Does westpac still do 85% w/out LMI

[eggnog]

Does westpac allow the establishment of a LOC at 85% LVR without going into LMI or have they droped it to 80% now.

 

[Spectre]

Met with westpac yesterday to discuss a few matters... will do 85% still

 

[Rolf Schaefer]

In short, yes this is still available.

 

[eggnog]

thanks guys. thats great news for me

Do you know if they are going to scale it back to 80% anytime soon and is there a minimum growth in a property required to establish a LOC or a minimum LOC ammount required before they will establish one.

 

[Nth Brisbanite]

Met with westpac yesterday to discuss a few matters... will do 85% still

Is that only full docs or is lo doc available? What are rates, LMI, etc?

 

[Qlds007]

NB no the product is a full doc loan only.

 

[LearningMan]

Yep - recently received 85% no LMI from WBC. You just need to push, push, push ...

 

[Mamaof3]

we've been able to get max 82%LVR through westpac on a lodoc but there is MI which kicks in after 60%lvr i think.

 

[Peter_Tersteeg]

we've been able to get max 82%LVR through westpac on a lodoc but there is MI which kicks in after 60%lvr i think.

Most lo doc loans have LMI kick in from 60% LVR. Westpac will lend to 80% on a lo doc and the other 2% covers the LMI, to a total loan of 82%.