LEASE DOC COMMERCIAL LOANS
View product matrix below then click on apply if you wish to qualify for this loan and receive a detailed assessment and full cost proposal.
Lease Doc Loans for Commercial Zoned Property.
|Lease Doc Commercial Loans are designed for investors with rental producing commercial properties. The Lease Doc product is where servicing is established by income from a quality third party lease servicing the debt without the necessity to provide financials or tax returns or confirmation of other assets or other liabilities.
The majority of lease doc borrowers fall into one of these categories:
Benefits of a Lease Doc Commercial Loan include:
What do Lenders look for in assessing a Lease Doc Commercial Loan?
# The interest cover ratio is the number of times that the lease income will cover the loan repayments. Most lenders require 1.1x to 1.5x interest cover ratio. Assessment may include a buffer of up to 2% above the interest rate and depending on what costs are met by tenants, the lease income maybe reduced by 20%.
|Loan purpose||Commercial Zoned Properties|
|Loan term||1 > 30 years.|
|Interest type||Variable rate.|
|Repayment type||Principal & interest, or interest-only up to 5 years then principal & interest.|
|Repayment options||Monthly, fortnightly or weekly.|
|Repayment method||Direct debit only.|
|Maximum Loan to||70% in high population areas (capital Cities and Major Regional Towns with populations over 10,000 people|
|Credit history||Past credit impairment can be considered at higher rates and fees|
|Minimum loan size||$150,000|
|Maximum loan sizes||$3,000,000|
|Acceptable Applicants||Individuals, Companies and Trusts|
|Annual Reviews||No Annual Reviews|
|Cash Out||Unlimted Cash out to maximum 70% LVR for all acceptable purposes including business purposes including payout ATO debts, workingcapital and purchasing business equipment.|
|Debt Consolidation||Unlimited to Maximum 70% LVR|
*Interest Rates: All rates are subject to change without notice. Please check all rates and terms before applying.
Low Doc loans are designed for the self-employed or small company borrower/s whose financial statements may not be available. Reasons for this may encompass: Their accountant hasn’t completed and lodged their financials.