Liberty Financial cuts commercial loan rates by 100 basis points

Non-bank lender Liberty Financial has cut interest rates on its commercial lending products by up to 100 basis points.

The Melbourne-based lender is offering the lower rates for new customers with its flagship Enterprise full-doc commercial mortgage product starting at 6.8%, reports Australian Broker online.

The product is available for loan amounts from $150,000 to $10 million and aimed at owner-occupiers, small businesses or investors seeking to finance commercial property purchases.

It required a minimum 20% deposit with a 30 year loan term for owner-occupiers and 15 year loan term for investors.

A 6.8% starting rate also applies to its LeaseStream loan for commercial property investors also covering loans from $150,000 to $10 million with a maximum 15 year loan term.

GM of commercial finance, Suresh Pillai, said reductions of 100 basis points had also been made on its low-doc rates now start from 7.40% per annum.