Residents of the evacuated Mascot Towers are being forced to consider two options to fund urgent remediation works at the 132-unit complex, but fear they won't be able to afford either.

At an annual general meeting later this month, apartment owners will be given the option to proceed with a multimillion-dollar special levy or rescind it in favour of a commercial strata loan to fix the building.

Remediation works have started on the building, with concerns the warmer weather could place more stress on the building. Credit:Kate Geraghty

One loan proposal would offer up to $20 million at a 7.7 per cent variable interest rate per annum over 15 years, with funds to be put towards stages one and three of the remediation works which have already started.

One resident, who did not want to be named, said "the options presented to us as owners are like choosing a preferred execution method".