Commercial loans...
Our commercial loans are one of our most sought-after products. Our many years of operation have given us a deep understanding of what Tasmanian businesses and organisations need to succeed.
At MCMF, we're proud to be part of our clients' journeys and help facilitate the growth of Tasmania's economy through our lending services.
One of these projects is the development of Saint Lofts. Find out more about their story below.
The essential details
Security
Our loans are secured by first mortgage, where the maximum we will lend on a property is:
- Up to 66.6% of the value of residential, rural residential, and commercial property
- Up to 60% of the value of rural property
- Up to 50% of the value of hotels and specialised security
Establishment fees
We charge 0.40% of the loan amount as an establishment fee, with a minimum fee of $1,000. If our committee determines that a loan is highly complex, we may charge a higher establishment fee.
All establishment fees are GST inclusive.
Ongoing fees
We do not charge any recurring service or account fees.
We do charge an early repayment fee as follows:
- If the loan is refinanced within the first 6 months, borrowers pay a fee equal to 2% of the loan amount
- If the loan is refinanced with the first 6-12 months, borrowers pay a fee equal to 1% of the loan amount
Valuation fees are paid by the client.
Loan approval
The Murdoch Clarke Mortgage Fund Management Committee makes all loan application decisions based on established lending criteria.
I’m ready to apply for my MCMF loan
Make sure that you’re fully informed by reading the following:
TMD: Commercial loans | MCMF Credit Guide
Once you’ve read our TMD and Credit Guide – these links will provide the majority of information that you need for your application and should additional information be required during the process we will contact you.
