Mortgages for business cash flow or expansion needs
B2B commercial mortgages are for businesses that need a loan for expansion or for cash flow reasons. For this you generally have to go to a specialist commercial loan provider who can understand your business needs and acurately guage your credit worthyness and the worth of your potential business.
How to use a B2B Commercial Mortgage
B2B commercial mortgages are for businesses not for individuals and therefore the market and the rules govening them are different. These mortgages are now overseen by the FSA in the UK.
Regulation should offer a better safety net for consumers. This is because anyone who wants to sell mortgages, from estate agents to mortgage brokers, must be authorised by the FSA or be part of an FSA-authorised network.
In addition, they must adhere to a raft of rules governing sales.
Businesses that fail to comply with the new regime could be forced to stop trading, risk a fine or even a prison sentence.
But the regulatory rules are not retrospective.
They will only apply to mortgages and variations to existing mortgages that came into force after 31 October 2004.
Salesmen are required to disclose any commissions they are getting and, whether they deal with the whole market or just one lender.
If giving advice, advisers have to consider whether you can afford the mortgage, in an attempt to stem irresponsible lending.
The Financial Services Compensation Scheme has been extended to cover mortgage sales.
The scheme is a safety net for consumers, which steps into offer compensation when financial firms go bust.
Regulation should offer a better safety net for consumers. This is because anyone who wants to sell mortgages, from estate agents to mortgage brokers, must be authorised by the FSA or be part of an FSA-authorised network.
In addition, they must adhere to a raft of rules governing sales.
Businesses that fail to comply with the new regime could be forced to stop trading, risk a fine or even a prison sentence.
But the regulatory rules are not retrospective.
They will only apply to mortgages and variations to existing mortgages that came into force after 31 October 2004.
Salesmen are required to disclose any commissions they are getting and, whether they deal with the whole market or just one lender.
If giving advice, advisers have to consider whether you can afford the mortgage, in an attempt to stem irresponsible lending.
The Financial Services Compensation Scheme has been extended to cover mortgage sales.
The scheme is a safety net for consumers, which steps into offer compensation when financial firms go bust.
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by DonCruickshank
Don Cruickshank writes for GB Loans and other UK finacial websites on debt and other finacial and insurance matters.
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