Will you lend for Commercial property too?

Discussion in 'Loans & Mortgage Brokers' started by Darlinghurst Boy, 9th Aug, 2015.

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  1. Darlinghurst Boy

    Darlinghurst Boy Well-Known Member

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    Darlinghurst Sydney
    just wondering if I can go to a Broker to buy say a Shop building?
    Or are Brokers only for Residential?

    Is it still 20% deposit or a higher deposit ?
     
    Darlinghurst Boy, 9th Aug, 2015
    #1
  2. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Will you lend? No, but I would borrow!
     
    Terry_w, 9th Aug, 2015
    #2
    Beelzebub and ellejay like this.
  3. Terry_w

    Terry_w Lawyer, Tax Adviser and Mortgage broker in Sydney Business Member

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    Yes brokers do commercial as well - some specialise.
     
    Terry_w, 9th Aug, 2015
    #3
  4. Azazel

    Azazel Well-Known Member

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    Lending for commercial property is different, and you would generally need a bigger deposit (30% or more).
     
    Azazel, 9th Aug, 2015
    #4
  5. Corey Batt

    Corey Batt Well-Known Member

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    Depends on the broker, but many do Commercial lending - personally a favourite of mine considering it has a lot more flexibility and variance between lenders compared to residential lending.

    Generally commercial LVR's are lower than 80%.
     
    Corey Batt, 9th Aug, 2015
    #5