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Y33 - We deal with CBA Darwin. If they were to under value by 20% we certainly wouldn't accept this without a fight. Rolf - Can you send me a Darwin broker referral? Cheers

Cheers for that. How easy is it to have a broker work for you from interstate? I have heard some horror stories about some brokers in Darwin.

When we purchased the property we were at 95% lvr. With the increase in value we are now sitting at 80% lvr. So you don't think the banks would allow us to withdraw the equity to purchase another property to take it back up to 95%? Is that what you mean? Just thought i would mention, we have...

Yeah I am hoping that is the case seeing as the LMI was over $7000. With car insurance or contents if you no longer require it they will refund on a pro rata of what is remaining. It would seem crazy that we purchase lmi for the life of the loan (30 years) only to refinance after one year and...

Thanks for your reply Propertunity. Yeah equity is just from the increase of value, we have off-set account but not alot in there at the moment.

Great thanks for your help! Just one more questions, when we purchased our current property we used lenders mortage insurance with a lvr of 95%, we are now sitting around 80%. So when we refinance and bring the lvr back up to 95-97% do we have to pay LMI again? Cheers

Using equity to buy property Hello I am just after some advice regarding our situation. I am very new at this and am not sure how it all works. We purchased our first property off the plan as first home buyers which settled August 2009. We have set the loan up as interest only from the...