With the boom of NDIS investment properties being built – there is now oversupply in some area which some funders will no longer accept. They also want the borrowers to be sophisticated investors.
Changes that come into effect 01/10/24 due to a consolidation of rules surrounding NDIS
1.New NDIS loan applications submitted from 01/10/2024 for the following postcodes will NOT be accepted at any LVR :-
– Victoria 3024, 3029, 3217, 3338, 3753, 3978
– South Australia 5113
– Western Australia 6112, 6171
2. Borrowers
– Not first time investors.
– Sophisticated investors with a household income of at least $250,000 outside of the NDIS income, or a Nett Asset base of at least $2,500,000 is what is being looked for.
3. Property
– Evidence that the clients have done independent research to understand need in the area they are buying.
– NDIS loans for new builds in non-metro postcodes will be approved on a case-by-case exception basis.
For more information contact us
