Lenders that will lend up to 95%?

Hi all,

Does anyone know which lenders will lend up to 95%?

Cheers,

Ben

 

Unless things have changed much lately, CBA, Bankwest, ME and RAMS probably still do.


What's the cost and rate difference between 88% and 95% for the LMI?

 

Is it for investment or owner occupier purposes?

 

Thanks for that - it's for investment purposes

 

Cba up to 95%, liberty to 99% (cap lmi). Most lenders only do 90% for investment. The lmi over 88/90% makes it a very expensive excercise. You're basically paying a dollar in lmi for each extra 10 dollars borrowed.

 

You can technically borrow up to 100% if you have other property as collateral or parent's guarantee.

It's all depending on what other resources around you available.

 

If the LMI premium at 88% is 10k then at 95% it will be circa 20k.

Investment lending is generally limited to 90% with a few exceptions at 95%.

 

So Rams is a broker or credit provider?

 

Both. They are a lender (funded by WBC) and broker.. they are far more interested in former than latter

 

Rams are a franchise credit provider. They are owned by Westpac. Some franchisee's and their staff are also accredited under Choice (Nab/Advantedge) as mortgage brokers. In reality its pretty rare for Rams people to write much business with other lenders, and usually only if the deal doesn't fit Rams policy (major credit impairements etc)