I ended up going direct with ING on this $1 LMI offer as it timed in perfectly when we went to auction. LVR of 89.9% (borrowing $560k), all confirmed and ready to settle next week on our first home PPOR. 4.89% variable which I'm pretty happy with. This all happened very quickly in a very hectic December, so I opted against going to a broker as the $1 promo was on offer.
Out of interest sake, I'm also a chartered accountant working in industry, and my spouse is a primary teacher. Is there much better that could be done in terms of rate/no lmi loans as an accountant?
From what I can read, the income threshold they like to see met is $150k/yr... I'm not there, but wouldn't be far off. Is a no LMI loan a possibility?