balmain + commercial + big deals +
Is your existing lender 'uncommercial'?
May 2010
| purpose | To refinance a commercial property |
| loan limit | $2,875,000 |
| lvr | 62% |
| loan term | 60 months |
| borrower type | Owner Occupier/ Investor |
| facility type | Commercial Investment |
| interest rate | 6.85% |
The Benefits
The owner of a commercial property on Brisbane's bayside had their finance facility due for expiry early this year. The client is an experienced property investor, who on this particular security property, occupies approximately 50% of the property with the remaining space being leased to several tenancies on various termed leases.
The existing Mortgagee offered a rollover of the facility on new terms & conditions which were 'uncommercial' to the client. A higher margin, shorter term and principal reductions were all requirements of the new facility. Balmain Commercial then successfully negotiated an approval through an alternative lender that provided far better commercial terms & conditions that met the borrower's requirements, as well as providing a seamless process in managing the refinance.
balmain + commercial + big deals +
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