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Case: HIGN DENSITY APARTMENT + HIGH LVR
Background
Mr & Mrs Chai has been renting for many years, when they finally saved up to 10% deposit, they purchased a 2 bed apartment in South Brisbane. They head to a bank and was advised that they can only borrow 80% of the property, they liked that apartment, and has already paid the deposit which is not refundable, never expect the home loan is unable to get.
Solution:
Then our consultant get involved with the clients. They have good income level, but chose the wrong bank whose lending policy is not friendly with high density apartment. Different banks will have different postcode restrictions, to lower the LVR to control risk. According to the position of the apartment, we choose a bank who can accept this apartment and finally applied for the 90% LVR home loan, and get approved smoothly.
Want to know more?
Please feel free to reach out to our loan consultant for more information.