What commercial property loans cost in Australia
Published variable rates for commercial property loans run from 7.24% to 8.59% a year at the lenders we checked on 30 October 2026. On a $1.05m loan over 25 years that is about $7,583 to $8,519 a month. LVR, lease length, property type and documentation decide where you land in that range.
Two commercial property loans on the same building can differ by more than a percentage point, because lenders price the lease, the LVR, the type of property and how you prove your income. After the Reserve Bank rise to 4.60% on 30 September 2026, rate pages are moving. This guide sets out what ING, Liberty, La Trobe and Macquarie publish, what changes the rate, the fees and duty on top, and the cost of a $1.5m warehouse bought with a 30% deposit, once at a bank rate and once at a non-bank low doc rate.
What commercial property loans cost right now
The Reserve Bank lifted the cash rate 0.25 points to 4.60% from 30 September 2026, so any rate page undated or older than that is stale. The table shows what lender pages published on 30 October 2026. ING's rates were updated on 12 October and Liberty's are marked effective 30 October. La Trobe and Macquarie do not show a rate date beyond 2026 and October 2026. A "from" rate is the best case for the best file, and the rate you are offered is set on your deal. Figures are indicative market data, not Ventas offers. Not published means the lender page did not say.
| Lender and product | Variable rate published | Max LVR | Term and interest only | Fees and notes |
|---|---|---|---|---|
| ING, commercial variable, $500,000 to under $1m (updated 12 Oct 2026) | 7.69% p.a. | Not published | Principal and interest or interest only. Term not published | Fixed rate not published, contact ING. Fixed rate lock fee 0.3% of the loan. Other fees not shown |
| ING, commercial variable, $1m to $8m (updated 12 Oct 2026) | 7.24% p.a. | Not published | Principal and interest or interest only. Term not published | Same fees as above. ING Commercial Cash reference rate 8.16% |
| Liberty, low rate commercial | From 7.75% p.a. (effective 30 Oct 2026) | 80% | Up to 30 years. Interest only up to 8 years, 0.50% loading | Owner occupiers and investors. Maximum loan $10m. Establishment from 1.00%, application from $795 |
| La Trobe Financial, full doc commercial | From 7.94% p.a. (page undated) | 75% | Up to 30 years. Interest only up to 5 years | Min loan $100,000. Application fee from 1.25%. Retail, offices, light industrial and warehouses |
| La Trobe Financial, lease doc | From 7.94% p.a. (page undated) | 75% | Up to 30 years. Interest only up to 5 years | Verified on the full lease agreement. Application fee from 1.25% |
| Liberty, low doc commercial | From 8.25% p.a. (effective 30 Oct 2026) | 80% | Up to 30 years. Interest only 0.50% loading | Accountant's declaration, BAS or bank statements. Maximum loan $8m. Owner occupiers and investors |
| Liberty, lease income loan | From 8.25% p.a. (effective 30 Oct 2026) | 80% | Up to 30 years | Investors only. Maximum loan $4m. Deferred facility fee 1.00% if repaid within 3 years |
| La Trobe Financial, lite doc | From 8.59% p.a. (page undated) | 75% | Up to 30 years. Interest only up to 5 years | Accountant's letter and borrower declaration. Application fee from 1.25% |
| RBA indicator, small business variable term loans, 30 Sep 2026 | 9.00% p.a. | Not applicable | Not applicable | Indicator across lenders, not a product rate |
| Liberty, short term commercial | From 10.05% p.a. (effective date not shown) | Not published | Short term | For bridging style needs, priced well above the term loans |
| Macquarie Business Banking, commercial property purchase (Oct 2026 broker guide) | Rate not published | 70% on commercial property | 5 years, extendable to 10 on credit criteria. Interest only up to 5 years | Establishment up to 0.50% of the limit for loans up to $3m. Assessed at 1.1x interest cover on a buffered rate |
Three points stand out. Published variable rates run from 7.24% to 8.59% at these lenders, which is a spread of 1.35 points on the same type of loan. Bank pricing is cheapest on larger loans: ING is 0.45 points lower at $1m and above than below it. And no lender page published a fixed rate, so you only learn that price by asking. One broker guide quotes owner occupier rates from about 6.25% and another range of 6.5% to 9.5% for banks, but we found no lender page publishing a rate that low, so treat sub 7% figures as a negotiated best case, not a price list.
What moves the rate on your loan
Lenders price the property, the lease and the paperwork, not just the borrower. This is what the pages we opened say.
| What moves the price | What the lender pages show | Effect |
|---|---|---|
| LVR | La Trobe lends $3m at 75%, $25m at 70% and $50m at 65%. Macquarie caps commercial property at 70%. Liberty goes to 80% | Lower LVR widens the lender choice. A broker guide puts the saving at roughly 0.25% to 0.75% a year for every 10 points of LVR (Everstone, not a lender rate card) |
| Documentation | Liberty low doc starts at 8.25% against 7.75% for its low rate loan. La Trobe lite doc starts at 8.59% against 7.94% for full doc | Low doc costs about 0.50% to 0.65% a year more at the same lender, on the published from rates |
| Lease length | Macquarie ties its 5 year term and 5 year interest only period to a weighted average lease expiry of 2 years or more. Liberty and La Trobe lease income loans verify on the lease | Short or expiring leases cut the LVR or push the loan to a non-bank lender |
| Property type | Macquarie accepts office, industrial, retail and mixed use, and says specialised assets may be considered. La Trobe lists retail shops, offices, light industrial and warehouses | Specialised assets such as childcare, medical or hospitality premises get lower LVRs and fewer lenders (broker guidance, no lender figure published) |
| Borrower use | Liberty lease income loans are for investors only. Its other products take owner occupiers and investors | Owner occupiers can use the business as the income. Investors are assessed on the rent |
Read it as a ladder. A full doc owner occupier loan at 65% to 70% on a standard industrial or retail building sits at the bottom. Add a short lease, a specialised building, thinner financials or an 80% LVR and you move to a non-bank, at roughly 8% to 9% a year on these published from rates, before the case-by-case loading.
Fees, valuation and duty on top of the rate
On a $1m loan, an establishment fee of 1.00% is $10,000, about nine months of the 1.35 point rate gap between the cheapest and dearest lender above. Check the fee schedule as well as the rate.
| Cost | Figure | Basis |
|---|---|---|
| Establishment fee | Liberty from 1.00% of the loan, minimum $2,500 or $5,000. Macquarie up to 0.50% of the limit to $3m. La Trobe application fee from 1.25% | Lender pages |
| Liberty settlement, documentation and application | $595, $695 and from $795 (up to $1,045) | Liberty low doc and lease income pages |
| Ongoing fee | Liberty service fee $34.50 a month | Liberty |
| Early exit | Liberty deferred facility fee 1.00% if repaid within 3 years. Discharge $795 plus legal and government charges | Liberty lease income page |
| Valuation and legal | Valuation varies by lender and property. Legal costs are not published | Lender pages |
| Transfer duty on $1.5m, New South Wales | $63,787 ($52,237 plus $5.50 per $100 over $1,290,000) | NSW Revenue scale, our arithmetic |
| Transfer duty on $1.5m, Victoria | $82,500 (5.5% of dutiable value) | State Revenue Office Victoria, our arithmetic |
Duty is the biggest single cost for a buyer and depends on the state. The Victorian figure is 29 per cent higher than the NSW figure on the same price. Ask your accountant how duty and any GST on the price affect your position.
Who borrows and how the loan is structured
Three borrowers use these loans. Owners buying their own premises usually want a 25 to 30 year principal and interest term, and the business income supports the loan. Investors buy leased property and are assessed on the rent: Macquarie applies a 1.1 times interest cover test on a buffered rate, and Liberty's lease income loan is investors only. Owners refinancing to release cash use the equity in a building they already own, and Macquarie lists equity release for property investment as an accepted purpose.
Terms differ more than rates. Macquarie writes five year terms, so you refinance or extend at the end, while Liberty and La Trobe list up to 30 years. Interest only periods run from 5 years at La Trobe and Macquarie to 8 years at Liberty, which adds 0.50% to the rate. Commercial lending to a company is not covered by the consumer credit law, and ASIC says a loan to an individual is caught only when it is mainly for personal, domestic or household purposes or for residential investment. This guide covers business purpose loans only, and a lender will ask you to confirm the purpose in writing.
Financing a commercial property purchase
Banks, non-banks and private lenders all write commercial property loans. Banks are usually cheapest, but Macquarie caps commercial property at 70% and wants company financials. Non-banks lend to 75% or 80% and accept lease or low doc income, for a higher rate and fees. Private lenders suit short loans and deals that do not fit either, at a higher cost again. Warehouses and standard industrial property are among the easier assets. Lenders will be more cautious on specialised buildings, short leases, regional locations and vacant property, and they lend on their own valuer's figure, not your contract price.
Illustrative only, subject to lender assessment. A $1.5m warehouse bought with a 30% deposit:
| Item | Amount |
|---|---|
| Purchase price | $1,500,000 |
| Transfer duty, NSW (our arithmetic) | $63,787 |
| Legal, valuation and due diligence (allowance, our assumption) | $12,000 |
| Total before lender fees | $1,575,787 |
| Funded by the loan (70% of price) | $1,050,000 |
| Funded by you: 30% deposit $450,000 plus duty and costs | $525,787 |
The same $1,050,000 loan compared at a bank rate and a non-bank low doc rate, over a 25 year term, using the published rates above (our arithmetic):
| Over the first 5 years | Bank case | Non-bank low doc case |
|---|---|---|
| Rate used | 7.24% p.a. (ING published, $1m to $8m) | 8.25% p.a. (Liberty low doc, from rate) |
| Loan, 25 year principal and interest | $1,050,000 | $1,050,000 |
| Monthly repayment | $7,583 | $8,279 |
| Monthly interest only (for comparison) | $6,335 | $7,656 (8.75% with the 0.50% loading) |
| Lender fees at settlement | $5,250 (0.50% establishment, Macquarie's published ceiling) | $12,585 (1.00% establishment, application, settlement, documentation) |
| Service fees, 5 years | Not published | $2,070 |
| Interest paid, 5 years | $365,078 | $418,330 |
| Total cost, 5 years (interest plus fees) | $370,328 | $432,985 |
| Loan balance after 5 years | $960,116 | $971,607 |
| Interest over the full 25 years | $1,224,813 | $1,433,618 |
The non-bank case costs $696 more a month and $62,657 more over five years, and you would use it because the bank will not lend, not because it is cheaper. Once your trading history or the lease is stronger, refinance. Watch Liberty's deferred fee of 1.00% ($10,500 here) if you leave within three years.
What makes a deal fundable: a valuation that supports the price, a lease or trading history that covers the repayments, a deposit and costs you can show, and a clear business purpose. To get a number from Ventas, send us the address or listing, the price or value, whether your business will occupy it, the lease if it is tenanted, two years of financials or BAS if you have them, and the deposit you hold. Start at commercial property finance, see property-backed business lending, read what warehouses sell for, or check low doc commercial property loans and buying your premises from your landlord. Finance is subject to lender assessment and approval.
- ING broker, commercial variable rate loans (7.69% and 7.24%, last updated 12 October 2026, fixed rate lock fee 0.3%) (accessed 30 October 2026)
- Liberty Financial, commercial loans overview (from rates for four products) (accessed 30 October 2026)
- Liberty Financial, low rate commercial loans (7.75%, 80% LVR, effective 30 October 2026) (accessed 30 October 2026)
- Liberty Financial, low doc commercial loans (8.25%, fees, interest only loading, effective 30 October 2026) (accessed 30 October 2026)
- Liberty Financial, lease income loans (8.25%, investors only, fees, effective 30 October 2026) (accessed 30 October 2026)
- La Trobe Financial, commercial full doc loan (7.94%, 75% LVR, application fee from 1.25%) (accessed 30 October 2026)
- La Trobe Financial, lease doc loan (7.94%, verified on the lease) (accessed 30 October 2026)
- La Trobe Financial, lite doc commercial loan (8.59%, accountant's letter and borrower declaration) (accessed 30 October 2026)
- Macquarie Business Banking, Commercial Lending Guide, October 2026 (70% LVR, term, establishment fee, interest cover, WALE) (accessed 30 October 2026)
- Reserve Bank of Australia, cash rate target (4.60% from 30 September 2026) (accessed 30 October 2026)
- Reserve Bank of Australia, table F5 indicator lending rates (small business variable term 9.00%, 30 September 2026) (accessed 30 October 2026)
- Revenue NSW, calculate transfer duty (scale over $1,290,000) (accessed 30 October 2026)
- State Revenue Office Victoria, general land transfer duty rates (5.5% from $960,000 to $2m) (accessed 30 October 2026)
- ASIC, does the credit legislation apply (loans to companies, personal and household purpose) (accessed 30 October 2026)
- Everstone Finance, commercial property loan rates (broker guide, updated 17 October 2026, used only for the LVR effect and owner occupier range) (accessed 30 October 2026)
This is general information only and not financial, credit, or tax advice. Figures are indicative market data from the sources listed, not Ventas offers, and move with the market. Consider your own circumstances and speak to a professional. All finance is subject to lender assessment and approval.
Frequently asked questions
What is the interest rate on a commercial property loan in Australia?
Lender pages we opened on 30 October 2026 showed variable rates from 7.24% (ING, $1m to $8m) to 8.59% a year (La Trobe lite doc). Your rate depends on LVR, property type, lease and documents. Fixed rates were not published. These are indicative figures, not offers.
How much deposit do I need for a commercial property?
Most banks lend up to about 70% of the lender's valuation (Macquarie lists 70%), so plan on a 30% deposit plus costs. Non-banks go to 75% or 80%. On a $1.5m warehouse a 30% deposit is $450,000, and NSW transfer duty adds $63,787.
Are low doc commercial property loans more expensive?
Yes, on the published from rates. Liberty's low doc loan starts at 8.25% against 7.75% for its low rate loan, and La Trobe lite doc starts at 8.59% against 7.94% for full doc. Low doc lenders accept an accountant's letter, BAS or bank statements instead of full financials.
Can I get interest only on a commercial property loan?
Often yes. La Trobe and Macquarie list interest only up to 5 years, and Liberty up to 8 years with a 0.50% rate loading. Interest only on a $1,050,000 loan at 7.24% is about $6,335 a month against $7,583 with principal and interest over 25 years.
Is a commercial property loan the same as a home loan?
No. It is business purpose lending secured on commercial property, so it is priced higher, usually capped at a lower LVR and often has shorter terms and fees set on the deal. ASIC says loans to companies are not subject to the credit legislation. A loan for personal use is regulated consumer credit.
Get your number from the lender panel
The figures above are indicative. Tell us what you are buying and we will come back with the real rate and repayment, usually within a day. No upfront fees and no credit check to get a quote.
The property and the numbers
Send us the property, the price or value and whether your business will occupy it. We will show you what banks, non-banks and private lenders would offer, usually within a day.
This article is general information only and not financial, credit, or tax advice. Ventas Asset Lending is a finance broker, not a lender. Approvals are subject to lender assessment. Consider your own circumstances and speak to a qualified professional, including your accountant for any tax questions.