Are you having trouble finding a lender for your inner city or studio apartment? We can help!
If you're buying a suburban apartment of two bedrooms or more, generally you'll find any bank will be able to cater for you. But tell your bank manager that you're buying a studio apartment in the CBD and they'll show you the door. Why? Because most banks are too conservative to take on 'specialised securities' such as this. Tell them it's a serviced apartment or holiday apartment and things will only get worse.
Equita Financial have access to the major banks for your typical apartment purchase, but we also have access to specialised lenders who can help with high-density, high-rise and CBD apartments, as well as serviced, dual-key and holiday apartments. Our alliance with Australia's best network of mortgage providers gives us access to information to help secure your apartment loan.
You should be aware that specialist lenders who lend against specialist apartments will often charge a higher rate of interest, and will sometimes require a higher deposit (lower LVR). But if the bank won't help, and the sums still add up for you, using a specialist lender could be the solution you're looking for.
