Studio / One-Bedroom Apartment <40sqm

June 13, 2017
Raymond Teh

Studio / One-Bedroom Apartment <40sqm

First home buyer and investors chasing high rental yield often find studio apartment / one-bedroom attractive. Be forewarned that most lenders will not lend for apartments with <40sqm of living space (living area excluding carpark and balcony).

Purchasers would often have obtained a pre-approval, leading to a false sense of security. Pre-approval without exception is subject to a property being deemed acceptable to the lender.

Provided there is a kitchen and bathroom, the Commonwealth Bank covers a niche where it can lend up to 80% for a studio apartment regardless of size.

Posted in: First home buyers

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