All Topics / Finance / Retail property finance – best deal?
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]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
AlistairAlistair 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
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 985Comments 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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