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Victoria | Lydian platform, delivered in partnership with Clark Finance Group
CHANGE LOCATION
Montmorency sits between Eltham and Greensborough with a village strip, its own station and a lot of established trees. It is a settled family suburb where people arrive with young children and tend to stay, which keeps the market tight and competitive.
Montmorency has the Eltham character without quite the same construction quirks. Most homes are conventional brick or weatherboard on comfortable blocks, which means the lending is usually straightforward and valuations behave predictably. The competition is the harder part.
Because families stay, listings are thin and buyers are frequently up against each other. The practical consequence is that a fully assessed pre-approval matters more here than in a suburb with plenty of stock. Being able to go unconditional, or with a short finance clause, genuinely changes your position at an auction.
The other common conversation is renovation. Homes here are often thirty or forty years into their life with the original kitchen still in place, and owners with equity would rather extend than compete for something already done.
Properly assessed pre-approval, not an online estimate, so you can bid with a short finance clause or none at all.
Equity release and construction finance for owners who would rather improve than move.
Loans taken out three or four years ago are frequently well above current pricing. A review costs nothing.
Whatever stage you are at, there is a path through it. Pick the one that sounds like you.
Some lenders issue a system-generated indication with no human assessment and no credit check. Others fully assess your income, expenses and credit file and issue a conditional approval subject only to a valuation. The second is far more reliable. In a competitive suburb like Montmorency, knowing which you hold is important before you bid.
You can, but auction purchases are unconditional, meaning there is no finance clause to fall back on. If your loan is subsequently declined you could lose your deposit. We would strongly encourage having a properly assessed approval in place before you raise your hand, and we can usually arrange that quickly.
Only what you draw. A renovation or construction facility is approved to a limit, but you pay interest on funds as they are released, stage by stage. So a hundred thousand dollar renovation does not increase your repayments by the full amount on day one. We can show you the progression.
It depends on your loan size and the switching costs. On a large loan even a modest difference compounds significantly over the remaining term. On a smaller loan with discharge and establishment fees, the benefit can be marginal. We will tell you honestly if it is not worth moving, which happens reasonably often.
Book a free consultation and we will walk you through your options, what you can borrow, and what it will cost.
Book a free consultation
Serving clients across Australia.
Authorised Representative no. 525 778
Specialist Financial Group Australian Credit Licence no. 387025
Lydian Financial Services Victoria
Suite 1/103 Grimshaw Street, Greensborough VIC 3088, Australia
Level 12, 15 Collins Street Melbourne VIC 3000, Australia
Copyright © LYDIAN FINANCIAL SERVICES PTY LTD 2026. All Right Reserved.