NAB and LMI...

[kaiseriqbal]

Rolf,

Thanks for your help.

What I was looking at doing was refinancing my current IP, which is only valued at $178,000, with a current loan balance of $117,500.

I was looking at getting the maximum amount of equity for the next purchase.

I guess with such a small loan amount even at 90 or 95% LVR, that the Bankwest Select Home Loan will be best as I will not be eligible for the 6.80% offer.

Thanks heaps,

Mohammad

 

[Rolf Latham]

U might have some other issues

if the locn of the property isnt in an acceptable locn, QBE might not like it in which case you may be better served with a lender that isnt overly fussed about locn, and do 90 + lmi and a 95 + lmi purchase.


ta
rolf

 

[neil100]

Rolf,

Are any of the major lenders likely to offer no LMI up to 85% if you are refinancing with them, and have a track record with them? I'm thinking particulalry about BankWest.

Thanks
Neil

 

[Rolf Latham]

Rolf,

Are any of the major lenders likely to offer no LMI up to 85% if you are refinancing with them, and have a track record with them? I'm thinking particulalry about BankWest.

Thanks
Neil

WBC with their new ( Lazarus) policy pretty much easy, Citi maybe dunno.

I have recently tried CBA even with an 85 % er to get a purchase waiver with no go.

Understand that a non insured plus 80 deal COSTS the lender in increased capital reserve.............so if you are also chasing rate etc, its not going to happen in most cases.

In addition, when things get sticky for you in some way in the future, you want to be within the policy guardrails, not outside them

ta
rolf

 

[neil100]

WBC with their new ( Lazarus) policy pretty much easy, Citi maybe dunno.

I have recently tried CBA even with an 85 % er to get a purchase waiver with no go.

Understand that a non insured plus 80 deal COSTS the lender in increased capital reserve.............so if you are also chasing rate etc, its not going to happen in most cases.

In addition, when things get sticky for you in some way in the future, you want to be within the policy guardrails, not outside them

ta
rolf

thanks Rolf