Are you buying or investing in commercial property? Which bank offer the best package?
There are lesser banks active in the commercial property mortgage business. Which means that, you have lesser choice.
In reality, you may have lesser choice than you think.
It is depending on the commercial property type and location.
Office unit and retail shop, freehold, are always welcomed by banks. Especially those projects located within CBD area.
In these two years, Industrial property, B1 and B2 type, 30 or 60 years property tenure, lesser banks keen to offer mortgage to the borrower.
Banks also want to choose better quality asset and dilute their concentration risk on less quality asset in offering loan.
Well, how to define quality here? The quality of property is always the location, property tenure & usage of the property.
You may receive some bank advertisement before, promotion on commercial property. Don't be get excited too early. Some of the promotion is not applicable for industrial B1 and B2.
Furthermore, the way you held the property also a key factor to bank. Normally, there are major three type of commercial property owners, individual, operating company and investment holding.
Some banks only accept operating company, and some banks only offer to individual; some banks charge higher "facility fee" toward investment holding company.
In conclusion, the comparison of commercial property mortgage is not straightforward. I always have more factfind about your need in commercial property mortgage matter before I provide you the right recommendation.
Any enquiry about commercial property mortgage? Please feel free to reach me at my website: www.mx-rich.com. All your info and documents will be handled with absolute P&C.
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