Finpoint releases new advice on property finance

The Chamber 's preferred business finance hub, Finpoint, has released new advice on businesses who are looking for finance to buy or invest in premises.

Whether a business looking to buy premises for your business, or invest in a buy-to-let property, choosing the right commercial property and finance is critical.

Owning your own premises can be a great way of growing your business - and with a commercial mortgage firms can benefit from any increase in the property value without the constraints that can be associated with renting.

However, Finpoint warns of some additional risk and responsibility when owning a property.

With the boom in staycations and stamp duty holidays, the popularity of buying a property for holiday lets has grown during the time of the pandemic.

Whether you are buying a single property or adding to an existing property portfolio, the opportunities to arrange competitive finance options are growing.

At the Business Finance Hub, Finpoint has a team of business specialists who can explore the options available from a panel of specialist lenders.

Finpoint says other things to think about are:

• Choosing the location carefully
• Rent or buy?
• Keep flexibility in mind
• Considering sub-letting
  
  

Alongside loan interest costs, there are also other fees to consider such as arrangement fees, a valuation fee and legal costs.

Finpoint says the current lending market is giving businesses more options in terms of commercial mortgages, including short-term options, funding for an auction property with existing assets and purchasing commercial property using your pension fund.

A Finpoint spokesperson said: “Whether you 're looking to buy premises for your business, or invest in a buy-to-let property, choosing the right commercial property and finance is critical to the success of your business. The Business Finance Hub can help you find the funding you need to grow

“Whether you are considering your first commercial property investment or are a seasoned property investor, Finpoint can help find the funding you need. ”

The business finance hub is free to use for Chamber members.

For more information and to apply click here.