Premium Commercial Loans Through LoanAustralia
| Interest
rate |
Margins negotiable from 1% over 3 years swap or 90 day bank bill swap
reference rate (bid) depending up on bill.
Lower margins will be negotiated depending on
size and quality of deal. |
| Establishment Fee |
0.25% of loan amount plus GST |
| Trail Commission |
0.25% paid monthly in arrears for the life of the loan (including of the margin) |
| Minimum/Maximum Loan |
$200,000 to $30,000,000 |
| Term |
1, 2, 3 or 5 years interest only |
| LVR Valuation |
70% of sworn valuation. LAC panel valuer to complete |
| Security |
Improved/Income producing properties or owner occupied. Preference is for commercial properties however some non UCCC residential may be considered.
(no development or construction finance available).
Specialised properties will also be considered (including going
concern) |
| Location |
All capital cities and towns where the population exceeds 20,000 people |
| Fees |
All legal and valuation costs to be borne by applicant |
| Serviceability |
Minimum interest cover of 1.25 X based on all sources generally on sensitised rate of 1% above facility rate |
| Documentation Required |
- Two years tax return for individuals
- Two years company accounts
- Baycorpadvantage credit report
- Signed statement of assets and liabilities
- Letter of good conduct or 12 months loan statement for refinance
- Copy of Certificate of Title
- Copy of leases (if applicable)
- Copy of Copy of Contract of Sale (if applicable)
- Any other information LoanAustralia may consider necessary
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