RAMS Cash Out Policy on IP?

Hey Brokers,
Anyone familiar with RAMS cash out policy at 95%?
A friend of mine purchased an IP with RAMS around 4 years ago at 95% and paid the hefty LMI costs.
Keen to utilise this again and pay the adjustment but with changes to the lending landscape this may be quiet difficult I am guessing.
 
Why do a cash out at 95% when there is little cash and a lot of LMI in that pie?

It was my understanding that if you had already paid LMI at 95% then there would be an adjustment of say a few thousand to utilise at that again.

On a 400k loan that extra 5% allows you to access an additional 20k of equity. Appreciate if the LMI adjustment is going to be hefty then it's not worth it but again I thought it would not be if already paid.
 
You're bang on will receive credits for the LMI already paid. Issue will be how the application is submitted. Cash out @ 95% can be a tough gig :(
 
cash out limited to 90% including LMI, or without cash out up to 95% plus LMI 'dollar for dollar' refinancing.
 
rams has always added a small buffer. While they have increased their serviceability rate, they haven't yet changed the way they assess OFI debt.
 
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