SMSF commercial loans?

Are there anyone out there that will do beyond 15 years terms P&I (seems to be the normal for ~15 years) and at around 70% LVR? Going to be rented out in the short term then further down the track, our own going concern will occupy it.

Looking at one of those office/warehouse combo (+1 need the office space and I want the warehouse).

Thanks in advance

 

Think Tank will do max 30 years and 75% LVR if repayments are P&I. Interest rate circa 6.95%.

Liberty will do 30 years as well and max LVR of 75% w rates starting at 5.55% and scale up depending on a couple of things.

My biggest concern though with what you have stated above is the short term rental. If the lease if under one year or expired then lenders won't take the income into consideration for servicing.

 

My short term is around 2-3 years, will Tank and Liberty take that into consideration for servicing?

 

Whats the lease agreement? Is it month to month or does it have a term remaining?

 

Current till December 2019 with at least one more option of 3 years.

 

Then you are fine.

 

Think Tank up at 7.35% for a 75% lvr P & I. 6.95% capped lvr at 70%.

Couple of new Private lenders who are still fairly sharp on the Com SMSF front.

Cheers

 

Hi Mini

You can look at La Trobe which has 25 years. Their rate is generally 6.99% but currently their site is showing up as 5.99%. Lenders like NAB and CBA will only lend for lease term or with CBA 75% of lease term.

Cheers Ivan

 

I assume when borrowing at 7.35% with a 75% LVR, the rather strict resi policies around servicability do not apply.

 

I would assume it all comes down to the lease and how strong is the business that is the tenant.