Loan To Value Ratio – limited at 80%?

Hello Everyone,

I am fairly new to property investing. I came to Australia as an international student and am now settled here. My parents had bought an apartment here (St Lucia, Brisbane). In November last year I bought an investment property, however at 22 as I didnt have a very huge cash reserve, and so instead used the equity in my parents property to obtain 100% finance.

I have been planning to buy another investment property, however am currently limited by my current LVR which is at approximately 76%. I was wondering if there are any back doors into getting the bank to finance a further loan. I did contact a few mortgage brokers, and they including the home loan manager at the bank I bank with (Westpac) said that Mortgage Insurance would be required to go upto 95%.

So my question here is how do I go about obtaining finance to take my LVR to 90% or higher without mortgage insurance? or is it not possible?

Thankyou.