Finance for 45sqm apartment

Aside from the Big 4 Banks, their subsidiaries and ING Direct, which lenders will provide finance to this property type?

Has its own internal kitchen, bath and laundry. 80% LVR.

 

You have covered a lot of the lenders - the only ones not covered and that will do 45sqm @ 80% would be Teachers Mututal, Macquarie and ME Bank.

What's the issue with not using a lender like CBA or Westpac? Is it servicing?

 

Is it a 1br, studio or student type IP?

 

I can think of another few lenders who wouldn't have an issue with a 45 sq M internal unit so certainly not limited to the obvious.

All depends on what you are after when it comes to a particular lender.
Cheers


Richard

 

Inner West Sydney, it has a separate bed area but I think under NSW rules it can't be described as 1br if less than 50sqm. Not student type, just a usual strata unit.

 

Hi waterboy

Why the aversion towards the lenders you've listed in your original post? They will likely provide the best chance of getting this done.

Cheers

Jamie

 

Well actually I'm thinking of NAB's 250000 miles promo! That's 2 return trips to Europe

Just thought maybe there are cheaper rates available out there.

 

If the combined internal, external and parking area on title exceeds 50M2 - NAB will do 90% ( provided you can pass servicing and credit scoring at NAB)

Unlike other lenders, whose size policies are determined by internal M2) NAB's policy is determined by TOTAL area. ( internal + balcony + parking )

 

Not interested in paying LMI
Thanks for the responses.