90% LVR for Commerical Property

Viewing 5 posts - 1 through 5 (of 5 total)

VStar
Participant
@vstar
Join Date: 2004
Post Count: 48
March 4, 2004 - 7:27 am
Hi,
I was wondering if there are any lenders that will lend 90% of the price of a commercial property? This will be my first investment and i have not previously purchased any property before.
Thanks in advance.
V
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
March 4, 2004 - 8:13 am
Every commercial deal is assessed individually.
You will need to contact a commercial broker to have him assess the deal.
If you cannot find one then email me and I will refer you to someone I use.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Terryw
Participant
@terryw
Join Date: 2001
Post Count: 16,213
March 5, 2004 - 12:41 am
Commercial deals are usually around 75% LVR, soemtime you can get 80%. I ahve never heard of anything over 80% LVR, but I do not specialise in this area, so may be wrong.
Terryw
Discover Home Loans
North Sydney
[email protected]
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email Me
Lawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Mortgage Hunter
Participant
@mortgage-hunter
Join Date: 2003
Post Count: 3,781
March 5, 2004 - 12:48 am
Terry,
I think they can do cocktail loans with a combination of lending as you described topped up with private funds.
I imagine it would be at a significantly higher rate.
Also a 100% lend may be possible if the client has additional security as you know.
Cheers,
Simon Macks
Mortgage Broker
http://www.mortgagehunter.com.au
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.
Administrator
Keymaster
@piadmin
Join Date: 2013
Post Count: 3,225
March 5, 2004 - 1:17 am
90% ?
Impossible.
I’ve got clients who are very experienced, are excellent prospects in a lenders (and mortgage insurer’s) mind (no defaults, good serviceability and net assets of at least $ 500 K) and yet are unable to borrow even below that 90% rate.
They have net assets of $ 4M (and in another case
$ 10 M) yet could not borrow at that rate.
Borrowing 90% on a house, that is something else again
(no problem as long as you are prepared to pay the morgage insurance premium).
Pisces