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Under 40m2 loan for overseas buyer

Discussion in 'Property Finance' started by lil85, 2nd Aug, 2015.

  1. lil85

    lil85 Member

    Joined:
    2nd Aug, 2015
    Posts:
    11
    Location:
    melbourne
    Can anyone help? Bought OTP 1 bedroom apartment, sized 43.3m2 internal & 6.4m2 balcony on the marketing material. Used mortgage ezy and valuer came up with size 39.4m2

    No carpark
    Overseas buyer
     
  2. euro73

    euro73 Well-Known Member Business Member

    Joined:
    18th Jun, 2015
    Posts:
    1,411
    Location:
    Sydney
    Does it have parking? if so, what's the m2?
     
  3. lil85

    lil85 Member

    Joined:
    2nd Aug, 2015
    Posts:
    11
    Location:
    melbourne
    it does not have parking
     
  4. Redwood

    Redwood Well-Known Member

    Joined:
    22nd Jun, 2015
    Posts:
    342
    Location:
    Melbourne
    Hi there - there are a few lenders who will be ok, it happens alot, we had two deals in a similar situation this week. Your total is greater than 40sqm so you will be ok, this will also depend on where the security is and the size of the building. You will not have an issue - just have to choose the right lender. Assume you are in Melbourne (with this size apt) so happy to help.

    Cheers Ivan
     
  5. Shahin_Afarin

    Shahin_Afarin Residential and Commercial Broker Business Member

    Joined:
    18th Jun, 2015
    Posts:
    641
    Location:
    Sydney
    Need more details but sounds like a CBA loan to me........ even if the size of the unit is under 40sqm they will do it.

    I did one recently @ 80% (it was actually a medico at 90%) and the sqm was under 40sqm.

    So there are definitely options out there.

    Why did you go with Mortgage Ezy?

    Also are you an expat or temp res?