Low Doc Commercial Loans

Want to buy, build or refinance Commercial property?
Looking for an alternative to the Banks?

Ask Now! or Call 1300 736 976

Low Doc Commercial Loans

We can use rent as a sole means of servicing the Loan (a Lease Doc)

We can use BAS Returns, Bank Statements or Accountants Letters to substantiate your income (a Low Doc)

We can deal with credit issues that would normally disqualify you from applying with a Bank (Credit Impaired)

We can help with Development Finance - Residential or Commercial (Development Finance)

Low Doc Commercial Loans include Low Doc loans, Lease Doc Loans, Credit Impaired and Developer Commercial Loans (Developer Finance). These options are .........

Lease Doc Commercial

If you want to buy or refinance Commercial property and there is a current Lease in place, then talk to us about a Lease Doc Commercial Loan.These loans are very simple to establish and rates can be extremely competitive compared to a fully documented loan with the Banks.

Qualify

There are general guidelines in place to qualify for a Lease Doc Commercial Loan. These include:

  • The amount you want to borrow as a percentage of the property value (the Loan to Value Ratio or LVR) is generally limited to 60% to 65%.
  • The Security property needs to belocated in a Capital City or Major Regional Town.
  • The Security property cannot be "single industry use" (eg: A Child Care Centre or a Garage with Pits).
  • Construction / Development not allowed.
  • For the best rates, current Lease/s must have 2 years left to run plus a renewable Option (usually a minimum 3 years).
  • Clean Credit normally required.

Advantages

  • NO Tax Returns or ANY other income proof required except for the current Lease/s.
  • Terms up to 20 years possible.
  • P&I or Interest Only repayments allowed (usually a max 5 years).
  • VERY SIMPLE Application process.

Low Doc Commercial

If you want to buy or refinance Commercial property and your Tax Returns are not up to date or don't tell the whole story, then talk to us about a Low Doc Commercial Loan. These Loans operate the same way as a normal Commercial Loan but your income is substantiated by alternative documentation.

Qualify

There are general guidelines in place to qualify for a Low Doc Commercial Loan. These include:

  • Documentation:
    • BAS Returns and/or
    • Rental Statements and/or
    • Bank Trading Statements for a specified period (Lender Dependent) and/or
    • An Accountants Letter confirming your income
  • The amount you want to borrow as a percentage of the property value (the Loan to Value Ratio or LVR) is generally limited to 70% to 75% (Lender Dependent).
  • The Security property needs to belocated in a Capital City or Major Regional Town (call to check if not, exceptions are sometime possible at a reduced LVR).
  • The Security property cannot be "single industry use" (eg: A Child Care Centre or a Garage with Pits).
  • Construction / Development not allowed.
  • Clean Credit normally required.
  • Generally no Vacant Land.

Advantages

  • NO Tax Returns required.Flexible options to confirm your income via alternative documentation.
  • You can get a loan for a property that your business "Owner occupies".
  • Loans with no annual/periodic Reviews or regular revaluations possible.
  • Terms up to 30 years possible.
  • P&I or Interest Only repayments allowed (usually a max 5 years).
  • RELATIVELY SIMPLE Application process.
 

Credit Impaired Commercial

If you want to buy or refinance Commercial property and you have Credit problems or your current loan repayment history is not perfect, then you may still have options available to you.You can apply on a Low Doc basis (ie: where your Tax Returns are not up to date or don't tell the whole story) or on a Fully Documented loan basis (ie: with Tax Returns).

Qualify

There are general guidelines in place to qualify for a Credit Impaired Commercial Loan. These include:

  • The amount you want to borrow as a percentage of the property value (the Loan to Value Ratio or LVR) is generally limited to 70% to 75% (Lender Dependent).
  • The Security property needs to belocated in a Capital City or Major Regional Town (call to check if not, exceptions are sometime possible at a reduced LVR).
  • The Security property cannot be "single industry use" (eg: A Child Care Centre or a Garage with Pits).
  • Construction / Development not allowed.
  • Generally no Vacant Land.

Advantages

  • We may be able to help when the Bank has said NO.
  • Tax Returns not necessarily required.Flexible options to confirm your income via alternative documentation.
  • You can get a loan for a property that your business "Owner occupies".
  • Loans with no annual/periodic Reviews or regular revaluations possible.
  • Terms up to 30 years possible.
  • P&I or Interest Only repayments allowed (usually a max 5 years).
  • RELATIVELY SIMPLE Application process.

Examples

Some examples of where we may be able to help include:

  • Applicants with PAID Defaults of less than $1,000 and/or
  • Applicants with PAID or UNPAID Defaults registered more than 2 years ago and/or
  • Applicants with up to 5 PAID or Unpaid Defaults and/or
  • Once-Off explainable life events that led to credit critical event and/or
  • Mortgage arrears (case by case)
Once we understand your particular credit issues, we can then tailor a solution to suit your needs.

Development Commercial

If you are looking to build a residential or commercial development and you have a clear exit strategy, but the Banks have said NO (or time is of the essence), then we may be able to assist.Each Project is assessed on its own merits (both in terms of the type and location of the Development and the track record of the Applicants).

Qualify

  • Commercial, Industrial, Residential or mixed Projects possible
  • 70% of gross realisable value or 80% of "hard costs", whichever is the lesser (Project dependent)
  • Shorter loan terms to match expected Project life plus safety
  • Exit Strategy critical (Refinance or sale on completion)
  • Pre-sales not always required (usually ALWAYS required by the Banks)
  • Prior Development experience in similarly sized Developments is a major benefit
  • Credit issues considered - it is the viability of the Project that is the Driver
  • Loans are unregulated, so there is less emphasis on the financial strength of the Applicants
  • Large loan amounts possible
  • Land sub-divisions possible

Examples

Some examples of Projects that have been approved:

  • $18 million Residential Development, 65% LVR, no pre-sales
  • $4 million Unit Development, 70% LVR, no pre-sales
  • $3 million Land Bank, 65% LVR
  • $2.5 million Land Bank, 70% LVR
  • $1.3 millionRegional Land Subdivision, 60% LVR, no pre-sales
  • $1.6 million Commercial settled in 8 days, 65% LVR

Need help understanding your loan options?Please call us on 1300 736 976 or send an enquiry now.