Spend travel money on your holiday instead of overpaying conversion fees.
A commercial mortgage is your business’s trusted ally, firmly secured by your commercial property. It’s not a one-size-fits-all deal; it’s a solution tailored to your budget, property, and business needs. Finding the best rates, and an ideal lender is a journey that’s made easy with the guidance of a dedicated commercial mortgage team at Monefi. Book your free consultation today!
Why compare travel money with Monefi?
When securing a commercial mortgage, it’s essential to be aware of associated fees:
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This fee covers the loan’s arrangement. Typically ranging from 0.75% to 2% of the loan amount, it can often be added to your mortgage. Keep in mind that adding it to your mortgage means you’ll pay interest on this amount throughout the mortgage term. Speak to our mortgage expert before you opt in to avoid overpaying.
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This fee covers the cost of a property valuation by an appraiser appointed by the lender. Valuation fees for commercial properties are often higher than those for residential properties. This is because the valuation expert considers factors such as rental yield and marketability.
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Legal fees can vary widely based on your choice of solicitor, costs usually begin at a few hundred pounds.
How to buy travel money with Monefi?
Click on “Get a quote”
Choose your currency
Decide the amount
We compare options for you
Receive the travel money
What are the pros and cons of taking cash on holiday?
There exist two primary categories of commercial mortgages:
Advantages
This variant is designed for the acquisition of property intended for your business operations. It can be used to purchase your current business premises or secure new property for your operations.
Disadvantages
If your goal is to invest in property, such as for rental purposes, this mortgage comes into play. In the case of residential properties, a buy-to-let commercial mortgage is required. It's also suitable for semi-commercial properties with mixed commercial and residential use, such as a storefront with residential flats above it.
Latest news:
Are all travel currencies accessible for purchase as travel money?
The down payment for a commercial mortgage typically falls in the range of 20% to 40% of the property’s value. However, the exact amount can vary based on factors like the lender’s policies, your financial situation, and the type of property you’re purchasing.
A comparison between travel money and a travel credit card – which is more advantageous?
Eligibility criteria for a commercial mortgage often include factors like creditworthiness, business viability, deposit amount, business plan, property type, loan purpose, repayment source, legal structure of your business, your experience, age, and the condition and value of the property.
Book a free consultation call with us to learn about your eligibility!
Which is more cost-effective: withdrawing cash abroad or exchanging travel money before your trip?
A commercial mortgage can be a game-changer for your business, offering versatile options such as:
- Property acquisition
- Purchasing an existing business
- Releasing capital for investment
- Property development
- Investment in properties for leasing
- Revamping your business premises
- Acquiring vehicles, machinery, and equipment
- Harness the power of a commercial mortgage to elevate your business to new heights
