Commercial Mortgage Brokers are typically used to arrange Commercial Property Finance to fund business premises. This will include Retail, Offices, Industrial, Motels, Hotels, Rest Homes and Childcare Centres. These premises may also be owner occupied or leased and include a “freehold going concern” component as part of the valuation.
In addition property development finance can be arranged for residential and commercial projects, once again owner occupied, investment or land developments.
Our panel of commercial property lenders are based here in New Zealand and that allows for quick lending decisions.
Interest rates can be almost as competitive as the Banks with the finance tailored to meet project specific needs.
Loan are typically interest only with a term of up to 3 years and amounts from $.5M to $5.0M. Funds can be available on settlement or on a progressive draw down basis against completion.
The majority of loans require first mortgage security and this can be on a stand alone basis, allowing you to maintain relationships with other lenders for your residential home, or other property assets. In these cases lending will be to a maximum of 70% of a current Registered Valuation through an approved valuer. In addition supporting personal guarantees, specific and / or general security agreements may be required. In some instances we asisst with commercial second mortgages however these will need to be well secured.
If a higher loan to valuation ratio is necessary the provision of additional collateral security will need to be considered.
We are receiving a number of refinance enquiries, as some lenders are looking to limit their exposure to commercial property, as an example we were recently asked to refinance a multi million dollar facility through a Bank as the client's request for additional funds to cover an office fit out for new tenants had been declined. If your Bank is not making it easy for you to start or complete projects, or saying that "perhaps it is time for you to look at refinancing", contact us to discuss the options that may be available.
The scope of a non bank commercial mortgage broker is vast and may include taking advice from Solicitors, Accountants, Registered Valuers, Quantity Surveyors and other Professionals as required. We are aware that some lenders have a strong preference on who they use for their due diligence, so if you require any advice on this to avoid duplicated costs, just contact us first.
Our Panel of Commercial Property Finance Lenders are all extremely experienced, each with their own field of expertise and they will form a key part of the team to help make your venture a success.
We will respond quickly to your commercial enquiries and can generally provide advice 7 days a week.
Complete our on line enquiry form for non bank comercial property finance now as you can't always bank on you Bank!