Mortgage House Chameleon - Pure Commercial Low Doc 50

Commercial property

Variable-rate low documentation commercial loan for owner-occupied commercial property with lending up to 50% LVR.

Monthly repayment

$250,000 over 5 years

What it would cost

At the lowest published rate of 8.44%. The rate you are offered depends on your business, and the establishment fee is not included.

BorrowOver

Against the other business loans we compare. Typical means the middle half of them.

Comparison rate

8.97%

From 8.97%. A typical loan starts at 8.28%.

Most you can borrow

$2,000,000

Typically you can borrow up to $4,000,000.

Longest term

30 years

30 years is the usual longest term.

One rate for everyone. Everyone approved gets 8.44%, so the rate you see is the rate you get.
Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
Redraw. You can take back extra repayments later if you need the money.
No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

A higher starting rate. Its comparison rate starts at 8.97%, above the typical 8.28%, so it's likely to cost more than most similar loans unless you're offered less.
A lower limit. Up to $2,000,000, less than the typical $4,000,000, so it may not cover a larger purchase.
A variable rate. Your repayments can rise if the lender lifts its rate, though they can also fall.

Business loans of the same kind from other lenders that start at a similar interest rate.