Commercial loan refinance – max LVR 60%

Meet Lakona: he is 39 years of age and has invested in commercial property early. Lakona has a commercial property in the Melbourne Metro area, and has it leased out to a storage company on a 5 x 5 x 5 year lease. The lease is in its second year, on its second term.

Lakona emailed InShape Home Loans and wanted to know if we could refinance his commercial property, as his term with his current lender was almost up and due to a change in his circumstances he could not provide tax returns or bas statements.

We asked Lakona for an estimate value of the property and a copy of the lease. From this, we could help Lakona with a commercial lease loan. With a commercial lease loan, the loan could only be 60% of the valuation price and the lease had to service the debt – which in this case the lease complied with all the policies of the lender.

Lakona was delighted, as he thought he would have to obtain a low doc or no doc commercial loan at high rates. Fortunately, we could help Lakona with a low rate lease commercial loan.

Another happy InShape Home Loans client.

Important information:

The information does not take into account your personal objectives, financial situation or needs and so you should consider its appropriateness having regard to these factors before acting on it. The tax or financial planning positions, if described are general statements and is for guidance only. It has not been prepared by a registered tax or financial planning agent/agents. It does not constitute tax or planning advice and is based on current  laws and our interpretation. Your individual situation may differ and you should seek independent professional tax or planning advice.