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Mortgages for Residential Homes

The demand for care services for the elderly is greater than it has ever been, and buying a residential home and running it can be extremely rewarding, both professionally and financially.

At Commercial Mortgages Fast we can help you buy a property in which to establish a residential home or buy a going concern of which the property is an integral part.

If you already own a property which is an established residential home, Commercial Mortgages Fast can help you unlock the capital you have tied up in it.

Buying a Residential Home.

With an increasing number of both new companies looking to acquire businesses in this sector as well as established operators seeking long leases on premises in which to locate their businesses, buying a residential home (even if you’re not a healthcare professional), presents an attractive investment opportunity.

Commercial Mortgages Fast can arrange suitable mortgages for residential homes from across the whole lender market, with specialist ‘investor mortgages’ available when needed.

What if you already own a Residential Home?

The Care Standards Act (2000) introduced new standards for residential homes, and many buildings, especially older properties, require modifications to meet those standards. If you own a residential home, or a building you plan to convert to a residential home, a commercial property remortgage can unlock the capital in your property.

This can allow you to make structural alterations or to refurbish your residential home. And, as Commercial Mortgages Fast believes that how you use the funds you obtain is your business and not ours, you could even choose to use the money you unlock for personal reasons outside of the business.

Who to talk to about buying or remortgaging a Residential Home.

Commercial Mortgages Fast is ready to help if you are thinking about buying a residential home, or raising money against a residential home you own.

You may feel you should talk to your bank first, but your bank is in the business of selling its own financial products and its business lending manager isn’t free to lead you to the best commercial property mortgage for you.

At Commercial Mortgages Fast, our specialist banking partners provide a broad range of commercial property mortgages, and we match you with the one that’s best for your needs. Commercial Mortgages Fast can help you raise up to 70% of the residential home’s value, and possibly more if you’re able to put up additional security.

At Commercial Mortgages Fast we can help you in any circumstances. We’ll build the perfect solution for your residential home, and you, on your terms.

Why choose Commercial Mortgages Fast to help you buy or refinance your residential home?

  • Your Commercial Mortgages Fast commercial property mortgage will mirror your exact requirements. We’ll consider your needs carefully and deliver what’s right for your business.
  • We have specific commercial mortgage products and interest rates designed to fit any circumstances.
  • You can secure as much as 70% of the property value on a Commercial Mortgages Fast commercial mortgage or commercial remortgage.
  • Commercial Mortgages Fast offers a truly independent approach and always ensures you receive the best product and deal for your circumstances.

How much do we charge for our services?

Following receipt of your completed Commercial Mortgage or Remortgage form, we will undertake a proper review of your application. We will document and log all of the key facts relevant to it and the financing options that are available to you and your business. This will help to ensure that any recommendation which we make to you will be the most appropriate for you and your business after taking full account of your circumstances.

Once we have made our recommendations to you we will confirm our advice in writing.

Standard commercial mortgage application

This applies to any application where satisfactory accounts are provided and where there are no adverse credit issues. Our Professional Services Application Fee for a Standard application is currently £499 for each mortgage contract.

This fee which will be payable by Credit or Debit card at the time of application will cover the costs of any case work involved in preparing, submitting and managing your application/s. In addition to any Professional Services Application Fee, on completion we will receive a fee from the lender.

You will not have to pay any other fees.

Adverse credit commercial mortgage application

For any application where there are no accounts, or there is an impaired credit history, for example, CCJs, missed loan repayments or defaults, our workload will increase substantially. Accordingly, our Professional Services Application Fee will be £699 for each mortgage contract.

This fee which will be payable by Credit or Debit card at the time of application will cover the costs of any case work involved in preparing, submitting and managing your application/s. In addition to any Professional Services Application Fee, on completion we will receive a fee from the lender.

We will also charge Professional Services Fee of 1% on completion.

Refund of fees

If we are unable to secure an offer from any lender in respect of your application, you will receive a full refund of any Professional Services Application Fee which you have paid to us. If the application does not proceed for any other reason you will not receive a refund.

Valuation/Survey fees

A valuation / survey fee will be required as part of the application process and we will advise you of the exact amount at the time of application.  All valuation / survey fees are payable at the time of application by Credit or Debit card and are completely non-refundable.