Commercial Property Finance

Viewing 7 posts - 1 through 7 (of 7 total)

Zacman
Member
@zacman
Join Date: 2004
Post Count: 2
January 2, 2004 - 6:11 am
Hi……….i posted on the other board without any replies..maybe it was the wrong board for the related topic.
However, I am trying to source commercial finance at 80% LVR.
Any suggestions where I may find a list of lenders/institutes/brokers who would in all likelihood be able to assist.
Thanks,
Zacman
melbear
Member
@melbear
Join Date: 2003
Post Count: 2,429
January 2, 2004 - 8:18 am
Zacman, there are at least six brokers that I have seen post on this site.
Mortgage Hunter, Melanie, Stuart, TerryW, saskatoon, Mobile Mortgage, picja1 – that’s seven.
See if you can find any posts by them, and they have their contact details with the posts.
Cheers
Mel
Still in School
Member
@still-in-school
Join Date: 2003
Post Count: 1,844
January 2, 2004 - 8:44 am
Hi Zacman,
Speak with the Mortgage lenders, Melbear has brought to your attention, though i very much doubt you will be able to get finance at 80% LVR for a commercial property.
If you do, please let us know, good luck to you.
cheers,
s.i.s
“People 4 get that by saving just $3 aday & investing it sensibly over a working life, you’ll end up wit around $1 million.”
Julian
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@julian
Join Date: 2003
Post Count: 232
January 2, 2004 - 12:58 pm
Zacman
My experience: I don’t think you can 80% loan unless you have another “fully” paid property for security or your commercial property has a long and good yield contract.Same as S.i.s.If you do,please let us know, Good Good luck to you.
[]
Cheer[8D]
Julian
Julian
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@julian
Join Date: 2003
Post Count: 232
January 2, 2004 - 12:59 pm
Zacman
My experience: I don’t think you can 80% loan unless you have another “fully” paid property for security or your commercial property has a long and good yield contract.Same as S.i.s.If you do,please let us know, Good Good luck to you.
[]
Cheer[8D]
Julian
Administrator
Keymaster
@piadmin
Join Date: 2013
Post Count: 3,225
January 2, 2004 - 4:01 pm
As Julian mentioned, if you have additional security then it would of course be a breeze.
I know that generally 75% is readily available. I also believe that even 80% is a possibility depending on the borrowers strength.
I translate ‘commercial property’ as being a retail shopbuilding, not as office space or industrial.
Some lenders will not however enter into a loan agreement longer in time than the main tenant’s remaining lease term. So if the main tenant has a lease which has only three more years to run quite likely the lender may limit his loan term to three years as well.
The borrower’s income is expected to be sufficient to be able to service the loan.
Pisces133
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AUSPROP
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@ausprop
Join Date: 2003
Post Count: 953
January 13, 2004 - 6:50 am
Yes, and this is an important point when comparing +ve CF residential to commercial. If you are borrowing your residentials on a low doc basis I am told that you are not able to do the same for commercial.

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