In short: GNT Finance is a Melbourne mortgage broker for CBD, Southbank and Docklands apartment buyers. We know which lenders restrict postcodes 3000, 3006 and 3008, what minimum sizes and loan-to-value ratios apply, and how the First Home Guarantee and the 20 October 2026 off-the-plan duty deadline affect your purchase. Phone and video appointments, and no cost to you for our home-loan service in most cases.
Buying in the Hoddle Grid is unlike buying anywhere else in Victoria. The property is almost always an apartment, the lender's policy on the building matters as much as your income, and the owners corporation can cost more each year than the rates.
What is different about the CBD market
The CBD is defined by its towers. Stock ranges from studios and student apartments near RMIT and the University of Melbourne to large two- and three-bedroom apartments in newer buildings around Queen Victoria Market, the Paris end of Collins Street and along the Yarra towards Docklands and Southbank. Transport is the best in the state: Flinders Street, Southern Cross, Melbourne Central, Parliament and Flagstaff on the City Loop, plus the Metro Tunnel stations and every tram line.
Lender policies for postcode 3000 and its neighbours commonly include:
- A lower maximum loan-to-value ratio, often 70% to 80%, on high-density buildings.
- Minimum internal floor area, typically around 40 to 50 square metres, excluding balconies and car parks.
- Exclusions for studios, student accommodation, serviced apartments and hotel-style buildings.
- Exposure limits: once a lender holds a set number of loans in one tower, it stops lending there.
- Extra scrutiny of cladding history, building defects and the owners corporation's finances.
None of this means you cannot buy. It means the pool of lenders for a given apartment is smaller, and checking the building first saves you a declined application.
Grants, duty and the off-the-plan deadline
| Scheme | CBD relevance | Key figure |
|---|---|---|
| First Home Guarantee | Owner-occupier apartments | 5% deposit, no LMI, $950,000 cap |
| First home buyer duty exemption and concession | One- and two-bedroom apartments | Nil up to $600,000; concession to $750,000 |
| Off-the-plan duty concession | All buyers, including investors | Ends 20 October 2026 |
| Foreign purchaser additional duty | Non-resident buyers | 8% on top of standard duty |
| Absentee owner surcharge | Overseas-based investors | 4% land tax surcharge |
The off-the-plan concession removes construction costs incurred after the contract date from the dutiable value, which can cut duty dramatically on a tower still under construction. Sign before 20 October 2026 to use it. Our buying off the plan guide covers valuation risk at settlement, and our foreign purchaser additional duty page and home loans for visa holders page explain the extra costs and FIRB steps for buyers who are not citizens or permanent residents.
Worked example: a first home buyer's two-bedroom apartment
Say you buy a completed two-bedroom, 60 square metre apartment near Flagstaff Gardens for $700,000 as your first home.
- General duty: $2,870 plus 6% of $570,000, which is $37,070.
- First home buyer concession: $37,070 multiplied by $100,000 over $150,000, so about $24,713 payable. Check it in the stamp duty calculator.
- With a lender that accepts the building under the First Home Guarantee: 5% deposit of $35,000, no LMI, loan of $665,000. For illustration, at 6.00% p.a. over 30 years that is about $3,987 a month, plus owners corporation fees.
- With a lender that caps postcode 3000 at 80%: you need a $140,000 deposit and the loan is $560,000, or about $3,357 a month.
The difference in deposit is $105,000, and the difference is entirely down to lender policy on the building. That is why we check lender appetite for the specific tower before you make an offer. Under the APRA buffer, the lender assesses either loan at 9.00%.
Investors and refinancers in the CBD
Investors buy for the rental demand from students, hospital staff and professionals. We structure investment property loans with interest-only periods and model rent against interest, owners corporation fees and land tax in the investment property cashflow calculator. Overseas-based owners pay the 4% absentee surcharge, and an apartment left empty for more than six months in a year can attract vacant residential land tax; see our vacant residential land tax page.
Refinancing is a live issue for CBD owners whose original lender is now restrictive on the building. We find lenders that will take the security at a competitive rate.
How GNT Finance works with CBD clients
Our office is at 23 Astbury Crescent, Mickleham, in Melbourne's north, so CBD clients work with us by phone and video with electronic signing; we come into the city for signings where practical. Gorakh Timilsina, our founder, assessed applications as a senior credit officer and has seen apartment loans declined on building policy rather than the borrower, which is exactly what we screen for. We speak English, Nepali and Hindi.
Nearby areas
We also serve Footscray, Essendon, Sunshine, Preston and Coburg. See every area on the locations page.
Frequently asked questions
Will lenders finance a studio apartment in Melbourne CBD?
Very few will. Most lenders exclude studios and any apartment under about 40 square metres of internal area, and those that lend often cap the loan at 70% or less of value. A one-bedroom apartment with a separate bedroom and 50 square metres or more is far easier to finance.
What should I check in the owners corporation before I buy?
Read the owners corporation certificate for fees, the maintenance fund balance, any special levies, insurance and any building defect or cladding disputes. Lenders read the same document, and a tower with unresolved cladding rectification can be excluded outright. Our owners corporation page explains what each item means.
Can I use the First Home Guarantee on a CBD apartment?
Yes, if the price is under $950,000, you will live in it, and the lender is a participating lender that accepts the building. Studios and student apartments generally are not accepted. The scheme does not override a lender's own postcode policy, so building eligibility is confirmed first.
I am on a temporary visa. Can I buy an apartment in the CBD?
Possibly. Temporary residents usually need FIRB approval before buying and pay Victoria's 8% foreign purchaser additional duty on top of standard duty. Lenders that accept visa holders typically require larger deposits. We confirm both the FIRB position and the lender's visa policy before you exchange contracts.
Talk to GNT Finance
Before you pay a holding deposit on a CBD apartment, let us check which lenders will take the building and what deposit they will need. Book a free consultation or call 0426 403 703.
Written by Gorakh Timilsina
Founder, CEO & Senior Mortgage Consultant at GNT Finance. Gorakh started as a broker assistant, spent years as a senior credit officer assessing loan applications, and now helps Melbourne families get the right loan approved. English, Nepali and Hindi spoken.