When your business is ready to expand, renovate, build or acquire property, Butterfield offers a number of choices to finance your endeavours.
Commercial Property Loans Summary
How much can I borrow?
Up to 65% of the lower of purchase price or value.
How long can I borrow for?
Commercial property attracts 15 year term.
Repayment options
Normally by regular monthly payments.
Security for loan
Legal charge over the property + suitable insurance assigned to the bank.
Interest rate
Variable, usually 2% above prime lending rate. Calculated on outstanding daily balance and charged monthly.
Arrangement fee
An arrangement fee of 1% of the loan, minimum $100 is charged.
Other costs
Bank & legal fees of about 2% of the loan. Government fees & duties of between 5% to 7.5% of loan amount/value of property.
Requirements
Requirements include financial statements + property valuation + purchase agreement.
Corporate and Business Loans Tel: (345) 949 7055Fax: (345) 949 7004Email: credit@ky.butterfieldgroup.com