Forums

March 24, 2003 - 2:09 pm

hi Tracey

Thanks for your help.

I’m after a low-doc loan cos I’m self employed.
Although I wish to borrow 80% LVR and I don’t pay the mortgage insurance, CommBank pay the insurance themselves without charging clients. Their issue is that Stanthorpe is not in the “postcode book” that the mortgage insurance company that CommBank use. Apparently mortgage insurers do not insure investment properties out of major cities.

cheers
dynamite

March 20, 2003 - 2:02 pm

Hi Ozbroker

Thank you for your feedback.

I had a low doc loan approved, conditional upon valuation, from CommBank but when they were organizing their valuer they called me to say they would not go ahead with the loan because Stanthorpe is not in their postcode book for mortgage insurance which they pay (and not me because the loan is under the 80% LVR).

Any further suggestions appreciated.

Cheers
Dynamite