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Victoria | Lydian platform, delivered in partnership with Clark Finance Group
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Alphington has changed more than most inner north suburbs, with the former paper mill site redeveloped into a substantial new residential precinct alongside the established period housing. It is now two quite different markets sitting side by side.
The redevelopment has given Alphington a large amount of new apartment and townhouse stock in a relatively short period. That is exactly the situation where lender concentration limits become relevant, since most lenders cap how many dwellings they will finance within a single development.
A good deal of that stock was also sold off the plan, which brings its own considerations. Finance is reassessed at completion rather than at signing, against your circumstances and the property’s value at that point. Where either has moved, the gap is the buyer’s to cover. It is worth understanding that properly before signing rather than discovering it at settlement.
The established part of Alphington is a conventional inner north market of period and interwar homes, tightly held, with the usual renovation and upgrade conversations.
A lot of new stock in one place. Lenders cap exposure per development, so check before you commit.
Finance is reassessed at completion, not at signing. We set out the risks plainly.
The older part of the suburb is a conventional tightly held market with the usual renovation work.
Whatever stage you are at, there is a path through it. Pick the one that sounds like you.
The lender advances against the lower of price or valuation, so you would need to cover the difference in cash at settlement. This is the most common difficulty with off the plan purchases. Keeping a buffer and having your position re-checked several months before settlement is the practical protection.
They can limit their exposure, yes. Most cap themselves at around twenty to thirty per cent of dwellings in a single complex. In a large, quickly-sold development that ceiling may already be reached with several lenders. That does not stop you buying, but it narrows who will fund it, which is worth knowing early.
They suit different buyers and we are not in a position to say which is better for you. New means lower maintenance, modern finishes and sometimes scheme eligibility. Established means land, character and generally a more predictable valuation. The lending is more straightforward on established property, which is a factor worth weighing.
Typically three to six months, which is far short of a settlement that may be two years away. You cannot hold an approval for that period. What you can do is have your position assessed before signing so you know it is realistic, then apply formally in the months before completion.
Book a free consultation and we will walk you through your options, what you can borrow, and what it will cost.
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Lydian Financial Services Victoria
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Copyright © LYDIAN FINANCIAL SERVICES PTY LTD 2026. All Right Reserved.