Yes for customers that are in an excellent financial position it is no problem however many of the people that need 95% just don't meet the guidelines. Here in Sydney as well any properties in the Western Suburbs at 95% have to have customers that can walk on water! Genworth in particular is really conservative with the West due to a high level of…[Read more]

If you have been in your job for 2 years, your savings is "genuine savings" (i.e. you saved it yourself) and the property you are buying is in a major area then you may be able to borrow 85% with only $699 in LMI. This is a special deal offered by one of the lenders who specifically targets stable customers. If you do this type of loan you can…[Read more]

Very tough to get approval for it though!

If you are borrowing 80% or less then they are relatively flexible. Above 80% as with many (but not all) other lenders the LMI providers make the rules.  Their customer service is excellent, their turnaround times are better than the majors and the offset account on their basic loans is excellent. Their interest rates are not market leading…[Read more]

Hi Rafael,Depending on the lender it could be done in one of two ways.1st method: There would be a loan just in your name for $320,000 and a 2nd loan for $40,000 in your name that is guaranteed by your family using a mortgage on their property.  This method allows you to make repayments to the guaranteed portion first and keep better track of how…[Read more]