Hi everyone,
I'm an Industrial and Commercial Property Sales and Leasing Consultant in Western Sydney and have seen a considerable number of sales fall over in 2012 due to the inability to obtain finance. Banks are wanting low LVR, instructing valuers to value property significantly lower than their actual market value, wanting ridiculous existing lease terms on the property etc etc which makes it very difficult for investors and owner occupiers alike who are looking to purchase.
I'd love to hear what experiences people from this forum have had obtaining finance for commercial & industrial properties and if you found any particular bank more reasonable than others?
I have heard from a couple sources that the Bank of Queensland has helped them out where various other banks have turned their back on them - I'm not sure if this is applicable across the board or if this was simply due to their individual circumstances.
Thanks
Jonno
I'm an Industrial and Commercial Property Sales and Leasing Consultant in Western Sydney and have seen a considerable number of sales fall over in 2012 due to the inability to obtain finance. Banks are wanting low LVR, instructing valuers to value property significantly lower than their actual market value, wanting ridiculous existing lease terms on the property etc etc which makes it very difficult for investors and owner occupiers alike who are looking to purchase.
I'd love to hear what experiences people from this forum have had obtaining finance for commercial & industrial properties and if you found any particular bank more reasonable than others?
I have heard from a couple sources that the Bank of Queensland has helped them out where various other banks have turned their back on them - I'm not sure if this is applicable across the board or if this was simply due to their individual circumstances.
Thanks
Jonno