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ah ok, got it. Total project LVR would be sub 90% anyway, it's just the initial land purchase that will be 95%, then with the sale of current PPOR we'd free up a heap of spare cash to bring the overall LVR right down when we add the construction to the loan. sub 90% LVR assumes the bank...

Shahin - Spoke to a lending manager at RAMS and LMI on the land would be about $13k, so slightly cheaper than BW by $2k. They'll also cap LMI at a 95% lend with the low rate (4.5%) Tobe - we can't do the land and construction in one (I think) as this isn't a house and land package. We'll be...

Sorry my mistake. I was looking at the low rate home loan with 4.5% interest but max LVR is 95%. for the 98.5% LVR loan rate goes up to 5.4%. everything else remains.

Thanks Shahin Just had a look online and their rates are 4.5% (slightly better than 4.52% @ BW) and allow 100% offset, no application fees (special til 31 Aug) and no monthly fees. Couldn't find any info on their 'risk fee'/LMI though to get an idea of what the $ look like there? Have you...

what's the catch? and what are we talking in terms of 'cheap as chips' LMI? :) No x-coll on any loans, all separate equity and home loans secured against individual properties.

Thanks Jess. How harsh will their scoring be? i.e. are we talking strong chance of having the loan app knocked back? or moreso the broker has his work cut out for him? I think we have strong serviceability and job stability. BW recently (Feb 2015) re-valued all 3 properties and based on that...

Sorry some more info combined income - $250k plus bonuses PPOR debt - $372k plus ~$90k in equity loans for 2 IP's. total $462k PPOR bank val - $560k (agent appraisal high 5's) 2 other IP's - debt - $760k bank val - $870k Credit card - $15k All loans are with BW at the moment and with...

A question for the many experienced brokers on here. Partner and I are looking to purchase a block of land inner city for $450k max, ideally with a 95% plus capped LMI (as we only have $45k cash available for the deposit), and then selling our current PPOR to build on the block to become the new...