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

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 – KiwiBank and ASB
• 45 metres squared – ANZ
• 50 metres squared – BNZ
• 60 metres squared – 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.