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.
loan agaist a commercial property
- Otto Dargan
- Mortgage Specialist
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Re: loan agaist a commercial property
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?
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?