All Topics / Finance / Retail property finance – best deal?

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  • Profile photo of jwnjwn
    Member
    @jwn
    Join Date: 2006
    Post Count: 2

    I have 1 retail properties which I am seeking to re finance.
    Nett rent is $36000 with a remaining 3X3x3 with CPI increases pa
    Appears that financial institution will only finance 60% of the property and change about 1% more than the residential rate. Can any one point me to a better deal. Looking at both principle or principle & interest depending on the deal. I can propable cope with 60% financing or extra % rate but not both..appears financiers want both ends of the stick[baaa]

    Profile photo of Alistair PerryAlistair Perry
    Participant
    @aperry
    Join Date: 2004
    Post Count: 891

    Hi JWN,

    You can do substantially better than that in terms of both rate and leverage. The rate will be heavily dependent on the actual size of the loan and the Leverage that you want. You can get very good rates up to 70% quite easily, if you want to go higher there are a number of ways you can do it and which is best depends on factors, particularly how much higher you want to go, how strong your servicability is and how rate sensitive you are.

    Sorry if this is a bit vague, but i would need more specific information to give you any further info.

    Regards
    Alistair

    Profile photo of Richard TaylorRichard Taylor
    Participant
    @qlds007
    Join Date: 2003
    Post Count: 12,024

    Alistair is right a loan of upto 80% is available but the rate of interest would depend on many things inclusing the size of the loan and the location of the security.

    If you are looking at a fixed rate then there are many attractive commercial fixed rate deals around at the moment.

    Further information would be required to give a valued recommendation.

    Cheers

    Richard Taylor
    Residential & Commercial Finance Broker.
    Licensed Financial Planner.
    Ph: 07 3720 1888
    [email protected]

    Richard Taylor | Australia's leading private lender

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781

    As the guys above have said this is a whole different ball game to resi finance with fewer “out of the box” products available. Most things are tailored and you need to find a good commercial finance broker who can approach multiple lenders and negotiate a best deal on your behalf.

    All the best

    Simon Macks
    Residential and Commercial Finance Broker
    ***NODOC @ 7.15% to 70% LVR***
    [email protected]
    0425 228 985

    Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.

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