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Commercial Property Mortgaging and Refinancing

Portfolio Management

If you are the owner of multiple businesses, ensuring your business portfolios are well managed is key to your companies' success. Portfolio management involves actively analysing business plans and company cashflow and making complex investment decisions, such as whether or not to refinance your business's residence.

What does refinancing involve? 

Refinancing your commercial property involves paying off the current mortgage debt that is attached to the property and replacing it with a new one. The process of remortgaging a property is relatively straightforward, but there are a number of legal technicalities, such as potential title issues, that are likely to require the help of a qualified legal professional.

What issues do I have the potential to face?

Most remortgaging applications are accepted without a hitch, providing that the business owner has a good credit rating. When issues do arise, they are usually predictable and easy to solve, such as problems completing paperwork or delays obtaining evidence that the lender has asked to view. Other issues, however, are more serious, such as those potentially uncovered during your lender's title search.

What is a title search?

When you submit a remortgage application to a lender, the lender will respond to the application by enlisting the help of a title company. The company will conduct searches on your property to determine its title and identify whether any title issues have occurred in the time since your first mortgage was approved. The purpose of the search is to assure that lender that you are the legal owner of the property, and that there are no issues clouding your property's title.

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