Hi All,
Here is my scenario:
Investment Property
Loan amount: $600K (87% LVR when the mortgage was taken, so LMI included), lender bankwest
Rpdata estimate: $860,000 (range $800K to $950K) wth confidence level low - (too optimistic to my view. A 4x2 house of the same block size and similar age on the same street was sold for $820K few weeks ago. Mine is 5x2, duplex).
Assuming $800K as conservative market value, my accessible equity shows 40K at 80% LVR. My question is:
1. Is there any way to further increase my accessible equity, e.g., LMI etc?
2. Who should I approach first (bank or brokers) for the most realistic figure because it involves valuation?
Thanks in Advance
Sarah
Here is my scenario:
Investment Property
Loan amount: $600K (87% LVR when the mortgage was taken, so LMI included), lender bankwest
Rpdata estimate: $860,000 (range $800K to $950K) wth confidence level low - (too optimistic to my view. A 4x2 house of the same block size and similar age on the same street was sold for $820K few weeks ago. Mine is 5x2, duplex).
Assuming $800K as conservative market value, my accessible equity shows 40K at 80% LVR. My question is:
1. Is there any way to further increase my accessible equity, e.g., LMI etc?
2. Who should I approach first (bank or brokers) for the most realistic figure because it involves valuation?
Thanks in Advance
Sarah