Mortgage broker, Aspendale VIC
Mortgage Broker in Aspendale
Aspendale is a bayside suburb in Melbourne’s south-east, where many older houses have been replaced by townhouses or new homes. That means construction, subdivision and strata questions for lenders. We compare options from a panel of 40+ lenders.
Aspendale home loans
Old blocks, new townhouses and knockdown-rebuilds.
Buying a new townhouse
Some newer Aspendale homes are townhouses on subdivided blocks. Whether a townhouse is on its own title or within an owners corporation changes how lenders assess it. If it’s off the plan, the lender usually values it near completion, so allow for that gap.
Knockdown-rebuild
Some owners demolish an older house and build new. That usually means a construction loan, with the lender valuing the land and the finished home and paying the builder in stages. Lenders differ on how they handle the period when the old home is gone and the new one isn’t finished.
Subdividing your own block
Splitting a block to build two dwellings is a development project. Lenders look at the plans, approvals, costs and your capacity to hold both loans until you sell or refinance. Some lenders specialise in this; others avoid it.
Victorian duty
Victoria has its own land transfer duty rules, with concessions for some first home buyers and some off-the-plan purchases. Check with the State Revenue Office Victoria, or get an estimate from our stamp duty calculator.
Questions
Common questions, straight answers.
Can I live elsewhere while I knock down and rebuild?
Yes, but you’ll be paying rent or a second loan as well as the construction loan. Lenders check you can afford both during the build.
Is a two-townhouse subdivision a home loan?
It depends on your plans. Some lenders treat it as a construction or development project, with different rules, especially if you’ll sell one. Some lenders specialise in it. We compare the options.
Talk to a mortgage broker about Aspendale.
No obligation. No pressure. Just honest answers.
We don’t charge you for our service. Lenders pay us a commission if you go ahead with a loan.