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A commercial mortgage is similar to a residential mortgage in that funds can be borrowed over a long period of time, usually a maximum of 30 years, secured by a first charge on the property being bought.

In taking first charge, the lender is first in the queue to recover any debt if the property ever needs to be sold. This could happen because the mortgagee wishes to move on and sells, or perhaps has defaulted on the repayments causing the lender to foreclose.

If a first charge business mortgage already exists, it is common for different lenders to advance funds secured by way of a second charge which puts that lender as second in the ’security queue’.

Unlike residential mortgages, almost all commercial mortgages are variable rate loans which fluctuate in line with the Base Rate set by the Bank of England’s Monetary Policy Committee. So, if a mortgage lender offers terms which include an interest rate of say ‘2% over base’ then a base rate of 4.5% would result in an interest rate of 6.5% being applied to the loan.

Some lenders will link their interest rates to LIBOR, which is the London Inter Bank Offered Rate. LIBOR is published every day in the Financial Times and can be found on a variety of other financial websites.

Commercial Mortgages can be secured against most types of freehold or long leasehold properties, such as shops, pubs, care homes, restaurants, offices, industrial factory units and more. Applying for a commercial mortgage is very much like that of a residential mortgage except that the maximum that can be borrowed is 60% of the assessed Market Value, although one or two lenders will advancelend up to 75% depending upon the proposal.

These percentages are known as the Loan-to-Value ratio, or LTV. A lower LTV means that the risk to the lender is reduced. The higher the LTV, the greater the risk to the lender and it is likely that a higher interest rate would be charged.

Lenders will not generally advance above 75% LTV to ensure that there would be enough security in the event of a forced sale, perhaps through auction when it is expected that property will sell at a discounted rate. When looking for a commercial mortgage it is advisable to shop around for the best deals and to use a specialist commercial finance broker who will possess the necessary expertise to advise you accordingly.

Currency Trading

WD Gann spent 10 years researching the principles behind his stock and commodities trading methods. We have captured the essence of Gann’s trading method and explain it to you in a way that is easily understood. This material isn’t for everybody. To get the real benefit of trading the WD Gann’s Square of Nine you must take the time to learn the “personality” of the charts you trade. WD Gann used 100 year charts and he always knew where his tickers were on the Square of Nine in relation to every major high and low. Experiment with our online Square of Nine Calculator. It’s not necessary to duplicate Gann’s work ethic to trade the Square of Nine, but if you expect to dominate forex or the stock market after 10 minutes of effort then WD Gann is not for you. More info gann square of nine.

JM Hurst Cycle Trading digs deeply into Hurst’s 1970 stock market cycles book to pull out one simple and easy to use technique for forecasting the price and time termination point of market swings. This technique works in all markets and in any time frame. It can be easily and quickly implemented on any trading platform or in almost any charting program. Your trading assistant tells you when swing tops and bottoms will end in any time frame, and which side of the market you should be on. This magic trading technique is so easy to use in almost any trading platform that some people call it ethical cheating. We recommend our JM Hurst ebook to every stock, commodities or forex trader regardless of their primary method of technical analysis. More info j m hurst.

The Elliott Wave Oscillator, or 5/34 Oscillator, is a 34 period simple moving average of prices subtracted from a 5 period simple moving average of prices displayed as a histogram above and below a zero line. You can duplicate the Elliott Wave Oscillator on charting programs with a MACD feature. It can be applied to any time frame (intraday, daily, etc.) and works equally as well in every time frame provided that the correct number of bars are displayed in the chart. More info elliott wave oscillator.

Currency Trading

Javea is a coastal town, in the province of Alicante. It sits behind a bay between two rocky headlands, Cabo San Antonio and Cabo La Nao. Surrounded by orange, lemon and olive groves. The town is dominated by the Montgo peak, 753 metres high, declared a Natural Park in 1997. Javea has many aprtments and villas for sale at the moment. ( or as the Spanish would say, Apartamentos en Venta en Javea )
 
Montgo protects Javea from harsh north winds and it enjoys a micro-climate said to be one of the healthiest in the world. There are more recorded hours of sunshine than anywhere else in Spain making it popular with tourists and ex-pats alike. Which is why there are so many Villas For Sale in Javea ( Chalets en venta en Javea ). There is a population of about 32,000 people which swells to around 100,000 in the summer months. 
 
Javea lies midway between the cities of Alicante and Valencia, which both have international airports and has good road connections to both via the N332  A road or the A7 motorway. There is also a regular bus service to the two cities as well as a daily service to Madrid. The nearest railway station is Gata de Gorgos, a ten minute drive away, with a regular service to Alicante.
 
Javea can be split into three distinct parts, all with properties for sale ( Propiedades en venta en Javea ):
 
The Old Town: once a walled and fortified town to protect it from pirates stone crosses now mark the original gates in three locations. In the centre of the town is the impressive church of Sant Bartolome which dates back to the 14th century although some of the structure may go back as far as the 11th century. The church suffered significant damage during the Spanish Civil War and shell and bullet holes can still be seen in some walls today.
 
There is an indoor market built in 1946 selling fruit, vegetables, meat and locally caught fish.
 
There is also a local museum, “Museo Historico y Etnografico Municipal J.B.Soler Blasco Javea”, which shows the history of Javea and can be visited between the hours of 10.00-13.00 and 17.00-20.00 and 10.00-13.00 weekends and bank holidays, but it is closed on Mondays.
 
The Port: popular with tourists due to its bars, restaurants, safe gravel beach and marina. The first jetty was built in 1871 and was important in the export of raisins. When the raisin trade collapsed at the end of the 19th century it became a fishing harbour which is how it remains today. There is also the landmark church “Nuestra Señora de Loreto” built in 1967, in the shape of a fishing boat going through the waves.
 
The Arenal:a wide beach of white sand with a promenade, bars and restaurants. There is an outdoor craft market during the summer as well as sand artists and street entertainers. There is also a Parador Hotel behind which once stood the “Punta del Arenal” a Roman settlement. On the other end of the bay once stood the Fontana Castle whose canons can still be seen outside the Sant Bartolome church in the old town.
 
Market day is on Thursday except when it is a bank holiday. There are three local fiestas, San Juan in June, Moors and Christians in July and Nuestra Señora de Loreto in September.
 
There is a large range of rental centres and shops catering to a wide range of activities including cycling, diving, fishing, golf, horse riding, sailing and hiking.

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