Guide
Lease Doc Commercial Loans
When you are buying or refinancing a tenanted commercial property, the lease may support the income assessment. The borrowing limit, required documents and loan terms depend on the lender and the property. We compare the available routes before you apply.
- Founded by two former bankers
- Commercial and business finance specialists
- Perth based
- MFAA member
Quick facts: lease doc lending (checked 14 August 2026)
| What qualifies the loan | The lease income of the property, not full borrower financials |
| Published LVR ceilings | La Trobe 75%, identical to its full doc; Liberty up to 80% on lease income (effective 13 Aug 2026) |
| La Trobe size tiers | 75% to $3m, 70% to $25m, 65% to $50m, terms up to 30 years |
| What doc type moves | Document requirements, rates, fees, maximum amount and LVR depend on the chosen product. |
| Servicing test | Interest cover from rent, at the lender's buffered rate |
| Lease doc vs low doc | Lease doc assesses the lease; low doc assesses the borrower on alternative evidence |
A lease doc commercial loan uses the property's lease income as the basis for assessing whether it can support the proposed borrowing. The lender still assesses the property, borrowing structure and its product requirements. The named LVR examples above are maximum limits for those products, not a borrowing entitlement. Compare the amount, total cost, required documents and conditions available for your property before selecting a route.
Who lease doc is actually for
The borrowers who need this product are rarely weak borrowers. They are borrowers whose paperwork understates them. An investor with several entities and lumpy distributions whose latest return says little about capacity. A trust or company holding its first property, with no trading history for a full doc assessment to read. A business owner whose most recent financial year carried one-off costs that make the accounts look worse than the business. In each case the property is sound, the lease is real, and the rent covers the debt. Lease doc lets the lease make that argument directly.
It is also the natural product on the buy side of leaseback transactions: an investor purchasing a property with a long lease already in place is buying exactly the income stream a lease doc assessment wants to see. If you are on the other side of that trade, selling your premises and staying on as tenant, our guide to a sale and leaseback of business premises covers how the lease you sign sets the price you get.
What the lender reads in the lease
With the financials stepped back, the lease carries the file. Remaining term does most of the work, because a strong lease with two years left on it is a weak proposition against a loan that runs far longer, so what counts is the term remaining rather than the term originally signed. Tenant covenant comes next, since a national brand and a startup on its first site pay identical rent on paper and nothing like it in a credit assessment. The rent has to be at market and at arm's length, because the assessment capitalises it and an inflated figure inflates everything downstream. A net lease where the tenant carries the outgoings supports more debt than a gross rent the owner pays costs out of.
The servicing test is usually interest cover from the rent, run at the lender's buffered assessment rate rather than the rate you pay. How that test works, and how it differs from the DSCR applied to trading businesses, is covered in our guide to commercial loan DSCR. To see the buffered repayment on your own numbers first, the commercial property loan calculator shows it alongside the deposit and WA duty.
Lease doc, low doc, full doc: pick by the obstacle
Start with the income supporting the proposed borrowing and the evidence available for it. Lease doc centres on the property's lease. Low doc or alternative-documentation lending uses other accepted evidence of the borrower's income. Full doc uses full verification of that income. More than one route may be available, so compare the amount, costs, documents and conditions before submitting an application. The first quote under one label may not be the best available fit for the deal.
Where the tenant is your own business, check the lender's related-party rules before relying on lease doc. A lease between related entities does not by itself establish eligibility. If super forms part of the proposed structure, we work alongside your accountant on the finance assessment; our guide to SMSF commercial property loans introduces that separate topic. For the broader borrowing picture around premises and commercial property, start with commercial property finance.
Why businesses put us in the deal
Bankers first, brokers second. Rockwall was founded by two former commercial bankers, and years of working with bank credit teams taught us how they assess a deal. We structure yours the way the person approving it will read it.
Access to more than 40 lenders. Through our Finsure accreditation we can take your deal to the major banks and to the non-bank and specialist lenders behind them, and we know which credit teams currently have appetite for deals like yours.
Licensed and accountable. We are MFAA members and Credit Representatives (579184, 579182 and 580433) of Finsure Finance & Insurance Pty Ltd.
Compare documentation routes for your commercial property
Lease-doc vs full-doc commercial property loans
Compare the evidence each route uses, then the offers you qualify for. Lease-doc assessment centres on the property's lease income. Full-doc assessment uses full verification of the borrower's income. Both still depend on the property, borrowing entity and the lender's requirements.
Swipe or scroll each table sideways to compare both options.
| Prepare | Lease-doc | Full-doc |
|---|---|---|
| Income evidence | The signed lease, rent, expiry, options and outgoings. | Income records appropriate to the borrower, such as business financials or employment evidence. |
| Transaction details | Property, tenant, borrowing entity, amount required and cash available. | Property, borrower, existing commitments, amount required and cash available. |
| Offer comparison | Compare the approved amount, repayments, fees, security, term and conditions. The documentation label alone does not determine total cost or suitability. | |
An investor with a tenanted warehouse can ask whether both routes are available. A business buying its own premises should disclose any relationship between the tenant and property owner early. A lease to your own business does not by itself establish lease-doc eligibility.
Lease-doc vs low-doc: which income is being evidenced?
They address different evidence questions. Lease-doc centres on the rent from the property. Low-doc or alternative-documentation lending uses other accepted evidence of the borrower's income, which may include BAS or an accountant's declaration. Documents and eligibility vary by product.
Identify the income that supports the proposed borrowing before choosing a label. Then compare the actual offers, including any additional documents or conditions. This is a starting conversation, not a complete application checklist.
Who can arrange a lease doc commercial loan?
Rockwall Finance helps buyers and property owners assess and arrange finance for tenanted commercial property. Based in Perth, co-founders Rowan Edwards and Ari Freund are former business bankers. We review the property, lease and borrowing structure, compare suitable lender options, and support the application through to settlement.
For an initial review, tell us:
- Whether you are purchasing or refinancing.
- The property's location, type and approximate value.
- The loan amount you need.
- The rent, outgoings and remaining lease term.
- Who owns or will own the property, and whether the tenant is related to that owner.
If your own business will occupy the property, start with our guide to buying your business premises. Tell us about that relationship so we can check which documentation routes are available.
Frequently asked questions
What is a lease doc commercial loan?
A lease doc commercial loan is assessed on the rental income of the property being financed, evidenced by the lease, instead of on full financial statements for the borrower. If the rent covers the loan servicing test, the deal can proceed without tax returns and detailed financials. It exists because plenty of sound borrowers have paperwork that understates them: an investor whose income is lumpy, a structure with limited trading history, or accounts where the most recent year does not reflect the current position. The property and its lease carry the assessment instead.
What LVR can I get on a lease doc loan?
The maximum LVR depends on the product, property and loan amount. La Trobe Financial's Lease Doc and Full Doc product pages both publish 75% maximum LVR, with tiers of 75% to $3 million, 70% to $25 million and 65% to $50 million (sources: https://www.latrobefinancial.com.au/lending/lease-doc-loan/ and https://www.latrobefinancial.com.au/lending/full-doc-commercial-loan/, checked 11 October 2026). Liberty's lease income product publishes a maximum 80% LVR, subject to its lending criteria (source: https://www.liberty.com.au/commercial-loans/lease-income-loans, checked 11 October 2026). These examples do not establish a standard limit across lenders. We check the available amount against your particular property, lease and borrowing structure.
What is the difference between lease doc and low doc?
Lease doc qualifies the loan on the property: the lease income services the debt, and the borrower financials largely step back. Low doc qualifies the loan on alternative evidence of the borrower income, such as an accountant declaration, BAS statements or business bank statements, instead of full financials. Lease doc suits tenanted investment property where the rent does the work. Low doc suits owner-occupiers and trading businesses whose income is real but whose paperwork lags it. They are often confused because both step around full financials, but the thing being assessed is different: the lease in one, the borrower in the other.
What does the lender check on the lease?
Four things decide most lease doc assessments. The first is how much term is left on the lease, because a lease that expires before or shortly into the loan leaves the lender exposed, which makes the remaining term more important than the term originally signed. The second is the tenant covenant, since a national brand reads differently to a startup on its first site. The third is the rent, which has to be at market and at arm's length, because an inflated rent inflates the whole assessment. The fourth is the lease structure, where a net lease with the tenant carrying the outgoings supports more debt than a gross rent that the owner pays costs out of. The servicing test itself is usually run on interest cover from the rent, at the lender buffered rate rather than the rate you pay.
Can I use a lease doc loan if the tenant is my own business?
A lease to your own business does not establish lease doc eligibility. The relationship between the property owner and tenant needs to be checked against the particular lender's requirements before you choose this route. Tell us who owns the property and who operates the tenant business. We can assess the available documentation routes and whether the application needs to be supported by your business financials.
Is a lease doc loan more expensive than full doc?
Compare the actual offers you qualify for. The documentation label alone does not tell you which loan will cost less. Ask for the rate, repayments, establishment and ongoing fees, valuation and legal costs, loan term and exit conditions for each option. A useful comparison also checks whether each route provides the amount and settlement timing you need. We can compare the available options using the same property and borrowing brief.
Get started
Want to talk it through?
Send us a short enquiry. We'll tell you whether it's fundable, how we'd structure it, and which lender we'd take it to. No obligation, and no meeting required to get an answer.
Prefer to talk? Call Rowan on 0483 292 005 or Ari on 0434 929 370.