Lenders for Docklands apartment <50sqm

Discussion in 'Loans & Mortgage Brokers' started by Hockey Monkey, 19th Mar, 2016.

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  1. Watson1

    Watson1 Well-Known Member

    Joined:
    23rd Jun, 2015
    Posts:
    197
    Location:
    Melbourne
    Doing a 26sqm cash out on unencumbered apartment now but has not been assessed yet. Previously did one on a 29sqm property at 80% and they were fine with it. I was told they can to anything greater than 18 sqm...
    Don't know what kind of shoe box you can find that is only 18sqm. I am pretty sure car parks are like 14sqm so I can not imagine what it is like living in an 18sqm property.
     
    Watson1, 21st Mar, 2016
    #21
  2. Jason Tyrrell

    Jason Tyrrell Well-Known Member

    Joined:
    8th Jul, 2015
    Posts:
    61
    Location:
    Sydney
    Yeah have done a 29sqm, never 26sqm or less though.
    Like you, have been told they will do less still. Definitely a go to lender for less than 40sqm.
     
    Jason Tyrrell, 21st Mar, 2016
    #22
  3. Marty McDonald

    Marty McDonald Mortgage broker Business Member

    Joined:
    22nd Jun, 2015
    Posts:
    880
    Location:
    Sydney North Shore and Norther beaches
    I've financed 29m2 with them in North Sydney. I wouldn't try it on in a mega complex in a CBD, docklands like area though.
     
    Marty McDonald, 21st Mar, 2016
    #23
  4. Steven Ryan

    Steven Ryan Well-Known Member

    Joined:
    18th Jun, 2015
    Posts:
    2,656
    Better yet....pass this thread on.

    Now why would a developer offer a rental guarantee if it's a good investment...
     
    Steven Ryan, 21st Mar, 2016
    #24
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