

Hi Amir, LMI is only applicable if you borrow more than 80% of the value of the property acceptable by the lender. anything above 80% is calculated on a risk factor basis, meaning, the higher the LVR the higher the LMI premiums. most lenders will cap the insurance premium to 95% LVR. for more information and other available options for you, please contact me so we can have a chat.

Good Morning Amir, Lenders Mortgage Insurance is calculated on the bank value or purchase price which ever is lower. Interesting to note depending on your profession we are able to lend up to 90% of the value Without needing to find LMI. Happy to chat further regarding this, please visit my profile and get in touch. Regards Michael

Hi Am, Both the LVR (loan to Value Ratio) & the LMI are calculated on the lower of either the contract price or the Bank Valuation. The valuation will RARELY come above contract price as valuers don't feel the need expose themselves and their PI unnecessarily Unfortunately no 'inbuilt' deposit unless the contract price has been signed more than 18-24 months ago Hope this helps

Demal
Hi Am.. the consideration of purchase price ie contract or valuated price depends on the lender. Most lenders consider on the lower of two price whilst there are very few lenders who can consider the valuated price, if it is higher. Thanks.