Just wondering if anyone can help me with a bit of advice.
I am currently purchasing a small office via a trustee company.
This is our first commercial office purchase (and first purchase under trustee company) and have been told that we need to apply for a commercial/business loan for the office.
Does anyone know if this is correct? I know the interest rates are higher for business finance so I wanted to double check before we finalise our finance.
Also does anyone know of any good mortgage brokers that are still taking customer that can do applications in trustee company name? Some brokers I have spoken to don't understand this setup so we have gone to directly to ANZ at this stage but would love a second option off a broker. This is only a very small loan so I know most brokers probably wouldn't be interested.
Any advice would be greatly appreciated.
Jmr hate to say every lender you approach will consider the deal as a Commercial loan because of the security.
This is not to say that all terms and conditions will be the same and they indeed do vary considerably in the market space.
Richard Taylor | Australia's leading private lender
Hi Jmr
The broker you want to talk to, just answered your question…
Matt
Thanks Richard and Matt for your reply. Just wanted to make sure I was proceeding down the right track with our commercial loan. It hard being new to it all but I knew you guys would know.
Richard if you don't mind I will give you a call when we find another property to purchase and see if you can do the application for us.
Thanks again.
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