Hi,
As you know from my other thread, have just bought a CIP.
I've noticed that the commercial lending market is not very transparent, and lending is very much more on a case by case basis (property and credit metric dependant).
Having said that, I'd be keen to hear what sort of interest rates people are paying for commercial loans secured against CIPs?
Mine is variable at 8.24% with Adelaide Bank (25 year term, 3 year IO, and no reviews) at 75% LVR.
Whilst I love the 25 year term (very safe for my first CIP) and the high LVR I'm the first to admit thats a very very high interest rate.
I've seen at least one lender (ING) who can do 6.25% though no higher than 60% LVR in my area.
So who is paying what rates? With which banks, and for what sort of lending, LVR's, credit metrics?
Who have you been impressed with, and who has disappointed?
Thanks!!
As you know from my other thread, have just bought a CIP.
I've noticed that the commercial lending market is not very transparent, and lending is very much more on a case by case basis (property and credit metric dependant).
Having said that, I'd be keen to hear what sort of interest rates people are paying for commercial loans secured against CIPs?
Mine is variable at 8.24% with Adelaide Bank (25 year term, 3 year IO, and no reviews) at 75% LVR.
Whilst I love the 25 year term (very safe for my first CIP) and the high LVR I'm the first to admit thats a very very high interest rate.
I've seen at least one lender (ING) who can do 6.25% though no higher than 60% LVR in my area.
So who is paying what rates? With which banks, and for what sort of lending, LVR's, credit metrics?
Who have you been impressed with, and who has disappointed?
Thanks!!