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Howdy
Heard a rumour that Banks are tightening up on 95% lends again?
Looking at one with combank?
Can any brokers confirm?
Yes that is true. One bank however has eased up slightly. Macquarie now allow 95% lends for investment properties where previously it was only owner occ.
some others that used to allow LMI on top of 95% no longer do.
Trying for a 91.5% lend with combank.(loan topup to 80% to use for next purchase)
Serviceability is ok-good, equity is qood with same bank, credit score is good.
Should be interesting.
Yep the lenders that were famous for their high LVR loans ( > 95%) are now scaling back to balance their books- Ie Bankwest, Suncorp and ABL
So who do you go to now for a 95er?
So who do you go to now for a 95er?
Is there anybody out there still doing 95% + LMI for IP?
should be fine as long as total LMI exp is less than a mill, and you have 10 % equity all round
ta
rolf
closer to 91.80%, passed the mill mark with this one, 20%,10% equity.
893 Credit score.
Have the funds to bring it down to 90% but why put this into the loan if not required.
How relevant are the scores these days? Word on the street is that not all banks using the scoring.
closer to 91.80%, passed the mill mark with this one, 20%,10% equity.
893 Credit score.
Have the funds to bring it down to 90% but why put this into the loan if not required.
.
Only pre-approval at this stage, should it fail we just bring it below 90%
Should it succeed then I have additional funds to use for renovation.
Will be interesting either way
Is there anybody out there still doing 95% + LMI for IP?