loan agaist a commercial property

Share your concerns & ideas about commercial property loans in Australia.
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cozy
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Joined: Wed May 26, 2010 3:07 pm

loan agaist a commercial property

Post by cozy »

Does any one no if you can use a commercial property as security for a home loan. If so who would I taked to as having trouble with banks.
This property has a house on it which was the primary residants for 6 years.

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Otto Dargan
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Re: loan agaist a commercial property

Post by Otto Dargan »

Hi Cozy,

This is a tough area, most banks can't help with a commercial property as security for a residential loan except for in exceptional circumstances. We have a lender that can use a residential property as prime security and a commercial property as secondary security however not a commercial property on its own.

Tell me more about your property, is it zoned commercial but actually just a normal house?
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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