Commercial Property Loan
Commercial properties are generally categorized into Retail, Offices, Conservation shop houses as well as HDB shop houses.
You can get a commercial property loan: -
- As an individual
- Or as a Company
For buying under company name, generally it will be under Private limited company. There are 2 distinctions: -
- Buying for business own use; or
- Buying under investment holding company
The companies will need to have financial statements and proof of profitability to qualify for a bank loan.
For buying under investment holding company, directors or majority shareholders will need to be assessed for Total Debt Servicing Ratio (TDSR)
. This is where it gets complicated as many business people tend to hold on to multiple properties. Hence the need for debt restructuring becomes important. iCompareLoan mortgage consultants can assist to assess your overall debt situation and devise ways to make suggestions for improvements.