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Hey howard,
here’s my 20 cents on Victoria Tower, I’m actually getting finance right now for a client…Firstly some banks won’t lend on it at all – Adelaide Bank – as they last year had valuations come back at around $50k LESS than what was paid for them, and that’s apparently still the case…
Secondly, some banks have problems accepting rental guarantees – I’ve checked!!
Thirdly, some banks WILL lend on these style inner-city apartments, but will then only do so on VERY modest Loan to Valuation Ratios – AMP will only lend say 60% on many inner-city places…
So yeah, my gut feeling about the real INNER city Melbourne aparment market says “overpriced” and riddled with some problems getting good finance…
Hope that helps a bit !
Cheers, Marianne.
Thanks people for your responses, however, I was a tad disappointed (though somewhatconfirmed in my beliefs..) that only ONE person actually suggested PLACES…everyone else just said – it’s possible keep looking….
But I guess once you’re onto something you wouldn’t wanna share with anyone else or ???
…
