I am thinking of buying a block of 4 units on the one title.
But I read that this will be treated by lenders as a commercial loan which has a higher interest rate and more deposit.
Is this true ?
Is there any way around it to get a loan with terms and rates that are comparable with normal residential home loans ?
Can someone recommend me a good mortgage broker / lending institution in Melbourne that has a good solution for this ?
Thanks in advance !
Hi there
No thats not quiet right. We did a block of 8 for a forumite last week and that was done at residential rates of interest.
Admitedly you may not get more than 80% LVR but you should certainly be paying residential rates of interest.
Would need a little more information to be able to provide you with a rate of interest and some terms.
Richard Taylor
Residential & Commercial Finance Broker
**Lodoc Commercial loans from 7.39%**
Licensed Financial Planner
Ph: 07 3720 1888
[email protected]Richard Taylor | Australia's leading private lender
You must be logged in to reply to this topic. If you don't have an account, you can register here.
