Low doc commercial property loans can be taken out to purchase shops, factories or offices. You require a 20% deposit as the lender will provide a maximum of 80%. Interest rates are normally 1% higher than residential rates. Application fees apply usually around 0.5% of the borrowed amount.
All commercial properties will require a property valuation which. Costs for commercial property valuations range from $2000 to $4000, depending on the type of building and the value.
Commercial property loans can be made in the name of the individual or a company, trust or partnership.