Commercial Loans

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Applying for a Commercial Loan

Buying a commercial or business premises usually requires a commercial loan facility. These facilities differ from home loans in many ways as does the process of application and the documentation required. Most commercial loans are limited to 20 years.

There are many lenders offering commercial facilities, so it’s a good idea to engage a broker to ensure that you get a competitive deal.

Security

Banks assess the risk of using different types of business and commercial premises as security, so dependent on what type of property you are purchasing will factor in the amount that the lender allow you to borrow based on that security.

Generally, lenders will allow you to borrow around 70% loan to value of the property (LVR). They may allow you to borrow more if you are willing to use other property or assets as security.

 

Loan Applications

Depending on what you will be using the property for, will determine what type of information a lender will require.

If you are purchasing to use for our own business, then the lender will want to assess how your business has performed over the last couple of years and a business plan going forward.

If you are just investing then the process can be a little easier, the lender will want to see that the premises is rentable or already has a tenant in place.

If you want to find out your options for purchasing a commercial property get in touch.

Get In Touch

We will be there to guide you through the whole process of Commercial Loans.

Get in touch now to book an appointment with Fox Mortgages.

Teri Hayes
Teri Hayes
2024-02-04
Had our free appointment with Paul. He was great to deal with and super honest. We came away with a strong understanding of where we are at financially and where to next. Couldn't have been happier with the consultation. We felt Paul was very knowledgeable, not at all pushy and definitely encouraged us to go for the best deal for us regardless of any benefit to himself. All on a Saturday to fit in with our work commitments. Would highly recommend.
Melissa Bishop
Melissa Bishop
2024-01-27
Highly recommend . We were recommended Fox Mortgage Services through a friend. We are so happy with their services. They were professional and patient with us as we refinanced our home. They kept us informed at every stage of the process and made it easy and simple for us. Would highly recommend Paul and his team.
Tepora Puha
Tepora Puha
2024-01-11
Such an amazing team. I personally have dealt with Naomi and she is amazing. Communication is 2nd to none and then get from Paul, they appreciate and treat everyone well. Thanks you Team Fox. I highy recommend Fox Mortgages and happily let my friends know.
Jon Brown
Jon Brown
2023-12-18
I must admit that, despite being on my 4th house, I have never been to see a mortgage advisor. - Usually googled rates (or checked out finance websites) and done it myself. Having seen Paul at Fox Mortgages, I'm kicking myself that I have not gone to see a mortgage advisor before in my life as I'm sure I would have saved myselves thousands of dollars! Paul's wealth of knowledge of the market and all the products out there meant that he could find a lender that was willing to lend to us in our reasonably difficult position (2nd year in business), and also come up with a great rate. Paul and Naomi were great in keeping us updated with the progress of our loan, even in these uncertain COVID times and answered our plethora of 'first timer' questions. I definitely recommend that you go see Paul and see if he can help - even if you are on something like Keystart, he might be able to give you some advise to help you progress your finances quicker.
Ben McElwain
Ben McElwain
2023-12-16
Exceptional service. My experience dealing with Paul Fox Mortgages and his team, namely Naomi has been extremely punctual, proffer and very friendly. They have answered all my questions, handled the mortgage paperwork and kept me informed along the way. I cant recommend Paul Fox Mortgages more highly.
L Robbo
L Robbo
2023-12-14
We got our home! . Firstly I can’t recommend Naomi at Fox mortgages enough, she has been brilliant in helping us. Communication/knowledge and professionalism was shown throughout our first home buying experience and it all ran so smoothly from start to finish. I would highly recommend the Team at Fox Mortgage’s to help you secure your family home!
Anita Langton
Anita Langton
2023-12-13
Exceptional Service and Expertise . I recently had the pleasure of working with Paul from Fox Mortgages, and I couldn’t be more delighted with the experience. From the beginning, he provided invaluable advice that was both insightful and tailored to my specific needs. His customer-focused approach was evident throughout the entire process, making me feel like a priority. Paul and his company have truly mastered the art of efficiency when it comes to paperwork. The entire documentation process was not only easy but surprisingly swift. Their streamlined procedures ensured that I could navigate through the paperwork hassle-free, which was a breath of fresh air compared to my previous experiences. In summary, if you’re in search of a mortgage broker who combines exceptional advice, customer-centricity, and an efficient paperwork process, look no further than Paul and the Fox Mortgages team. I highly recommend his services and am grateful for the positive impact he had on my home refinancing journey. A true 5/5 star experience!
Sue Williams
Sue Williams
2023-12-13
Paul was fantastic
Erica Millward
Erica Millward
2023-12-07
The team at Fox mortgages were amazing! Made the process of getting our home loan so much easier. Took away most of the hassle & stress, couldn’t recommend them enough!
Rhyce Murphy
Rhyce Murphy
2023-11-29
Paul and Naomi, have once again done a fantastic job for us. They always go above and beyond to ensure everything is completed to a high standard. Thanks again guys