What can Property Loans be used for?Published on 23rd July 2018 2018-07-23T11:51:10+00:00 - Last update on 31st December 2018 2018-12-31T14:22:56+00:00
For many UK sectors, property is a valuable investment. It enables you to trade, maintain day-to-day operations and enter new markets. Yet regardless of whether you’re trying to take the first step onto the property ladder or invest in your portfolio, the main obstacle holding you back could be the cost outlay. But, if you’re determined to achieve your property goals, whatever they may be, applying for a Property Loan could be the answer. Property Loans typically arrive in two forms, Commercial Mortgages and Bridging Loans, giving you access to the capital necessary for pursuing and achieving your property aspirations. However, to offer you some inspiration, here are just some of the ways in which property loans can be used.
Whether you’re looking to acquire your first permanent premises, move to a more prominent location or branch out into new markets, purchasing property is always going to expensive. However, using a Property Loan could allow you to spread out the cost of property, minimising the pressure on your finances. So regardless of whether you’re a property owner or not, applying for a Property Loan could help you take the next step in your business’ journey.
If you’re already a property owner, maintaining your portfolio is a vital responsibility. But if you’re going to invest, you’ll naturally wish to generate a healthy return. Depending on the purpose of the property, this means ensuring that your portfolio lives up to the expectations of your customers, clients or tenants. But, in order to achieve this goal, you may want to consider carrying out refurbishments. This could involve adjusting interior and exterior aesthetics, laying new flooring, revising your floor plan, adding additional electrical sockets or any other non-major structural alterations.
However, if your property needs more than just a lick of paint, a Property Loan could be used to help you carry out vital renovation projects instead. This is a more extensive form of redevelopment which may require additional expertise and architectural planning. As such, this could involve repositioning weight-bearing walls, adding extensions, rejuvenating a dilapidated property or even maintaining aspects of a grade-listed building.
On the other hand, if you’re dealing with a piece of land, you can also use a Property Loan to support groundworks as well. Such projects typically affect how the land is used or preparing it for any other plans in the near future. As such, this could range from land purchases, earthworks, piling, deep soil mixing to the construction of a new property.
Could your business benefit from a Property Loan?
With the cost of property in the UK continuing to rise, pursuing your property-specific goals can be daunting, especially if you’re a developing SME. Yet although it can be tempting to postpone or cancel your plans, there are finance solutions available that could help. Property Loans can be used to raise capital for a wide range of purposes, so there’s no need to stifle your aspirations. All you have to do is source an agreement appropriate for your goals, from a lender that you can trust. But with so many options to choose from, how can you be certain that you’re making an informed decision?
At Rangewell, we’re an Access to Finance specialist working with over 300 lenders to offer you an overview of more than 23,000 business finance products. Our services are free to use and we’ll also guide through the application process. We’re with you every step of the way. So, apply for Property Finance today or find out more with Rangewell.
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