EP: 166•24 Feb 2020

Is My Apartment Too Small To Get a Loan From a Bank? | Ep. 166

About this episode

In this episode, we discuss bank lending on apartments, and the minimum square metre size requirements to get a home loan.

Each bank has slightly different lending regulations, but as of the publishing date the minimum standards are generally:

40 metres squared ‚Äì KiwiBank and ASB
45 metres squared ‚Äì ANZ
50 metres squared ‚Äì BNZ
60 metres squared ‚Äì TSB

A bank may also not lend on your apartment if they've already met their internal lending limit on a building. So if one bank has 25% market share, they generally won't want more than 25% of the lending on that apartment block while it's in development. That's because if something was to go wrong with the development, the bank would have too much exposure.

We also plugged our 9,500-word guide to mortgages, the Epic Guide to Mortgages. This is the guide that will teach you both how to get a mortgage and pay it off in 2020.

Ok, now for the legal bit:

The Property Academy Podcast is for your general information. It’s not financial advice.

So the hosts aren’t telling you what to do with your own money. We’ve made every effort to make sure the information is accurate. But we occasionally get the odd fact wrong.

Make sure you do your own research or talk to a financial adviser before making any investment decisions.

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Is My Apartment Too Small To Get a Loan From a Bank? | Ep. 166

About this episode

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