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Commercial mortgage holders 'should consider site repairs'

Commercial mortgage holders 'should consider site repairs'
Date: 11/5/2009

Those with commercial mortgages may wish to undertake repairs on the buildings they own ahead of the winter period.

William Davies, managing director of property maintenance firm Aspect Maintenance, said that there could be a "real increase" in the number of boilers that need to be replaced or repaired when the colder weather starts to hit.

Indeed, the industry expert suggested that now is "the perfect time" to commence health checks on commercial property.

Mr Davies said that this will not only help guard against system breakdowns, but it will "also ... save more costly repair bills later on down the line"

In words of encouragement to those business mortgage customers responsible for the upkeep of commercial buildings, he added that prices are currently at a competitive level.

At the end of October, NB Real Estate released an analysis of Office for National Statistics research showing that expenditure on commercial property repair and maintenance has fallen by 22 per cent in the last two years.

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