Most first purchases in Sydney are apartments, and most lender rules about property are written for them: minimum floor areas, limits on how many units a lender will hold in one building, postcode lists and strata reports. Knowing the rules before you bid is the whole game.
Two tests. First the usual one: whether your income supports the loan. Then the property: the unit’s internal size against the lender’s minimum, how many loans the lender already holds in the building and postcode, and the strata report.
A unit that fails the second test can turn an approved borrower into a decline.
Part of the first home buyer loans guide.
The next sold sign could be yours.
A free 30-minute call shows where you stand.
Book my free callQuick repayment estimate
If things change
Principal and interest, constant rate, monthly repayments. An estimate only, not credit advice or an offer.
Confirm your numbers.
Charles and the team at links property finance recently assisted me with my purchase of my first property in Burwood. As a first home buyer, Charles made the process simple and easy. I would recommend Charles to all first home buyers
Charles at Links Property Finance made buying our first home so much easier than we expected. As first home buyers, we had a lot of questions around borrowing capacity, our deposit and the different government schemes available to us. Charles explained everything clearly, compared different lenders and kept us updated throughout the whole process. He was always easy to reach and made sure we understood what was happening from pre approval right through to getting our home loan approved. We would definitely recommend Links Property Finance to anyone looking for a mortgage broker, especially first home buyers who want someone to guide them through the process.
Had a really good experience with Charles at Links Property Finance. He was easy to deal with, always quick to respond and kept everything simple and clear throughout the whole process. You can tell he genuinely cares about getting the best outcome for his clients rather than just getting things done quickly. Really happy with the experience and would happily recommend Charles and Links Property Finance to anyone.
Charles Touma, Mortgage Broker.
How the same buyer is treated differently depending on the apartment. Maximum loan-to-value ratios are typical ranges, not a quote.
| Standard unit, 50 sqm or more, established building | 90 to 95 per cent. 5 to 10 per cent deposit, LMI unless the 5% Deposit Scheme applies. |
|---|---|
| Unit between 40 and 50 sqm | 80 to 90 per cent. Fewer lenders, 10 to 20 per cent deposit. |
| Studio under 40 sqm | 60 to 80 per cent. Specialist lenders, 20 to 40 per cent deposit. |
| Unit in a high-density postcode | 80 to 90 per cent. Larger deposit with some lenders, standard with others. |
Ranges reflect policies Charles sees across the panel. The specific building and your own position decide the actual figure.
The sinking fund balance against the age and size of the building tells you whether the owners have been saving for the roof, the lifts and the waterproofing. The minutes show disputes, defects claims and any building-wide problems that a valuer will read as risk.
A healthy fund in an older block is a good sign; an empty one in a 1970s walk-up means levies are coming. Special levies struck or proposed are a cost you inherit, and a lender will factor them into the valuation.
The schemes are written with apartments in mind.
Not for a standard unit of 50 square metres or more in an established building. It gets harder as the unit gets smaller, the building gets taller or newer, or the strata report gets worse, because the lender is assessing the security as well as you.
Commonly 40 to 50 square metres of internal living area. Some lenders accept smaller units with a larger deposit, and a few specialise in studios. Balconies and car spaces are usually excluded from the measurement.
Yes. Exposure caps of around 20 to 25 per cent of a building are common. In a large new development a lender can be full, which is why Charles checks exposure before an off-the-plan contract is signed.
Yes, up to the $1.5 million Sydney price cap for an eligible first home buyer. The apartment still has to meet the lender’s own size and building rules.
It can. Unresolved building defects, major litigation or an empty sinking fund with large levies pending can lead a lender to decline the security or reduce the loan-to-value ratio. A clean report with a well-funded scheme is a positive for the valuation.
Yes: the valuation is done close to settlement, not at contract, so it reflects the finished building and the market at that time. If it comes in under the contract price, the loan is based on the valuation and you cover the difference.
Read the small apartment guide for units under 50 square metres, the off-the-plan guide for new builds, and the low valuation guide for what to do when the number comes in short.
Send Charles the address and the strata report. He checks the size, the building, the postcode and the lender exposure against current policy and tells you which lenders will take it. Free, no credit check.
Prefer a callback?Charles calls back within one business day. No documents needed yet.
General information only, not credit or financial advice. Lender policies on property types change and differ between lenders, and the examples are illustrations rather than quotes. Links Property Finance holds an Australian Credit Licence authorisation and can confirm how a specific property would be assessed.
Official sources for the figures on this page: Housing Australia, 5% Deposit Scheme. Scheme rules change; the official pages are the final word. Checked against these sources on 12 October 2026.
