ANZ joins the Medico LMI Waiver Party

[Mick C]

No.

Regards

 

[Aaron_C]

Does NAB do 90-100% LVR on commercial property (medical)?

In your dreams

 

[WilliamB]

I would like to thank you Jon for helping me out here mate. Jon graciously gave at least half an hour of his time dealing with my private messages and on the phone and the end result was he was correct about using trusts and 90% no LMI for St George. As a result, I avoided having to sell 50k worth of shares at a bit loss to allow me to expand my portfolio

Unfortunately I am 75% of the way through the process of a couple of loan applications, otherwise I would be speaking to him.

Jon, again, thanks mate.

Cheers,

You are allowed to have it in a trust name.

"This policy is available for application submitted for credit in the individual applicant(s) own name, or
related company or trust entities, provided direct ownership and/or directorship by the applicant(s) is
evident"

 

[Serenas]

From what I understand with St George however, they only allow the 90% no LMI if the purchase is in individual name, NOT purchasing through Trust, even if sole trustee satisfies all the criteria.

This ishappened to us with our last loan through a St George Flame Broker. I was all excited as they said "yer 90% no LMI", but then came back and said must be in individual name, can't be Trust. I was enormously disappointed and its absolutely ridiculous anyway.

Disappointing stuff. Appears that isn't the case with the medico thing with ANZ.

ARe you medical professionals William? My husband is in IT with long employment history and steady growth of salary each year, and I wonder if they would do 90% and no LMI?

 

[WilliamB]

Hi Serenas, I'm a beancounter, which is why I was so excited with St George 90% no LMI!!!

 

[jonmardell]

ARe you medical professionals William? My husband is in IT with long employment history and steady growth of salary each year, and I wonder if they would do 90% and no LMI?

Hi Serenas, the St George policy is not available for IT professionals. I am not aware of any lenders that would consider this.

 

[Shahin_Afarin]

Thought I just update this thread rather than create a new one - we are doing
LMI waivers to 90% for sports and entertainment customers via Westpac.

With the sports side you need to have been a player or an ex player and with the entertainment side its a bit of a wide range so could be an actor, singer or manager that works in an entertainment based company.

Not sure how many Ian Thorpes we have on the forum but thought it may be good to add to the list of professions eligible for the LMI waiver.

 

[DaveM]

Thought I just update this thread rather than create a new one - we are doing
LMI waivers to 90% for sports and entertainment customers via Westpac.

With the sports side you need to have been a player or an ex player and with the entertainment side its a bit of a wide range so could be an actor, singer or manager that works in an entertainment based company.

Not sure how many Ian Thorpes we have on the forum but thought it may be good to add to the list of professions eligible for the LMI waiver.

I can urinate in my own mouth does that count?

 

[D.T.]

I can urinate in my own mouth does that count?

http://files.sharenator.com/memes_bear_grylls_the_real_pro-s448x301-156085-580.jpg