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Is refinancing a commercial property beneficial?

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Is refinancing a commercial property beneficial?

Last updated: January 7 2020
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  • #11

    #11

    Re : Is refinancing a commercial property beneficial?

    Malvish Okay, so the overall payment for a shorter-term loan gets lower.

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    • #12

      #12

      Re : Is refinancing a commercial property beneficial?

      People servicing more than one loan on multiple commercial properties from different banks can benefit by consolidating their loans and getting them all financed by a single bank or NBFC at lower rates and more favourable conditions.
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      • #13

        #13

        Re : Is refinancing a commercial property beneficial?

        Refinancing multiple commercial loans from a single bank or NBFC allows the borrower to consolidate all the existing loans and focus on a single bank for repayment, making it much cheaper and easier than paying to multiple banks on higher lending rates and different repayment dates.
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        • #14

          #14

          Re : Is refinancing a commercial property beneficial?

          Borrowers of a commercial loan can free up equity and use it as working capital for other purposes by paying off an existing debt on a commercial property.
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          • #15

            #15

            Re : Is refinancing a commercial property beneficial?

            Also, floating interest rates can be a burden. So a new loan migh help.

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            • #16

              #16

              Re : Is refinancing a commercial property beneficial?

              Yes! Floating interest rates are very volatile and can increase the burden of EMIs considerably. Refinancing such a commercial loan with a fixed-rate loan can help control the volatility and help save money for other purposes or businesses.
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