I can get finance for any property I buy

Over the last few years, lenders have restricted their criteria when it comes to the type of property they'll accept as security against a loan, as they need to ensure they can offload the asset quickly if you default on your mortgage in order to cover their costs.

Bearing this in mind, some types of real estate are more favourably looked at than others by the banks and they'll assess the location, size, and features of a property before accepting it as security.

For instance, a regional town or small one-bedroom apartment in a new high-rise complex will be less likely to pass the test than an inner suburban detached family home or spacious apartment.

Get it right

Before you commit to any property, you should check with lenders whether they will accept the asset as security or not and if there will be any higher costs for doing so.

For instance, the purchase of an off-the-plan CBD apartment will not be funded by most banks at a loan-to-value ratio of more than 70% and you'll be approved for less if you buy in a country town.

RealRenta has all the tools that a property manager has but for less than ¼ the cost of a property manager.

Join now and the cost is less than a cup of coffee a week to manage your rental property

RealRenta also has a free vision, so why not check it out

Jason Gwerder
Thursday, 1 September 2022

Join our mailing list Receive Free Property Tips and news

Now Partnered With


Contact Us

1300 11 RENT (7368)