person img
verified icon broker img

Matthew

2 months ago

Hi Nate, given your profession, we should have no problems in waiving the LMI, However, given the LVR is 90% I think you will find most lenders will be reluctant to offer you an I/O loan until such time the LVR is 80% or below, especially in the current market where property prices are generally dipping. Feel free to click on my profile and discuss. There are some great P & I options at the moment, and we can always set some stepping stones in place to look t reduce the principal in a timely fashion and get that LVR down to 80%. Cheers Matt.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Milan

2 months ago

Hi Nate, happy to help but you may need to inquire within a profile. Please feel free to click on my profile and I will be happy to look through some very competitive offers. That is Medico, no LMI and competitive rates. Sounds like you've done some background research but I'm still happy to help. Best wishes, Milan

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Scott

2 months ago

Hi Nate, Depending on your profession within the Medico sector will determine which lenders will include you in their Medico policy. Are you interested in fixed or variable rate? Do you have any other lending needs? E.g. owner occupied loans or any lending for your Practice? These factors can also influence the rates you receive. As a ballpark, you would be looking in the low to mid 4% mark. The 80% LVR will generally make a difference that could be around 0.30-0.50% cheaper, depending on product type and lender. If you would like to provide some more detail, I can provide you with a more accurate indication.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Glenn

2 months ago

Hi Nate, I hope you're well and thanks for your questions? If the LVR is at 80% at interest only, you will have other lenders apart from the majors who provide the Medico products with No LMI. Interest only lending can depend on a discount request submitted to a lender at 90% LVR on a Medico Product and can range from high 3% range all the way up over 5%? The best thing to do is to get in contact through one of the broker profiles like my own for one of us to explore your options and to have a full understanding of your situation instead of providing ball park figures or answers that may not relate to your situation and the best way is to contact an experienced broker on HashChing like myself to assist and give you clear answers, options and products? Kindest Regards. Glenn

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel
verified icon broker img

Martin

2 months ago

Hi Nate, As a general rule only the big 4 will waive LMI under the medico package. There are some offers from the big 4 at around 4.34% an 80% LVR would open up more options and perhaps a lower rate.

Report this reply as inappropriate:
Reason is required Message is required   or  Cancel

New home loans from 3.49%

Find out more