apart from having to use a larger deposit are there many other problems in getting finance for commercial properties. ive heard the term of the loan will be much shorter, like 10yrs or so.
The term is often restricted by the lender to be no longer than the lease of the main tenant.
Pisces133
Some lenders drop the term to 10 yrs P&I which can really affect your cashflow [
]Rates are usually higher and as you mentioned LVR is lower.
If you have a residential security as well then it can be quite straightforward.
Cheers
Simon Macks
Mortgage Broker
[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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