Loans for a Business Front & Residential Back?

Greetings property enthusiasts, would love to pick some knowledge from some experienced brokers!

I'm currently looking to purchase a block that has a small business in the front and a residential block at the back. Both are on a single title with no real division in the middle. From the one or two brokers I've spoken to it seems like there is no way to treat this as a regular residential loan even though I have intentions to move into the property to live.

Just wondering if anyone knows of any way to still have this under a residential loan and if not what are some good going interest rates for business loans. Preferably would like an 80% LVR for a 20% dep.

Thank you for any assistance!

 

what sort of business? Will you be buying the business too?

 

Hi Terryw,

It's a cafe/eatery and yes I'll be looking to buy it also! Would a business specialised broker be any help in my situation do you think?

 

Commercial loan
Can still get decent rates (Variable and Fixed), 30 year loan term and yes with only a 20% deposit this can be done.

 

yep not resi

 

Thanks for your reply @Lindsay_W .

Would you know of any brokers that you’d recommend for commercial loans?

 

Lindsay is a broker.

 

Feel free to PM if you like