LOANS

Commercial Loans

Find cheap commercial loans deals

A commercial loan is probably the best way to finance the purchase of land or buildings for your business. Essentially, a commercial loan works in the same way as a residential mortgage. The lender has a legal claim over the property until the loan has fully been repaid. When arranging a mortgage, consider its effects on your cash flow and assets. This is a complex issue and we would advise you take professional advice. As with residential mortgages you have the option of a fixed or variable rate deal. The pros and cons are as for residential - a fixed rate mortgage assures you there will be no repayment surprises but you are likely to pay a slightly higher rate. Variable rates may be slightly lower now but you run the risk that they will go up. More Info

For whatever purpose, be it home improvements, a special holiday or perhaps even a wedding, Beat That Quote can help you find the right loan in minutes! Simply fill out our loan requirements form by clicking on the link below. The form is quick and easy, and in minutes you'll be comparing great loan rates to find the best deal for your particular circumstances. Hide

Cheap commercial loans comparison

Look out for hidden fees

Mortgage fees. The lender may charge up-front loan or processing fees. Check these fees carefully, and try to get an estimate as soon as possible to help you evaluate the mortgage package.
Prepayment. Ideally, you want to be free to pay off the mortgage (all or in part) at any time before its due date. Unfortunately the majority of lenders are likely to charge a redemption penalty in the first 3 to 5 years of the mortgage. But after that initial period, you should make sure that your mortgage agreement gives you this flexibility and try to avoid a prepayment penalty for paying off the mortgage or part of the mortgage early.
Legal and Professional Fees. Before you finalise your purchase and ownership of the property passes to you, you will incur several closing costs above and beyond the cost of the property and fees arranging for the mortgage. Common expenses to be paid at closing are title insurance, the site survey fee and various fees for preparing the legal documents.

Personal lending for your business

Your alternative to a commercial loan is a personal or secured loan that you take and are liable for where you then use the proceeds fro your business. If the size of the loan is relatively small, say less than £15,000 then this may be available on an unsecured personal loan. If your business requires greater financing then this may be available through a home loan secured against your property.

Find great commercial loan deals

*Potential savings will vary depending on the amount you are borrowing, the rate you are currently paying and the rate you may be eligible for.

THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT. Our service is free to you but to operate this service we receive commisions from the lenders we refer you to. Loans are not regulated by the Financial Services Authority.
For loans, Beat That Quote does not and will not enter into consumer credit or consumer hire agreements as a part of its business.