If they paid it as a regular part of the weekly or monthly amount yes it could work but if it's a separate amount paid sporadically then no.
I also think some states don't allow it either.
With the same lender usually only if there is a new loan account number created. This could be the result of internally refinancing such as splitting a loan into part variable part fixed. Or the lender directly increasing the loan and changing the loan account that way.
It's not meant to...
1) Many lenders ie nab, Macquarie, firstmac have a hard lvr cap at
90% so 88% + lmi will generally keep you under that.
2) lmi is considerably cheaper at 88% than 90%. Often a $3-4k saving on average size loan.
3) some lenders price better if lvr is under 90%.
You are taking about becoming a lender and the markets would want the loans all nicely packaged up BEFORE offering the funding wouldn't they. I'm not sure I can see a way to do that considering all your clients would be with different lenders etc etc etc. You would need serious volume too.
This means virtually nothing. I'm always astounded by the comments bankers make to clients and how people react to them.
You generally service or you don't and past repayment history really has nothing to do with affordability of a proposed new loan. It's a character trait similar to how...
I was referring to an example where the mortgagee tried to take possession of a property and the non defaulting guarantor objected. Regardless best a place to avoid.
If you read the loan offers fully they all say they can change anything about your loan without your consent. So really you are going off trust and the fact that there is competition for your business. Problem is what happens in a really bad downturn.
With Westpac group now using the new player it makes for a perfect storm for them. Jacking up premiums by 100% since 2008 was plain old profiteering and collusion so maybe they are getting what they deserve.