Austral Mortgage Commercial Loans
Austral has access to an extensive range of commercial loan products available for individuals, partnerships, companies and discretionary trusts. In the event that the mortgagor is a company or trust, the principals and adult beneficiaries are asked to provide personal guarantees as part of the mortgage documentation.
What about interest rates and repayments?
Loans may be for interest only or principal and interest with a maximum term of 20 years.
How quickly can a loan be approved?
Approval is usually granted within 48 hours if all appropriate information is provided.
- LOAN AMOUNTS - min $50,000, no set maximum
- LOAN TO VALUE RATIO - maximum 80%
- REDRAW - Funds can be accessed via Internet and telephone banking
- SECURITY - registered first mortgage over commercial property
- REPAYMENTS - Option of weekly, fortnightly or monthly repayment frequency with payments automatically debited from the nominated bank account
- SPLIT LOANS - A combination of additional accounts (variable & fixed rates) also available
- PORTABILITY - Loan can be transferred to another property (subject to funder approval)
ACCEPTABLE SECURITY PROPERTY TYPES
- Vacant Industrial Land
- Office suites (min 40 sqm)
- Retail shops (shops, restaurants …)
- Medical suites
- Childcare centres
LO DOC OPTION
A Commercial Lo Doc Loan designed for applicants who are unable to provide documentary evidence of income.
We make it easy by not asking for verification of your taxable income. You are required however, to complete a Declaration of Financial Position, confirming that the repayments will not adversely impact on your capacity.
ABN registered for a minimum of 2 years must be on the declaration (self employed applicants only).