‘AAA’ Mortgages can assist you to source specialised funding. For example, a building that has been specifically built for a childcare centre, a medical centre, hotel, motel, etc.
These are classified as specialised.
However there are some specialised buildings such as restaurants where a funder could ask the valuer for an “alternative use” valuation for that property. An “alternative use” valuation means that the property could be converted to say offices and in these cases a specialised building can be financed in the same way as a commercial office or commercial factory.
Specialised securities also include backpacker accommodation, petrol stations, resort style accommodation and wedding reception venues.
Funding for specialised properties predominantly hotels and motels can be financed to 65% of the real estate value or around 65% of the combined real estate value, business component and any liquor and/or poker licenses .
For the specific risk margin on your loan product don’t hesitate to contact us for a quote.