ING Commercial remains a standout product – we give examples of why & give example below:
- Low Commitment fee – ($1,000 up to $1mil; 0.20% for deals $1mil – $3mil).
- Loans from $250,000 to $3,000,000.
- Set and Forget. No annual reviews on full doc loans where total exposure is under $2 million.
- Ability to order your valuation upfront, saving you time.
- 75% LVR in Capital Cities; 70% Outside Capital Cities (Interest Only or P&I).
- Service Stations and Child Care transaction against Freehold property with National Tenant up to 65%.
- No Credit Scoring or ATO Portals.
- Refinance and/or access to equity against residential security for business/commercial as Investment Home Loan in personal names.
Recent deal settled with ING:
Purchase Price $2,280,000, LVR – 75% = $1,710,000
Owner occupied with debt servicing from Trading Business. Borrowing in new Company and Trust and leased to a trading business. Guarantee from a Trading business but no GSA required.
Term 20 years with 3 years interest only. Rate 4.69% Variable with Nil ongoing, no annual reviews
Benefit, max LVR offered by own bank was 65%
ING was able to offer 75% LVR thus an extra $228,000 over own bank.