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There are lots of things to consider
Fortunately, we're on hand to help you make the right decision for you and your business. Check out our handy hints and tips below.
What do you need from your business premises?
Rent or buy?
Buying a property means you have an asset in your business premises, but you'll also take on some additional risk. If you rent you can move quickly and easily, but you are vulnerable if your landlord decides to sell the property.
Consider what you want from your premises, how long you'll need it and what works best for your budget. The key things to think about are:
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01
Do you need a property that will allow your business to expand?
Commercial mortgages
Sometimes you can quickly outgrow your premises or perhaps you need more property because your business is expanding. That’s where our Commercial Mortgage could help.
Security may be required. Product fees may apply. Over 18s only. Subject to status, business use only. Any property or asset used as security may be repossessed or forfeited if you do not keep up repayments on any debt secured on it.
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Will buying a property put your company at risk financially?
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Do you need a property temporarily or for the foreseeable future?
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Location v affordability - which is most important?
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How will costs impact you now and in the future?
Business finance options
You might need a combination of a bank loan and finance from somewhere else to grow your business. Discover the finance options we could provide and how they can help.
Security and / or a Director’s guarantee may be required. Product fees may apply. Over 18s only. Subject to status, business use only.
Consider all potential costs
It's important to think ahead to avoid any unexpected fees or outlays. Use our checklist below to make sure you've thought of all relevant costs
Potential cost checklist
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01
Deposit, rent and mortgage
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Business rates and utilities
Business rates
Find out more about how rates are calculated and what you need to pay.
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Renting parking spaces
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Decorating, renovations and alterations
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Solicitors and accountant's fees
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Insurance - contents and buildings
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Maintenance and repairs
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Equipment and signage - buy or hire
Can you work from home?
As more companies think about downsizing their office space and allowing employees to work from home, we look at how to get the most out of home working arrangements. Find out about the basics of homeworking, distance management tips and ways to get the best from your remote meetings.