Commercial loans, building futures.
See howWe have originated more than $3.5b in new lending.
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Choose an award-winning broker that works with a range of lenders.
We'll dig deep, analyse your needs, and figure out your financial goals. From there, we can compare lenders and products until we find your perfect fit.
Don't sweat it, we take care of everything. From paperwork to comms, we got you. Bank jargon is meant to be confusing, we keep it simple.
Don't get lost in endless bank queues, you're our priority.
Unlike most other brokers, we stick, even after settlement. (Most don't!)
We're use our expertise and experience to help you achieve your financial goals now, and in the future.
You can choose your broker via the website booking tool, and lock in a time that suits you.
Broker to then complete their due diligence which will take up to 1 week to do (unless urgent), as they need to complete all their upfront checks to ensure a smooth process.
Meet with your broker to run through their recommendations and decide on the most suitable lending arrangement to meet your needs.
Your "Loan Processing Manager" is assigned to take your application through to Formal Approval
Once your loan is approved, your settlements manager will guide your application to the finish line
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Now that you are part of the MyMF family, we will support you with your loans and your financial goals until the end.
You'll be contacted within 24 hours (business days)
You'll receive our Credit Guide & MyMF Welcome Pack
You'll be given an opportunity to choose a time to speak with your broker
As banks policy and appetite is constantly changing, working with a broker who understands the market conditions and funders ability to lend, it will save you time and money and obtain the most competitive offer based on your needs.
Unless a developer has enough pre-sales to cover at least 80% of the debt required, then borrowers do need to consider non-banks who are more flexible with pre-sales and level of borrowing based on the current and gross realisation of the development.
If your borrowing below $2M you need a 20% deposit and if above $2M then you need at least 30% deposit.
Some lenders offer indicative approvals but most cases we are able to speak to a specialised lender in the field and they provide an indicative offer via email to provide comfort to the borrower finance is likely to be achieved (as it doesnt go through a full application assessment like a home loan upfront).
Yes you generally have options for fixed and variable but at the moment variable is cheaper.
You can borrow for commercial property or purpose for up to 30 years
Historically residential loans had a lower interest rate then commercial loan but in the current market conditions, commercial and residential rates are very similar and in some cases even lower with commercial lending.
The main difference is a residential loan is secured against a home/investment property whereas commercial loan is generally secured against a commercially zoned property or business purpose.
