Commercial property loans
The main types of commercial property loans are as follows:-
Full Document Commercial loans
These commercial loans are for customers that are able to supply full financials. On a very strong commercial applicant it may be possible to go up to 80% of the property value.
Low Doc Commercial loans
Can be done up to 75% of the property value. Some low doc commercial loans require an accountants letter. Others do not.
No Doc commercial loans
Normally up to 65% of the property value. can be for both owner occupied and investors.
These loans do not require an accountants letter.
Typically in major metropolitan areas.
Specialised Securities commercial loans
- childcare centres
- caravan parks
- hotels
- motels
- petrol stations
- reception centres
- shopping centres
- car yards
- car parks
- resorts
- service stations
- restaurants
- backpacker accommodation
Both the “freehold value” and the business value or “leasehold value” are considered when looking at specialised securities.
For specialised securities, lenders may also look at an “alternative use” valuation where possible.
