Recent content by kili

New idea, haven't checked it out yet, but... income protection insurance. They extend policies to cover rent default, just need to ensure they also cover commercial (somehow doubt it, but worth a try).

Plus you'll most likely have a higher interest rate. One of my full-doc comm loans is still sitting at 9.59% variable! :eek: I called the bank and they said it will most likely come down soon, but that's little comfort, especially since I can't see them dropping it 3% to catch up to resi.

Commercial typically (not always) works on a base rate plus a margin. The margin is reflective of the risk borne by the bank. It relates to you as a creditor, the property as risky asset and the market as an unpredictable mess. This is why it's harder to find accurate quotes.

I tried to get this CGU Padlock insurance, but it was a fruitless. CGU say only their brokers do it and of course their brokers don't know anything about it. They say it Padlock exists, but are not well-versed on the "landlord insurance" part of it. What the broker recommended was trade...