Medium voltage power lines and LMI

Discussion in 'Loans & Mortgage Brokers' started by AdelaideLong87, 23rd Mar, 2021.

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  1. AdelaideLong87

    AdelaideLong87 New Member

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    Hi all,
    A property I am buying is directly under 11kv stobie pole, literally the pole is right next to the corner property. As the house is on a medium main road, there is a big stobie,11kV 3 upper conductors with 415 V powerlines (lower four conductors). *attached picture.

    My LVR is 95%, As I understand properties near high voltage power lines will be knocked back for LMI, does any one know if mine will be?
    Thank you
     

    Attached Files:

    Elives likes this.
  2. The Y-man

    The Y-man Moderator Staff Member

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    Won't be an issue. Has to get to 300kv before any issue as far as the market is concerned IMHO

    The Y-man
     
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  3. Peter_Tersteeg

    Peter_Tersteeg Mortgage Broker Business Member

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    With a 95% LVR, they'll look for ways to decline the application, but I doubt the power lines will be the reason.
     
  4. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    May I ask did you get any rating 5s on your valuation report ?

    If yes then it might be a problem since its an LMI deal.

    But if no and your servicing is good then I wouldn't worry too much.
     
  5. AdelaideLong87

    AdelaideLong87 New Member

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    I havent received the valuation report but it should occur shortly, can you give me the instances of a rating 5 in a valuation report? examples?
     
  6. Tony Xia

    Tony Xia Structured Loan Advisor Business Member

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    Powerlines running across his back yard (8000sqm) and got an rating 5 for environmental issues .

    Bank would only do it at 80%.