can anyone tell me whether with a 20% deposit i am guaranteed to be able to get finance without mortgage insurance, i have heard in some areas banks will not loan more than 70% of property. Also what other options are there besides banks and are they better , worse, why ?
If you have a 20% deposit and suffiecient income to service the debt than I would be surprised if you couln’t get an 80% lend with no LMI.
There are lenders who are not too concerned as to postcode if everything else stacks up – at normal rates too.
Good luck,
Simon Macks
Mortgage Hunter
[email protected]
0425 228 985Comments may not be relevant to individual circumstances. If you intend making any investment, financial or taxation decision you should consult a professional adviser.
MOtgage Ins is very troublesome to take up, they will dictate to your lender which and which are u can take up the insurance, and the lender has to listen to them,
And since they have the final say, they can also change their mind on the last minute before you need your finance approved. Happened to some people before.
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