All Topics / Help Needed! / commercial finance

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  • Profile photo of CountryboyCountryboy
    Participant
    @countryboy
    Join Date: 2004
    Post Count: 2
    August 27, 2004 - 4:08 am

    What is with banks only providing 10yr loans for commercial property. It makes the principle repayments to large to handle. Is this the norm or just my financer.[baaa] Any ways around this?

    Profile photo of Mortgage HunterMortgage Hunter
    Participant
    @mortgage-hunter
    Join Date: 2003
    Post Count: 3,781
    August 27, 2004 - 4:17 am

    That is just your lender. I have lenders who will happily do 20+ year terms.

    Simon Macks
    Mortgage Broker
    http://www.mortgagehunter.com.au
    0425 228 985

    NODOC Loan – 65% Loan – No questions asked!

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

    Profile photo of thecrestthecrest
    Participant
    @thecrest
    Join Date: 2004
    Post Count: 992
    August 28, 2004 - 1:48 pm

    Hey Countryboy
    Guess there’s nothing to stop you refinancing for another 10 yrs after the first 5 or so.
    I just financed a commercial property for 10 yrs myself. Doesn’t seem to be as popular with the lenders as residential that’s for sure.

    Hi Mortgagehunter
    would you please give me some details on those friends of yours with the 20 year loans ?
    ‘twould be much appreciated.

    cheers
    thecrest

    thecrest | Tony Neale - Statewide Motel Brokers
    http://www.statewidemotelbrokers.com.au
    Email Me | Phone Me

    selling motels in NSW

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