Hi everyone just a quick question as i am getting very different answer's from brokers ><.From my understanding most banks will only lend 90% with LMI if a property is above 50m2 and only 70% below 50m2 and they ignore balcony's in that measurement but what about enclosed or semi enclosed Alfresco are they included in the total size that a lender looks at??
I currently have a holding deposit down on a off the plan unit that is only 43m2 with a 9m2 Alfresco i don't wont to get into a situation were i put down my 10% deposit now and come the time in 2years on completion of the property i cant get a lender to lend at 90%.
I currently have a holding deposit down on a off the plan unit that is only 43m2 with a 9m2 Alfresco i don't wont to get into a situation were i put down my 10% deposit now and come the time in 2years on completion of the property i cant get a lender to lend at 90%.