Commercial property loans are certainly one of the most common and popular forms of commercial loans. Any specific property, whether commercial or residential, can be described as commercial property.
What is a Commercial Property?
Officially, commercial property refers to any form of real estate property that is used for business purposes or activities. Commercial property usually refers to buildings that house businesses, but can also refer to land intended to generate a profit, including larger residential rental properties.
With the 2019 property market in Melbourne being somewhat depressed, and the outlook for 2020 not being much better, has resulted in finance and access to capital becoming quite cheap.
For the savvy property investor, this is the perfect time to strike.
Multi Unit Purchases
It’s important to know that if you’re planning on purchasing a property of 4 units or less, its generally regarded as a residential property. Yet a property of 5 units or more is regarded as a commercial property. In simple terms a multi-family project is considered being commercial property loans, however, not all commercial property loans are multi-family loans. Commercial property loans can be acquired at various adjustable interest rates when compared with residential loans.
Mixed Use Properties
If a property includes a single apartment unit over the storefront then this kind of property is actually a mixed use property. A mixed use property is a commercial property and also you would need to go to a commercial property provider to have a commercial property loan on such a property. If you’re looking for a commercial loan company Commercial Loans Melbourne can help you with both home loans and commercial property loans that will best suits your requirements.
About Commercial Loans Melbourne
Commercial Loans Melbourne is a top vendor of property loans in Australia. We’re quick and efficient at what we do, allowing you to get fast and easy access to commercial property loans. Simply complete our loan pre-application form, indicate the type of loan you require and we’ll get in touch with you within 24 hours to have an obligation-free chat about your possibilities.