It seems that GE – Mortgage Insurance Services has decided that small units (<50sqm) are not good. This is a relatively new wrinkle as I have seen the lender summaries that brokers use to assess lenders. GEMIS used to do these loans.
Anyhow if it was easy everyone would do it and I wouldn’t have the opportunity to earn excess returns.
Tonight I heard that there is still a financier or two left who can lend 80% Loan-Value-Ratio (LVR). It may cost me a rate premium, but that’s still ok. More as it comes to hand.