Home Loans for Apartments and Units in Brisbane Southside, The 2026 Guide
Apartments and units across Brisbane Southside represent some of the strongest entry points into the property market, particularly for first home buyers working with a smaller deposit. Whether you're looking at a modern apartment in Annerley- Mount Gravatt or considering an established unit in Runcorn, the right lender choice can shift your approval outcome and interest rate significantly.
Not all lenders assess apartments and units the same way. Some have strict policies around unit size, building height, or location. Others specialise in apartment lending and offer competitive rates for quality developments. The difference in borrowing capacity between a unit-friendly lender and one with restrictive policies can be tens of thousands of dollars.
Mortgage Broker Brisbane Southside helps apartment and unit buyers across Brisbane Southside compare loan options across our 50+ lender panel, completely free of charge.
Here's what's worth knowing about unit lending before you approach a lender.
Key takeaways
- Unit lending policies vary dramatically between lenders, making broker comparison essential.
- First home buyers can purchase a unit with a 5% deposit under the Australian Government scheme, no LMI.
- New apartments attract a $30,000 Queensland First Home Owner Grant and full transfer duty exemption.
Why do apartments and units need different lending consideration?
Banks don't see apartments the same way they see houses. Most lenders have specific unit policies that can affect your borrowing capacity, interest rate, and loan terms. Some lenders cap the floor level you can buy on, others won't lend on studios under 40 square metres, and some avoid certain postcodes entirely.
Units carry different risk profiles in lenders' eyes: body corporate issues, potential oversupply in some areas, and resale considerations that don't apply to houses. But here's the thing: those same factors that make some lenders cautious make others competitive. Specialist apartment lenders often offer better rates and terms than mainstream banks for quality developments.
Can you get a home loan for a unit with a 5% deposit?
Yes. The Australian Government 5% Deposit Scheme (formerly the First Home Guarantee) lets eligible buyers purchase with a 5% deposit and no Lenders Mortgage Insurance, up to the $1,000,000 Brisbane price cap. Many quality units across Brisbane Southside fall within this threshold, making the scheme highly relevant for apartment buyers. Our first home buyers service covers exactly how this works in practice.
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What government schemes and grants can apartment and unit buyers use?
Schemes available for apartment and unit buyers in Brisbane Southside:
- › Australian Government 5% Deposit Scheme: Buy with a 5% deposit and no Lenders Mortgage Insurance, up to a $1,000,000 Brisbane price cap. Income caps and place limits were removed in October 2025.
- › Queensland First Home Owner Grant:$30,000 for new apartments where the contract price is under $750,000. The 2026-27 Queensland Budget confirmed this $30,000 amount continues for contracts signed from 1 July 2026, with funding locked in across the forward estimates.
- › Queensland First Home (New) transfer duty exemption: Full transfer duty exemption with no price cap if you buy a new apartment or newly completed unit. From 1 August 2026, this concession is limited to Australian citizens, permanent residents, and specified foreign retirees.
- › Queensland First Home (Established) transfer duty concession: Full concession on established units under $700,000, sliding-scale concession from $700,001 to $800,000. Same citizenship eligibility applies from 1 August 2026.
- › Family Home Guarantee (Single Parent Stream): Single parents can buy with a 2% deposit and no LMI, up to the $1,000,000 price cap. First home buyer status is not required. Must be genuinely single.
- › Queensland Boost to Buy: First home buyers can purchase with a 2% deposit using a government shared equity contribution of up to 25% (established) or 30% (new). Income caps apply ($150,000 single, $225,000 household), price cap $1,000,000, and places are limited. Unity Bank is currently the only approved lender.
How does a mortgage broker in Brisbane Southside help apartment buyers get approved?
Step 1: Talk to us
Get in touch and we'll assess your situation and the specific apartment or unit you're considering against our 50+ lender panel.
Step 2: We review the property details
We check the development, building height, unit size, body corporate details, and location against each lender's specific unit policies to identify which ones will lend on your property.
Step 3: We assess your borrowing position
We review your income, deposit, and existing debts to understand your borrowing capacity with unit-friendly lenders and identify the best rate and terms available to you.
Step 4: We prepare your application strategy
We match you with the lender most likely to approve your specific apartment purchase at the best possible rate, and prepare your application to highlight the property's strengths.
Step 5: We handle the application process
We submit your application, coordinate with the lender's valuer, and manage any additional documentation required for unit purchases, including body corporate details and building reports.
Step 6: We coordinate settlement
We work with your solicitor and the lender to ensure everything is ready for settlement, including final unit inspections and any strata documentation required at completion.
What mistakes do apartment and unit buyers commonly make?
The biggest mistake is approaching your own bank without understanding their unit policy. Many major banks have strict rules around unit lending: minimum sizes, maximum floor levels, or restrictions on certain building types. You might get declined by one lender while another would approve you at a competitive rate for the same property.
Another common issue is not checking body corporate finances before making an offer. Lenders review body corporate statements as part of their assessment, and problems with sinking funds or special levies can derail an otherwise strong application. Get the body corporate details early and have your broker review them before you commit to the purchase.
What should off-the-plan apartment buyers know about construction lending?
Off-the-plan apartment purchases require a different loan structure. Most lenders offer progress payment facilities where you pay the builder at construction milestones, then convert to a standard home loan at completion. Not all lenders handle off-the-plan well, and some charge higher rates or require larger deposits.
The key considerations for off-the-plan include sunset clause protection (what happens if the development is delayed or cancelled), valuation risk (the completed apartment might value lower than your purchase price), and rate lock options (protecting yourself if rates rise during construction). A mortgage broker experienced in off-the-plan purchases can structure these protections into your loan from the start.
50+ lenders
Evergreen compares unit lending policies across a panel of 50+ banks, specialist and non-bank lenders to match you with the right one for your property.
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Local experts
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Prefer to talk now? Call 0421 152 859 |
Frequently Asked Questions
Do apartments and units get higher interest rates than houses?
Not necessarily. Competitive apartment lenders often match house rates for quality developments. However, some mainstream banks do charge slightly higher rates for units, which is exactly why broker comparison matters for apartment buyers.
What is the minimum size apartment that lenders will approve?
Most lenders require at least 40 square metres for studios, and some prefer 50 square metres or more. One-bedroom apartments typically need to be 45 square metres or above to satisfy most lender policies.
Can you use the Australian Government 5% Deposit Scheme for an investment unit?
No. The scheme is for owner-occupiers only. Investment unit purchases require standard deposits, typically 20% minimum, and are assessed under investment lending criteria.
Do lenders care about body corporate fees when assessing a unit purchase?
Yes. High body corporate fees reduce your borrowing capacity because they are treated as an ongoing expense. Lenders also review body corporate finances to ensure the building is well-maintained and financially stable.
What is the maximum floor level lenders will approve for apartments in Brisbane Southside?
Most lenders have no floor restrictions for quality apartment buildings with proper fire safety systems. Some lenders prefer lower floors, but specialist apartment lenders regularly approve high-rise purchases across Brisbane Southside.
Should apartment buyers use a mortgage broker or go direct to a bank?
A mortgage broker, every time. Unit lending policies vary dramatically between lenders. Your bank might decline an apartment that another lender would approve at a better rate. Brokers know which lenders specialise in apartment lending and can match you with the right one from the start.
Can you buy an apartment off-the-plan with a 5% deposit?
Yes, if you qualify for the Australian Government 5% Deposit Scheme and the developer's sales process accommodates government-backed lending. Not all off-the-plan sales work with 5% deposits, so confirm this early in your property search.
Your Next Steps
Getting your apartment loan right in Brisbane Southside is about finding the lenders who understand unit lending and offer competitive rates for quality developments. The right lender for your situation can mean better borrowing capacity, lower rates, and smoother approval, all things that vary significantly across a panel of 50+ lenders.
Ready to find out which lenders work best for your apartment or unit purchase? Contact the Evergreen Loan Solutions team for a free consultation or call 0421 152 859. We'll assess your situation and property choice across our 50+ lender panel to identify the best options for you.
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External Resources
Evergreen Loan Solutions · Eight Mile Plains and Brisbane Southside · General information only - this article does not constitute financial advice. Please consider your own circumstances and seek professional advice before making any financial decisions. · Last updated 4 July 2026
