Refinancing

**With interest rates at an all time low and the economy picking up after the recent recession you may be looking to refinance your commercial property in order to:

• Fund future projects
• Consolidate debts
• Inject some instant cash flow into your business coffers**

However, lenders’ criteria are now tighter than ever and there are significant costs involved in refinancing a commercial property mortgage. You need to engage a law firm who are experienced in dealing with both the main lenders and the smaller players who may offer more flexibility for smaller or start-up companies.

Refinancing – points to consider

If you are thinking of refinancing your commercial property you need to ensure you take into account the following:

• The costs associated with refinancing, for example you will need to include the costs for valuations, lawyers’ fees, lenders’ fees, and insurance into your budget
• The time it will take you to organise refinancing against the benefit you will receive
• Make sure you shop around for the best deal and interest rates

Why choose Bennett Oakley to advise on refinancing?

Our lawyers have the necessary experience and commercial knowledge to ensure your transaction is researched, documented and processed quickly and efficiently in order to save you time and money. We offer a fixed fee service so you will know your legal costs up front. Our long-standing relationships with lenders will also assist in speeding up the process and ensuring you get the finance package that is right for your business.