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yes, it does apply to you, as its your PPOR, its a purchase, and you are going to pay P&I. Its a little more deposit than that though, as you also need to contribute stamp duty and other costs. variable rate 4.95%, howeve you can have a fixed rate portion as well, where the rates are a little...

Most mortgage documents ask you to let the lender know of any change to your circumstances, so the onus is on the client to tell the lender they are renting out the property. I doubt that would trigger ING to bill the client for the LMI, but who knows.

no, yes, and yes.

most FHB I see come to me asking for how much they can borrow, and then how much deposit they need. Then they come back after doing the rest of their saving/hitting up Mum and Dad, selling something etc. Less than 10% of the FHB I see have more than the minimum deposit, and thats usually...

Nobody knows. The reserve bank cant even estimate the proportion of investors v O/O loans. In vocitoria they could ask the SRO how many FHB discount forms they are receiving, but this only relates to purchases below $600,000. not sure how it might be collated elsewhere. Across my desk its...

Refinancing is not eligible. I see a niche for upgraders though. A lot of FHBs (that I see anyway) dont have the 15% or so required for an 88% lend.