Re: Any way to borrow more than 80% on a commercial loan?
Posted: Wed Jan 06, 2016 3:58 pm
Hello adele.
Welcome to the forums.
There are three ways you can borrow up to 100% on a commercial loan:
Cheers,
Otto
Welcome to the forums.
There are three ways you can borrow up to 100% on a commercial loan:
- Using equity in existing property - You can borrow up to 80% of the value of a residential property or 70% of the value of a commercial property in equity to finance your purchase. Please note that specialised commercial properties such as farmland will be limited to 50% to 60% of the property value in equity.
- Taking the help of a guarantor - By taking the help of your parents, a friend or a business partner as a guarantor for your mortgage, you can borrow up to 100% in a commercial property loan.
- Balance sheet lend - Some lenders can do a balance sheet lend, which is basically lending against the value in your business. Here, lenders take assets such as trail books, equipment and vehicles as security against the loan but generally won't lend against their full value.
Cheers,
Otto