Finance Choices
Decision Finance Business Mortgages
Decision Finance Commercial Mortgages offer a wide range of Commercial Mortgages. If your company is considering constructing a new building, moving to new premises, expanding facilities or modifying your existing accommodation.
Nearly all UK banks and building societies offer competitive commercial mortgages. However you must first satisfy the lenders' criteria. Some lenders might accept applications where there is an adverse credit history, but nearly all will insist upon a positive personal credit rating and clear evidence that your business is trading profitably and is creditworthy.
Commercial Mortgage UK Overview
Key features and benefits
Commercial Investment
Officefile can provide the commercial landlord with market leading UK commercial mortgage products; you can be assured that Officefile in partnership with Decision Finance can arrange the most appropriate commercial property investment mortgage for your needs.
Commercial Owner Occupier
We deliver a wide range of mortgage products tailored to the needs of the commercial owner-occupier. The Decision Finance quote service can assist on all aspects of your business mortgage borrowing requirements. Own your own business property with a commercial owner-occupier mortgage, and let Decision Finance find the right deal for you.
Development Finance
Specialising in providing development finance for commercial property developments. Dealing with clients across the spectrum from multi-million pound commercial developments to smaller residential developments costing tens of thousands of pounds.
Summary
They have schemes for buy to let / residential investment mortgages, commercial mortgages and commercial investment mortgages. Whatever your financial situation and need, Decision Finance endeavours to help you secure funding. They work with the leading providers for each financial product and provide you relevant, free quotes, most of them instantly.
To find out more visit the Decision Finance Business Mortgages webpage
Nearly all UK banks and building societies offer competitive commercial mortgages. However you must first satisfy the lenders' criteria. Some lenders might accept applications where there is an adverse credit history, but nearly all will insist upon a positive personal credit rating and clear evidence that your business is trading profitably and is creditworthy.
Commercial Mortgage UK Overview
Key features and benefits
- Secured on your business premises
- Loans for up to 70% of purchase price or open market value, whichever is lower
- Variable, fixed or capped rates of interest
- Variable, LIBOR, fixed or capped rates of interest
- If the proceeds of the plan exceed the amount required to repay the mortgage, then this can be received as a cash lump sum by the borrower
- Some plans are tax-efficient
- Flexible repayment terms, including interest only loans with bullet repayments at end of term or capital repayment holidays
Commercial Investment
Officefile can provide the commercial landlord with market leading UK commercial mortgage products; you can be assured that Officefile in partnership with Decision Finance can arrange the most appropriate commercial property investment mortgage for your needs.
Commercial Owner Occupier
We deliver a wide range of mortgage products tailored to the needs of the commercial owner-occupier. The Decision Finance quote service can assist on all aspects of your business mortgage borrowing requirements. Own your own business property with a commercial owner-occupier mortgage, and let Decision Finance find the right deal for you.
Development Finance
Specialising in providing development finance for commercial property developments. Dealing with clients across the spectrum from multi-million pound commercial developments to smaller residential developments costing tens of thousands of pounds.
Summary
They have schemes for buy to let / residential investment mortgages, commercial mortgages and commercial investment mortgages. Whatever your financial situation and need, Decision Finance endeavours to help you secure funding. They work with the leading providers for each financial product and provide you relevant, free quotes, most of them instantly.
To find out more visit the Decision Finance Business Mortgages webpage
posted by Barbara Gordon at 10:30 AM
Decision Finance Business Mortgages
5 Comments:
Whatever your financial situation and need, Decision Finance endeavours to help you secure funding. They work with the leading providers for each financial product and provide you relevant, free quotes, most of them instantly. Decision Finance offer a range of Commercial and Buy to Let Mortgages and are well worth checking out.
We are looking for a business mortgage for around £200,000
for a boarding kennels -- can some one point us to a site / company thats above board and not a shaddy outfit like you find in doltons kind of mags.
Try any of the big banks. One of their small business advisors would certainly be happy to go through your business plan with you if there was the potential to get a £200k mortgage out of it. Alternatively try a local small business advice service like Business Link, who would look over your plans and let you know if the idea's likely to succeed. As long as you know what you're doing and have a sound business plan then chances are the banks would be fighting for your business!
Hi, I hope someone can help us here as we are pretty confused!
My partner and I purchased a building which we wanted to convert the top to a flat (which we did) to live in and and use the bottom as business premises.
The building cost us £100k
We converted the flat and separated it from business to residential and sold the flat for £117k and purchased a home. So we were still left with part of the building for business premises.
We then decided to put the whole of the loan for the £100k into our residential mortgage (as it was cheaper than the business mortgage) which we now think we may have made a mistake on as we may pay more tax?
We now have the business premises which we are in the middle of getting planning permission to convert into a flat as the business isn't performing as well as we hoped and we would like to move somewhere eventually with a house and outbuildings to live in and put the stock for the business in the outbuildings.
Our worry is as we have a home now (in both our names) and the business premises is in my partners name, if he gets planning permission to convert into residential and then sells that to move into a joint home/ business again he may have to pay tax on the profit of the business premises? which doesn't seem fair as the business has only been making about £6k a year profit and all the loan on the building is now paid by us (the business only paid the mortgage on the £100k for a year and was split so that we paid half as above was the flat)
If I do an adjustment in the accounts to say that the business was purchased for £100k, which £40k was for the flat we converted and £60kk was for the business premises if we sell the business premises for £80k once turned to residential would that mean only tax on £20k would have to be made?
Or is there something were if we are turning the business into residential and moving the business premises to our new home would we get out of paying tax there.
Or would it be better if my partner changed his name on the home we have to just my name so that when he sells the business premises after conversion the building would be his main home?
I hope someone can help us as we haven't got much money as the business is costing us a fortune as it is not making my partner much profit.
I hope this makes sense but please let me know your comments
Firstly, did you live in the flat - if not, you will have capital gains tax on the profit made when it was sold.
Secondly, you will be liable to capital gains tax on whatever profit is made when the downstairs is sold - i.e. difference between selling price and apportioned purchase price, less costs and any improvements. As long as it has been used for the business, the capital gains will be reduced by business asset taper relief.
If you are legally married, he could transfer half of the property to you (with no tax effect at that time) and then it could be sold, enabling you both to use your annual CGT exemption. If you aren't married then if half is transferred to you, it will be at current value for tax purposes and he will have to pay capital gains tax on the value at the time of the transfer, so probably less beneficial.
It doesn't matter on which property the borrowings were secured on, or whether they were a business loan or private mortgage - you will still be entitled to relief on the loan interest for purchasing the portion of the property used for business. This interest is allowable against the trading profits made by the business. If, as you say, £40k of the loan was for the business, then 40/100 of the interest is allowed against business profits. But, of course, you can't "decide" on the 60:40 split - it has to be the correct split according to market value of the property, so you may well need a surveyor or estate agent to provide a professional valuation.
Don't confuse the "capital" profit on the sale of the property with the "trading" profits of the business - they are computed under different rules and taxed under different rates and allowances. It doesn't matter if the business was not making much trading profit - that is taxed as trading profits, the profit on the building is taxed as a capital gain - never the twain shall meet!!
Post a Comment
<< Home