As many business owners continue to refine their business strategies for 2021, it’s worth considering the opportunities connected to active markets like commercial mortgages. Expanding the business or looking to buy-to-let property are just a few of the reasons why you might be interested in commercial mortgages, also known as business mortgages, as it enables you to raise funds and borrow money that is secured against property.
Why is it such an active market? Factors like more people working from home and an increased use of digital technologies provide a backdrop for some of the activity seen in recent years. Following the pandemic, these trends have only intensified, resulting in a significant number of trading businesses having to reassess their borrowing needs so they can carry out activities like repurposing premises for alternative use.
Some other examples of activity that might occur in this area are businesses with office spaces looking to repurpose these premises following the shift to working from home during the pandemic. With experts calling the effect of stalled immigration on the property market limited to short term, coupled with an increase in expat Australians returning home, we can expect to see the residential property investor market remain active.
To summarise, we expect commercial mortgages to remain a busy area of funding throughout the year, and certainly a relevant area for business owners to explore. If you’re interested in purchasing or re-mortgaging property or land for commercial use, Swoop’s team of experts can help you secure the ideal commercial mortgage for your business. Simply sign-in or register an account for free to get started.