Purchasing a commercial property is a great way to build a business portfolio and start generating income right away. Commercial properties could be a new venture that you will build from the ground up, or they could be a pre-existing business that you are taking over.
Commercial property is a broad term and can be described in many ways. It can be:
- A business property
- An industrial property
- A specialist property such as a school, petrol station or caravan park
- A development property
- A multi-unit residential property such as an apartment building or unit
- An investment property
- A vineyard
- Any property revenue-producing property or venture
Commercial property loans can be complex. Having a mortgage broker in your corner who can walk you through every step will increase your chances of a successful application. Understanding what to expect, including what you can afford, the associated costs and all of the potential risks is essential to the process so that there are no surprises along the way.
Risk assessment
Your Can Finance Group mortgage broker will prepare you for all aspects of your commercial property loan and walk you through all of the risk factors involved. Risk factor is one of the ways a lender assesses your loan eligibility. Having all of the relevant information before you begin the process will help you get the loan you need and save you time. When buying commercial property, there are many types of commercial loan and many types of lenders to consider. Connecting you with the right one for your needs and circumstances is the key to success in your commercial property venture. Call to set up an appointment with a Can Finance Group mortgage broker today.
