortgage payments could be affected. How cash-out refinancing can turn into a costly mistake The Southeast Sun Sorry, but your browser does not support the video tag. Dropping mortgage rates near levels that could lead to more refis National Mortgage News Falling mortgage rates have reached the point where they are spurring speculation about a possible resurgence in refinancing, according to an FTN Financial ... Refinance rates drop off for Monday Bankrate.com Multiple benchmark refinance rates sunk lower today. If you're shopping for a refi, see how that could affect you. Mortgage Rates Fall as Government Shutdown Rolls On – Market Update Zing! Blog by Quicken Loans It's Day 24 of the partial government shutdown, but inflation is low, as are jobless claims and mortgage rates. All that and more in Market Update! Mortgage applications plummet nearly 10% to end 2018, despite lower rates CNBC The numbers are surprising, given that homebuyers and homeowners looking to refinance could have taken advantage of lower interest rates. Should I Buy Now or Wait Until I Have 20% for a Down Payment? Zing! Blog by Quicken Loans If you're thinking about buying a house soon, there are no doubt plenty of questions that have crossed your mind. One of those questions is probably whether or ... Mortgage rates retreat for Wednesday Bankrate.com Several benchmark mortgage rates ticked downward today. If you're shopping for a mortgage, see how that could affect you. Weekly mortgage applications fall 5.8% as stock market plunge unnerves potential buyers CNBC Even with mortgage rates at the lowest level in three months, homebuyers are pulling away from the housing market. Mortgage application volume fell 5.8 ... The Right Way to Tap Your Home Equity for Cash ConsumerReports.org Millions of Americans are tapping their home equity for cash. That can be risky. Consumer Reports explains what to watch out for and how to choose the right ... Millionaires Cash-Out Too; Big Refis for Big Homes Mortgage News Daily Somewhere in this country there are 230 homes with mortgage balances between $10 and $20 million dollars. According to a post written by Arthur Jobe in the ... How Does the Mortgage Market Work? Zing! Blog by Quicken Loans If you're in the market to purchase or refinance a home, you're probably being exposed to a whole range of information the average person doesn't think about ... Refinance rates slide for Saturday Bankrate.com Multiple closely watched refinance rates were down today. If you're in the market for a refinance, see how that could affect you. Nigeria Mortgage Refinance Company lists N11b bond The Nation Newspaper The Nigeria Mortgage Refinance Company (NMRC) has listed its N11 billion 13.80 per cent Series 2 Fixed Rate Bonds on the Nigerian Stock Exchange (NSE), ... Veterans Pay High Price as Lenders Push Cash-Out Home Loans Bloomberg Eric Kandell is making his pitch to veterans. Wearing a red T-shirt, with the words “Low VA Rates” emblazoned across his chest, he looks fit and muscular, as if ... How latest Fed rate decision affects rates on credit cards, mortgages, savings accounts USA TODAY How the latest Fed rate hike affects what you pay on credit cards, mortgages, auto loans as well as your bank savings account. TRANSACTIONS: Arbor secures $156M in loans, Meridian arranges $10M on 81st Street Real Estate Weekly Select Commercial Funding announced the below closed transactions. All loan transactions were negotiated by Stephen A. Sobin, president and founder of ... StorageMart Takes Big Refi for Existing Self-Storage Properties, Development and Cash-Out Inside Self-Storage StorageMart, which operates more than 200 self-storage properties across Canada, the United Kingdom and the United States, is refinancing a large portion of ... Government shutdown and mortgage applications: Will you get bitten? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports What's happening with the government shutdown and mortgage closings? Find out how you will (or won't) be affected. Kenya’s Biggest Mortgage Lender Plans to Double Loans in Two Years Bloomberg Kenya's biggest mortgage lender plans to double its home-loan business over the next two years by offering longer repayment periods, its chief executive officer ... How the government shutdown is disrupting mortgage, real estate transactions Bankrate.com As the U.S. government shutdown continues, federal workers aren't the only ones being impacted. Some homebuyers, along with lenders and real estate agents ... Black Knight: 550,000 Homeowners Regain Incentive to Refinance as Interest Rates Fall Slightly; Refinanceable Population Still Down Nearly 50 Percent from Last Year PRNewswire The average interest rate on a 30-year fixed mortgage fell to 4.55 percent on Dec. 27, 2018, returning interest rate incentive to refinance to approximately ... CFPB Assesses Ability-to-Pay and Qualified Mortgage Rule The National Law Review Consumer Financial Protection Bureau CFPB assesses Ability-to-Repay and Qualified Mortgage Rule pursuant to Dodd-Frank Act review. Closely watched mortgage rate up for Tuesday Bankrate.com Mortgage rates showed no clear direction today, but one key rate ticked up. If you're in the market for a home loan, see how that could affect you. Refinance Your Mortgage Quickly: Prequalify in Just 3 Minutes Credible News Let us do the heavy lifting for you. Compare rates from multiple lenders with no impact to your credit score. Refinance your mortgage with peace of mind. Not Everyone Benefited from Lower Interest Rates During the Great Recession Kellogg Insight In times of economic crisis or looming recession, the Federal Reserve can lower interest rates to incentivize borrowing and, therefore, spur economic growth. Mortgage refinance applications hit 18-year low CNBC Mortgage refinance applications hit an 18-year low. With no major move in interest rates and continued weakness in home affordability, there was not a lot of ... Another Dim Outlook for Refinancing Mortgage News Daily Refinancing activity has probably held up better than expected as interest rates have risen. Refinance applications accounted for more than 40 percent of the ... US Mortgages – Rates Drop Further, While Applications rebound FX Empire Mortgage rates slide and applications surge, easing near-term concerns over the housing sector, with labour market conditions still a positive. 9 Housing and Mortgage Trends to Watch for in 2019 MarketWatch It's going to be a challenging year for home buyers in 2019: They will continue to compete for a short supply of homes. Home prices and mortgage rates are ... Mortgage refinance checklist: what you need to refinance your home | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports This handy mortgage refinance checklist tells you what you need to do before refinancing. Get your paperwork in order and know your refinance goals to speed ... Masshousing provides $50 million for the refinancing and renovation of the 489-unit Chestnut Park Apartments in Springfield Multihousing Pro magazine MassHousing is providing $50 million in affordable housing financing to Related Companies, to refinance and renovate Chestnut Park Apartments in Springfield. Weekly refinance demand plummets as mortgage rates hit a 5-week high CNBC A sharp rise in mortgage interest rates took its toll on the lending business last week. Mortgage application volume fell 1.8 percent for the week, according to the ... Cronheim Mortgage Secures $11.5M Refinancing for Office Portfolio in New Jersey REBusinessOnline SOUTH PLAINFIELD, N.J. — Cronheim Mortgage has secured an $11.5 million loan to refinance a four-building office portfolio within the Middlesex Business ... D.C. Delinquent: Chasing Down D.C.'s Worst Offenders for Bad CMBS Debt Commercial Observer The D.C. metro area has the highest CMBS delinquency rate in the country, with 4.59 percent of its structured finance loans late to pay. Factors to weigh when considering whether to refinance your home Washington Post REAL ESTATE MATTERS | If you can lower your interest rate, that's good. But you also have to look at your monthly payment. Will your new monthly payment be ... Mortgage applications fall, as refinancing hits 20-year low CNBC A significant drop in mortgage interest rates was not enough to entice homeowners to refinance their loans last week. Mortgage customers will be stuck with their lender in 2019 | Adelaide Now The Advertiser Mortgage customers will be shackled to their lender in 2019 as it becomes tougher than ever to refinance and save, industry experts have warned. Refinancing activity in the US just plunged to the lowest level in over a decade Business Insider Refinancing activity plunged to the lowest level since 2000 as interest rates rise. How should I apply for a mortgage refinance: in person, by phone or online? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports You can apply for a mortgage refinance in person, over the phone or online. Just make sure that the company is legitimate before providing personal information ... Mortgage rates decline for Tuesday Bankrate.com Multiple key mortgage rates sunk lower today. If you're in the market for a home loan, see what that means for you. Refinance mortgage rates mixed for Saturday Bankrate.com Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage. How To Win A Slice Of $1 Million To Pay Off Your Student Loans Forbes Natty Light is stepping up its commitment to help reduce student loan debt - including potentially yours. Natty Light (a light beer also known as Natural Light and ... U.S. import prices fall; year-on-year drop largest since 2016 Nasdaq Import prices fall 1.0 percent in December; Core import prices unchanged; Export prices drop 0.6 percent. Refinance mortgage rates mixed for Monday Bankrate.com Refinance rates were mixed today. See what that means for you if you're in the market for a mortgage. Mortgage rates move down for Monday Bankrate.com Several benchmark mortgage rates receded today. See what that means for you if you're in the market for a home loan. Refinance mortgage rate falls for Friday Bankrate.com Refinance rates were mixed, but one key rate declined. If you're shopping for a mortgage, see how your payments might be affected. 3 Signs You Should Refinance Your Mortgage The Motley Fool Refinancing at the right time can save you thousands of dollars a year. Credible Expands Their Marketplace Into Mortgage Refinancing Lend Academy Credible made a name for themselves in student loans. They are the first and largest marketplace for people looking to refinance their student loans. Borrowers ... Refinance mortgage rates mixed for Friday Bankrate.com Refinance rates were mixed today. If you haven't locked a refinance yet, see what that means for you. How Millennials Are Adapting to Rising Prices The MReport Millennials are meeting the challenging environment of tight supply and rising home prices head on with this type of mortgage loan. Rep. Slotkin Calls on Secretary DeVos to Help Provide Student Loan Relief for Federal Workers WSYM-TV Rep. Slotkin released a letter yesterday that she sent to Secretary of Education, Betsy DeVos, asking her to proactively work with student loan providers to help ... Refinance mortgage rate ratchets higher for Thursday Bankrate.com Refinance rates were mixed, but one key rate climbed. If you're shopping for a mortgage, see how your payments might be affected. What You Need to Know About Life Insurance in Your 20s Zing! Blog by Quicken Loans You're young, you're healthy, you have years of living ahead of you -- why would you need life insurance? Here's when you may want to consider it. How to refinance to pay off a mortgage faster | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports You probably have a number of ways to pay off a mortgage faster. You can refinance to a shorter term, pay more on your existing mortgage or free up your ... When to refinance: I need to lower my mortgage rate or payment | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports If you're wondering when to refinance, consider your objectives and see if you'll pay less interest, reduce your payment, or lower your overall costs. When Is a Cash-Out Refinance Loan a Good Idea? U.S News & World Report Money In a cash-out refinance mortgage, you take a loan against your home in excess of what you owe, leaving you with cash available to spend. Adding to the debt ... With today's mortgage rates, you can still refinance for lower payments. Here's how | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Many homeowners refinance for lower payments or interest rates. Here's what you need to know about your options and some pitfalls. Refinance mortgage rate eases for Thursday Bankrate.com Refinance rates were mixed, but one key rate dropped. If you're in the market for a mortgage, see how your payments might be affected. Mortgage application activity rises on uptick in refinance volume National Mortgage News An increase in refinance activity in the period after Columbus Day drove mortgage applications 4.9% higher from one week earlier, according to the Mortgage ... Regulator Signals New Deal for Mortgage Prisoners CLNews By Trevor Clawson. Imagine for a moment that you're shopping for shoes. You see a pair costing £100 and a swift glance at your bank account confirms that you ... What the government shutdown means for New Jersey agencies NorthJersey.com Travelers could face long lines at Newark Airport because of TSA employees calling out sick, and the Paterson Great Falls visitor center is closed. Best cash-out refinance lenders 2019 | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports If you want to pull equity out of your home in 2019, check out this list of best cash-out refinance lenders. Because mortgage rates and costs for cash-out ... Rates Are Rising, But Is It Time To Refinance? Five Scenarios To Consider Forbes If any of these scenarios apply to you, you may want to look into refinancing. Millennial Borrowers Taking Out Larger FHA Loans to Compete for Limited Inventory, Latest Ellie Mae Millennial Tracker Finds Business Wire Millennial homebuyers are taking out larger FHA-backed mortgage loans year-over-year, according to November data from the Ellie Mae Millennial Tracker. Refinance mortgage rate ratchets higher for Friday Bankrate.com Refinance rates were mixed, but one key rate increased. The average rate for a 30-year fixed-rate refinance advanced, but the average rate on a 15-year fixed ... Texas cash-out refinance: new laws you need to know | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Cash-out refinance Texas rules for homeowners in Texas. Texas cash-out refinancing is different from other states and you'd better know the rules before taking ... Refinance mortgage share falls back to 2018 low National Mortgage News As mortgage rates recently hit their highest point in seven years, closed refinances fell back to their low point of 2018, according to Ellie Mae. Thinking of Refinancing Your Mortgage? Check These 4 Financial Areas First Forbes Refinancing your mortgage can be a great way to save on your monthly payment or to change up the terms of your loan. However, while it's a financial move that ... Rocket Mortgage Review Bankrate.com Rocket Mortgage from Quicken Loans lets you apply for a mortgage in minutes using nothing more than a smartphone app. Refinance rates tick lower for Thursday Bankrate.com Several key refinance rates declined today. See what that means for your refinance chances. Do mortgage lenders have minimum mortgage amounts? | Mortgage Rates, Mortgage News and Strategy The Mortgage Reports Are there minimum mortgage amounts to buy or refinance a home? Not according to most official program guidelines, but most lenders do set minimum amounts ... Refinance rates slide for Wednesday Bankrate.com Several key refinance rates declined today. If you're shopping for a mortgage, see how your payments might be affected. Refinance mortgage rates mixed for Thursday Bankrate.com Refinance rates were mixed today. If you're in the market for a home loan, see how your payments might be affected. How Long Does It Take to Refinance a Mortgage? Realtor.com News How long does it take to refinance a mortgage? Refinancing should take anywhere from 30 to 45 days on average, although that can stretch to 60 days if you hit ... Refinance mortgage rate eases for Saturday Bankrate.com Refinance rates were mixed, but one key rate slid lower. If you're shopping for a refi, see how your payments might be affected. |
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