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Finance for property under 50 square metersFinance for apartment under 50sq meters

 

Depending on the lender, the following can be included as part of the size calculation.

  • Car space
  • Balcony
  • Storage unit/space
  • Internal stairs
  • External laundry ( not shared) 

Size guide for anything under 35 sq meters in living spacehttp://www.shapehomeloans.com.au/blog/finance-for-property-under-40-square-meters-20150706173

 

Finance for units between 40 - 50 square meters

 

  Lender A ( Tier 1 Bank- Major) Lender B ( Tier 2 Bank- Medium)
Interest rate as of June 2015 ( Variable) From 4.40% From 4.09%
Interest rate as of July 2015 ( Fixed) From 4.59% fixed for 3 years  From 4.15% fixed for 3 years 
Max LVR 95% 90% 
Interest only allowed
100% offset account  
Studio apartment allowed ( ie No bedroom)    
Non-genuine savings allowed   up to 90% LVR   up to 85% LVR
Car space and Balcony included into calculations     
 Refinance and cash out allowed    

 

 

 

Finance for units between 35 - 40 square meters

 

  Lender A ( Tier 1 Bank- Major) Lender B ( Tier 2 Bank- Medium)
Interest rate as of July 2015 ( Variable) From 4.40% From 4.39%
Interest rate as of July 2015 ( Fixed) From 4.59% fixed for 3 years  From 4.49% fixed for 3 years 
Max LVR 75-80% 85%
Interest only allowed
100% offset account  
Studio apartment allowed ( ie No bedroom)    
Non-genuine savings allowed      Up to 80% LVR
Car space and Balcony included into calculations     
 Refinance and cash out allowed   Limited cash out  

 

 

Finance for units between 25 - 35 square meters

 

  Lender A ( Tier 1 Bank- Major) Lender B ( Tier 2 Bank- Medium)
Interest rate as of July 2015 ( Variable) From 4.58% From 4.45%
Interest rate as of July 2015 ( Fixed) From 4.69% fixed for 3 years  4.89% fixed for 3 years 
Max LVR 75% 60%
Interest only allowed
100% offset account  
Studio apartment allowed ( ie No bedroom)    
Non-genuine savings allowed     
Car space and Balcony included into calculations    
 Refinance and cash out allowed     Limited cash out

 

 

Finance for units between 18 - 25 square meters

 

  Lender A ( Tier 1 Bank- Major) Lender B ( Tier 2 Bank- Medium)
Interest rate as of July 2015 ( Variable) From 5.40% ( Commerical) From 4.80% 
Interest rate as of July 2015 ( Fixed) From 5.20% fixed for 3 years  From 4.99% fixed for 3 years 
Max LVR Case by case  50%
Interest only allowed
100% offset account  
Studio apartment allowed ( ie No bedroom)  Case by case  Case by case
Non-genuine savings allowed     
Car space and Balcony included into calculations    Case by case
 Refinance and cash out allowed    

 

 

 

Get it right the first time! Contact a Shape home loans Adviser Today! 

 


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