Buying a property for your business is quite a different process to securing a home loan. There is less legislation governing commercial property; therefore, the banks have more freedom with their lending policy.
Often a commercial property is more difficult to value and therefore represents a higher risk to a lender. As a result, it’s likely the bank will undertake a more detailed valuation and risk assessment process.
Things to consider when arranging a commercial loan
- The deposit required is likely to be higher than for a residential property
- Interest rates are higher for commercial property loans
- It can be harder to sell a commercial property
Commercial Property Loan Services
We have been advising clients on how to buy commercial properties for many years. We support you at every stage of the process.
- Negotiation; we can negotiate with lenders on your behalf to secure a competitive interest rate
- Paperwork; we ensure you have all the necessary documentation in place before any application is made, for example, financial statements, tax returns or BAS.
- The numbers; we assess your borrowing requirements based on the property value and any deposit you may have
- Restructuring; we can assist in restructuring your asset portfolio to make the lenders decision more straightforward
- Potential; we review your lending potential based on your assets and current level of debt
- Fees; we explain the various types of bank and third-party fees involved from valuation to settlement fees and ensure you’re prepared for these throughout the process
Why we are best placed to advise on Commercial Property Loans
- Highly experienced team
- Quality relationships with lenders
- Deep understanding of the commercial property loan market
Considering buying commercial property? Talk to us today and let’s work together to take your business to the next level.