In business, our circumstances can change greatly. With these changes often come new opportunities, and shrewd business owners will be quick to capitalise on these newfound gateways to greener pastures.
One such opportunity is the chance to refinance any properties we may currently be paying towards.
While less comfortable financial circumstances in our early days may have left us with sub-optimal payment arrangements for our business real estate, property refinancing now offers us a way to opt for more favourable terms.
Property refinancing essentially involves altering a debt payment schedule to new terms that suit you better – the idea being for the new loan to pay off the old loan. For a business owner this means the loan they took out for their property in the infancy of their business can now be altered to pay less interest and clear debt sooner.
Refinancing can assist with cashflow
A boon to cash flow and a relief to business owners facing decades of loan repayments, property refinancing can help free you of cumbersome financial burdens when done right. Yet refinancing is no simple matter, and you want to make sure you fully understand the terms of your new arrangement, as well as what you may be losing by forgoing your current payment plan.
Here at Robertsons Solicitors we make sure that business owners choose a property refinancing arrangement that is truly beneficial to them. We ensure your needs are met and provide a comprehensive overview of the pros and cons that refinancing brings for your personal circumstances. Then, once a decision has been made, we’re the people to take you through every step of the process to make your refinancing a reality.
Sound financial decisions are key to the health of your business, so let us help you with yours.