Browse Forums Home Finance Re: Getting a home loan for a small apartment 7Dec 04, 2011 6:45 pm Hi, Does that squ meter includes car space or balcony? If it's >40 then 80% LVR is fine- but at 80% LVR ( loan to debt ratio) you need to have good/strong employment...if you have a tarnished employment record or credit file then lower the LVR the better. LVR updated as of Nov 2011- http://www.shapehomeloans.com.au/blog/p ... 2011060635 If your concern; you can apply for conditional pre-approval subject to "valuation only" even if it's OTP ( off the plan)' that way instead of "worrying" abt the size of the place...you know from day 1 the lender knows what they are financing and all you need to worry abt is the "valuation value" instead of the security type. Regards Michael Michael Chan | Australia wide Mortgage Broker Michael@ShapeHomeLoans.com.au | 1300 74 5626 | Fax: 02 8212 8909 http://www.ShapeHomeLoans.com.au The biggest challenge will be if you take out a loan and then run out of money - you'll have an incomplete security and lenders do not like this so you can get stuck.… 2 20082 How much are you ahead in payments compared to where the build is at? Have you fully drawn down the loan? 5 12359 Just bought a new 80 sq m apartment under construction in Perth. There is not a lot of space for things (and I'm a collector), but there is a long wall in the living… 0 908 |