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From: Iris H
Hi all,
I am about to refinance my 2 IP and was told that the banks like one to have mortgage insurance even if the LVR is under 80 % . This would enable me to get more finance approved in the future to buy further IP.
As this is not a small cost I am asking myself whether it is advisable to do so.
Is it possible to get mortgage insurance at a later stage if I'm having trouble to get further financing for the next IP's?
Has anyone had the experience that banks didn't want to finance because the applicant didn't have mortgage insurance for their other IP's?
Any advice greatly appreciated, Iris
Hi all,
I am about to refinance my 2 IP and was told that the banks like one to have mortgage insurance even if the LVR is under 80 % . This would enable me to get more finance approved in the future to buy further IP.
As this is not a small cost I am asking myself whether it is advisable to do so.
Is it possible to get mortgage insurance at a later stage if I'm having trouble to get further financing for the next IP's?
Has anyone had the experience that banks didn't want to finance because the applicant didn't have mortgage insurance for their other IP's?
Any advice greatly appreciated, Iris
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