Office Mortgages and Finance – The Basics

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Office Finance Information
The amount of mortgage finance offered by lenders for the purchase of an office property will depend to some extent on who will occupy the property. Will it, for example, be occupied by the purchaser’s company or is it being bought to rent to a third party, or will it be partly occupied by the purchaser and partly let to others?

Office Mortgages – Charges, Costs & Availability
If the purchaser is planning to occupy the office space, many lenders will offer a mortgage of up to 80 percent of the property’s value. For investment properties, a mortgage loan of up to 70 percent of the value of the office building would normally be available. Many high street banks are keen to lend money for the purchase of office premises and will often be sympathetic to applications to buy and refurbish older buildings, particularly if an investor is able to charge higher rents after renovations have been completed.

Owner Occupied Office Property
For most companies searching for office accommodation for their own use, the price of the building is probably the single most important issue. However, several other factors need to be considered in order to ensure that suitable premises are acquired, including:

Office Dimensions
 How much space is needed?
 How many staff will be working in the building and how will they be distributed within the building?
 Is space required for future expansion?
 Could this additional space be sub-let to tenants in the short-term to generate extra income?

Office Facilities
 Is the building more suitable for individual offices or for open plan use?
 How is the building heated?
 Are there sufficient toilets for everybody?
 Is access for disabled people adequate?
 Will the building’s electricity supply and electrical wiring support all the electrical equipment that is required?
 What telecommunications infrastructure is needed?
 What kind of computer network is required – ethernet cabling or wireless, or a combination of both?
 How many members of staff require telephones, computers and broadband internet access?
 Does the property project a favourable image of the company to customers and suppliers?

Office Location
 Can the business function successfully in the chosen location?
 Can staff get to work easily (by car or by public transport)?
 Is there sufficient parking for employees and visitors?

Summary
 The percentage mortgage offered by lenders and the availability of office mortgage financing is largely determined by who will occupy the property;
 financial institutions will lend money for serviced office ventures if the business plan and income projections are sound;
 many high street banks and mortgage lenders are particularly keen to provide mortgages for office renovations or refurbishments that are likely to increase the potential letting revenue to be derived from the property.

AccessCommercialMortgages Ltd can help with all types of office based mortgages contact us today for a fast response - click here...

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Office buying resources:
Office buying advice
Office information
Office planning and buying

See Also:
Office Property Investment
Buying An Office