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HashChing is Australia’s first online marketplace allowing consumers to access great home loan deals without having to shop around. Completely FREE to consumers, HashChing connects you directly to verified mortgage brokers who can further negotiate a better rate from the lenders and save you time, hassle and money.

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Daniel

1 year ago

Hi Sue. Besides the 10% deposit there is also Stamp Duty and conveyancing costs. Consider a personal loan for the balance of settlement required and repay it when funds are available. That way you can avoid LMI. Regards. Daniel

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Evelyn

1 year ago

Hi Sue. As my colleagues have mentioned, there are some professions that allow you to borrow up to 90% without paying Lenders Mortgage Insurance. However, it is important to start the process as soon as possible due to the short timeframe to land settlement. I am happy to explain the features and benefits of offset to you. Please give me a call if you would like to discuss further (I am available today). I look forward to hearing from you and helping you secure a loan quickly with low insurance if applicable. Kind Regards, Evelyn.

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Suresh

1 year ago

Hi! Sue Appreciate your enquiry through HashChing, along with the upfront information provided around your fund situation. To organise land settlement due in mid May although it is tight as your Conveyancing & the bank need a minimum of 7 days to book settlement but this can be mitigated if you are able to meet up at the earliest. As it is important for to understand your line of work, income & other related matters as you have 10% deposit to work with to evaluate if you are entitled for 90% lend with no LMI, As your Broker I will be representing you to the bank, hence it is important for me to provide you with all the information and insight in to the loan for both land & construction that will enable you make a knowledgeable decision. Do make a time to call me at your earliest so that we can get the ball rolling. Have a good Anzac Day, Regards Suresh

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david

1 year ago

Hi Sue. It is hard to avoid LMI if you are borrowing more than 80% of the purchase price. There are a couple of ways of avoiding LMI. Getting an offset account is not an issue; most lenders offer one. I have some lenders offering great deals for 90% loans if you need such a high LVR. Look forward to hearing from you. Regards, David

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LEE

1 year ago

Hi Sue. Is the loan just going to be in your name? If so, what do you do for work? Some professions can avoid lenders mortgage insurance up to a 90% loan. Failing that, I can still assist with offset accounts and will be able to find you an awesome outcome keeping the insurance fee as low as i possibly can.

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