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