85% no lmi

Discussion in 'Loans & Mortgage Brokers' started by Sydlad, 25th Dec, 2017.

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  1. Sydlad

    Sydlad Well-Known Member

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    Nundah
    Anyone know if any lenders waive lmi @ 85%
     
    Sydlad, 25th Dec, 2017
    #1
  2. Rolf Latham

    Rolf Latham Inciteful (sic) Staff Member Business Plus Member

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    None on our lender panel

    90 for some special peops

    the 85 % no lmi thing is pretty much dead these days

    ta
    rolf
     
    Rolf Latham, 25th Dec, 2017
    #2
  3. 11160

    11160 Member

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    Gold Coast
    Should be possible with a secured loan with equity in another property.

    Jokes, not a chance. Just pay it man.
     
    11160, 25th Dec, 2017
    #3
  4. tobe

    tobe Well-Known Member

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    Melbourne
    Citi bank and pepper. There’s quite a few restrictions on each policy.
     
    tobe, 26th Dec, 2017
    #4
  5. Redom

    Redom Mortgage Broker Business Plus Member

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    I believe Pepper do this (no risk fee), PPOR P&I only. Rate is about 0.50% above market though, so over medium term your better of paying the LMI. Can be useful for a short term play in some cases.
     
    Redom, 26th Dec, 2017
    #5
  6. Corey Batt

    Corey Batt Well-Known Member

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    Adelaide, SA
    There are options but you'll pay a slight premium, so it's not a real saving. Best bet is generally to cop the LMI but have a sharp rate, so over the longer term you'll come out ahead.
     
    Corey Batt, 27th Dec, 2017
    #6
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