any suggestions for lowest rate lenders for commercial property in Sydney/NSW? Who is doing good deals?Scott No MatesParticipant@scott-no-matesJoin Date: 2005Post Count: 3,856
Save yourself half the hassle and contact a broker – Terry/Richard/Jamie should all be capable of doing the job.Jacqui MiddletonParticipant@jacmJoin Date: 2009Post Count: 2,539
To clarify Scott's suggestion:
Richard Taylor (userid Qlds007), or Jamie Moore (Jamie M)
TerryW is a lawyer ,.. unless I've misunderstood somewhere along the line and he is a double agent hehehe.jmsrachelParticipant@jmsrachelJoin Date: 2012Post Count: 711
I’m pretty sure I’ve read somewhere Terryw is also a broker.Jacqui MiddletonParticipant@jacmJoin Date: 2009Post Count: 2,539
Oh you are right! Says so on his info sheet http://www.terryw.com.au/ . How have I gone this long and been unaware. Angry with myself.
There are some excellent Commercial rates around depending on the security and the anticipated lvr.
Would need to know both before giving you an anticipated rate.
Yours in Finance
Lowest rate at the moment is 4.99% for a one year honeymoon rate. Variable and fixed rates are all low at the moment for deals that can be placed with banks. There is no one size fits all loan in commercial, you get very different products depending on what type of property, the amount and LVR, but the 4.99% rate is available across a fair cross section of scenarios.TerrywParticipant@terrywJoin Date: 2001Post Count: 16,213JacM wrote:Oh you are right! Says so on his info sheet http://www.terryw.com.au/ . How have I gone this long and been unaware. Angry with myself.
Yes Jac, I have been a broker about 13 years now. Also qualified in tax, law (and financial planning – almost.)
Current CBA special offers:
* 2yrs @ 5.14% (2 year loan term)
* 3yrs @ 5.54% (3 year loan term)
I would think these are very attractive rates, especially given that cap rates remain reasonably high for commercial property.
Commercial loans starting with a 4 and a 5? really?
Yes PG that's exactly right.
Just went to Contract on my first Commercial investment this afternoon being 6 shops, bit of resi and some vacant land for storage sheds and was offered a very good com rate by my Bank.
Yours in Finance
The figures anyone can post here are sure helpful when aiming at a better deal with the lender.
I'm paying 6.16% on a fixed IO comm CBA loan, and 8.73% on an unsecured P&I CBA comm loan for my motel leasehold.
Sounds like I can do better. Any suggestions appreciated.
Bankwest is offering low 5's, with commercial property as security and personal guarantees from directors, with a big IFS, if the leases are longer than the length of the loanDGL QLDMember@dgl-qldJoin Date: 2013Post Count: 5
If I wanted to borrow $3m for a ready to go now land development what would a commercial lender need to get the deal over the line, I am in Brisbane.
Hi David, It depends if you are wanting to borrow to develop the land or just for the acquisition. These are two very different scenarios, but either way, rates are very low at the moment.LazibonesParticipant@lazibonesJoin Date: 2013Post Count: 4
My West Pac Buisiness One is 4.93, its been under 5% for a few months now.
To be honest for the right Commercial security not much has changed as far as Rates in the Com sphere since the last post.
Yours in Finance