Bakers should buy, not rent
Small businesses should ditch the landlord and buy their freehold if they want to save money, according to property website http://www.publicangel.com.
It said that many companies could boost their long-term profitability by buying their commercial property instead of renting it.
Recent changes in the commercial mortgage market mean many businesses that currently rent can now get up to 100% mortgages and, in most cases, will end up paying the same monthly amount.
Public Angel's director Nilesh Gohil said: "In years gone by, you could have approached a high street bank for a commercial property mortgage, but without a perfect track record and a hefty deposit you'd have been turned away. These days there are many more lenders available, who are willing to lend 100% of the price of the freehold, secured on the property itself - for bakers with retail premises, this is particularly relevant."
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