Commercial Property Loans Cannington
For business owners and commercial property investors
Commercial property loans are a great option for business owners wanting to buy their own premises or for investors looking to invest in commercial property. However, commercial property loans have a unique set of rules.
The difference between commercial loans and residential loans:
The difference in bank policy, rates and structures of commercial property loans mean you should carefully consider your options before signing on the dotted line. Here are some of the common differences you can expect with a commercial loan:
- No lender’s mortgage insurance (LMI)
- Higher rates and fees
- Loan-to-value ratios are lower. This affects the amount you’ll be able to borrow – you’ll need a lot more money upfront for a deposit or additional security to offer compared to residential loans
- Shorter loan terms
- Commercial Interest Rates apply
The benefits of commercial property ownership
Even though commercial property is generally regarded as higher risk than residential property investment, there are quite a few benefits to commercial property ownership:
- Higher rental returns
- Smaller investment options
- Long term leases with tenant
- Tenants are responsible for rates and outgoings, unlike residential tenants.
How Westend Finance can help
There are so many commercial loan options available, the hard part is knowing which option is best for your circumstances and financial situation. Some of the available options are:
- Low-doc commercial loans
- Franchise loans
- Specialised commercial property loans
- Lease doc commercial loans
That’s why you need Westend Finance
It’s vital to have an experienced mortgage broker guide you through the complex process when buying a commercial property. Plus, I give you the best chance in securing your loan, because I know what lenders are looking for and how to best present your application so that giving you credit makes financial sense for them.