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Our commercial property lawyers will ensure you are in control during the entire process of remortgaging your Commercial Property or Business
Send us a confidential message. Our initial call is always a no-obligation consultation.
Clients who own commercial properties often consider commercial property refinancing, which involves replacing an existing loan with a new one. This can prove advantageous for property owners in various ways. By opting for commercial property refinancing, you may secure a new loan offering reduced interest rates and more manageable monthly payments. Moreover, you have the flexibility to adjust the loan term, potentially allowing for faster debt repayment. Another potential reason to consider refinancing is to access additional funds, which can be used for property renovations or the acquisition of new properties to expand your real estate portfolio.
At Wildings Solicitors, our experienced team of solicitors specializes in guiding clients through the commercial property refinancing process. We are committed to ensuring a seamless experience by conducting thorough due diligence to meet the specific requirements of lenders while safeguarding your assets and funds. Furthermore, our strong relationships with mortgage brokers and lenders facilitate a timely and cost-effective progression of your refinancing matter.
Certainly, you have the option to secure financing using your commercial property as collateral. The majority of lenders typically offer loans ranging from 60% to 70% of the property’s value. In select cases, it’s possible to obtain loans as high as 75% of the property’s value, contingent upon meeting interest coverage ratio (ICR) stress testing requirements.
At Wildings Solicitors, we’ve cultivated strong partnerships with commercial brokers who are well-equipped to support your development requirements, should you seek their assistance.
Under the best conditions, a commercial refinance can be completed in as little as 4 weeks. Yet, it’s important to note that the most budget-friendly lenders are often in high demand, leading to an average turnaround time of 8 weeks. In the post-pandemic landscape, it’s possible for the process to extend to as long as 16 weeks.
In a typical refinancing scenario, the process unfolds as follows:
We are a modern law firm that provides legal services to businesses, organisations and individuals.
To achieve the best possible outcome for our clients by delivering quality legal services.
To continue to develop our reputation for trustworthiness, respect for individuals, families and businesses.
Any legal matter regarding property can be exhausting. The majority of home owners have a substantial amount of money invested in their property. It is subsequently essential that an expert residential conveyancing solicitor be there to advise during the process of a transfer of equity.
Wildings Solicitors have been offering legal services to commercial property owners for over forty years. Whilst a lot has changed, our dedication to quality remains the same.
Our team of experts deal with a variety of different matters.
Our Residential Property Conveyancing team has considerable experience in buying and selling properties. Our team uses an up-to-date case management system and has devised a process, which is designed to provide you with a service of the very highest standard at a very competitive cost.
This enables our team to provide all of our clients with a very fast and effective service.
Send us a confidential message. Our initial call is always a no-obligation consultation.
862-864 Washwood Heath Rd, Ward End, Birmingham, B8 2NG
0330 333 8797
info@wildings-solicitors.co.uk
Monday to Friday
9.00am - 5.00pm
Wildings Solicitors are authorised and regulated by the Solicitors Regulation Authority (no. 552128). Wildings Solicitors is a trading name of Wildings Solicitors LLP, a limited liability partnership registered in England and Wales. Registration Number OC360274 registered office 862-864 Washwood Heath Road, Ward End, Birmingham, B8 2NG. A list of Directors is available from the registered offices. We do not accept service by email.
