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We are 8 unit owners corporation in Armadale, inner south east of Melbourne.
We will need to raise say $7,000 to pay for roof repairs.
We are looking at raising a special.
We could look at a strata loan. Some questions on this:
According to Victorian legislation what are the legal requirements ?
What are the current interest rates ?
Establishment fees for the loan are high based on a $7,000 loan with Macquarie charging a $1,000 fee and lanock charging $600, which makes me doubt whether this too expense and not worth it.
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