Property Finance

If you are purchasing a residential or commercial property and can’t pay for it with cash, property finance can help. Getting a property loan from a bank/lender allows you to borrow the money required to pay for the property. You then make repayments to the lender, plus interest, to pay off the loan over a certain period. How much you can borrow is dependent on the lender and your circumstances. To find out more, speak to a Ledge Finance Executive.

The amount you can borrow and the terms of the property finance loan will vary depending on the lender and the individual circumstances of the borrower. In general, however, loans are available for up to 80% of the property’s value for residential and 70% for commercial. There can be situations where banks will lend higher than these ratios and can even fund 100% of the property value. Repayment periods can range from 5 to 30 years and provide an interest-only period. Contact Ledge for more information on your particular circumstances.

The best finance option to buy a property depends on your circumstances and the amount you can borrow. You should speak to one of our Ledge Finance Executives, who will be able to guide you on the best options available to you.

The amount of deposit you will need for property finance will depend on the type of property and value and the loan structure and terms. Generally, you will need a minimum deposit of 20%for residential and 30% for commercial properties.

It is also worth noting that many lenders may charge higher interest rates for loans with a loan-to-value ratio of more than 80%. So, if you can only put down a smaller deposit, you may end up paying more in interest over the life of the loan.

Repayments on a property loan will depend on the amount of the loan, the interest rate, and the term of the loan. In general, you will need to make repayments monthly on a principle and interest basis; however, there is often an interest-only period available if this is preferred

However, some lenders may offer different repayment options, such as weekly or fortnightly repayments. You should speak to your lender about the different repayment options available and compare them to see which would suit you best.

Commercial property loans typically require a deposit of at least 30% of the purchase price. However, some lenders may require a higher deposit depending on the type of property and the loan amount. In certain circumstances and with the appropriate loan structure, some banks can provide 100% funding for commercial properties. For more information, contact us today.

The interest rate on a commercial property loan is usually higher than on a residential mortgage as commercial properties are considered higher risk by lenders. However, interest rates will vary depending on the lender, the loan amount and the term of the loan. Therefore, you should compare interest rates from several lenders before deciding which one to use.

A commercial mortgage broker can help you secure the best loan possible. They have relationships with a number of different lenders and can help you find the one that is the best fit for your needs. They will also work with you to get the best terms possible. Get in touch with a Ledge Finance Executive to learn more about how we can help you secure a commercial property loan.

You may be charged a number of fees from banks, solicitors, settlement agents and valuers when taking out a property loan. These include application fees, valuation fees, and settlement costs. Your Ledge Finance Executive will ensure you are aware of any fees that may apply to your loan.

Yes, you can get a pre-approval for a commercial property loan which will give you an idea of how much money you can borrow and the repayment terms. However, it is important to remember that pre-approval is not a guarantee you will be approved for the loan.