Commercial Mortgage Overview
The applicant should have an experienced business accumen, and understand changes which are occuring in the petrol sector.
Commercial mortgage contribution is usually in the region of 35-40%. The larger contribution is due to environmental issues that can influence the marketability of the property. Repayment is normally up to 10 years due to the specialist nature of the property.
Documents Required
- Existing financial information of outlet, profit and loss accounts, balance sheets, etc.
- Details of the trading terms with the oil company and other suppliers.
- Bank statements.
- Latest environmental / petroleum officer report.
*This guide is for information purposes only. You should seek professional advice on your commercial mortgage requirement from a commercial mortgage broker that holds a consumer credit licence.
