Posted on October 22, 2014 · Posted in Finance Blog

Just a little update that could have a significant positive impact on some borrowers. One of the major lenders has recently released a policy allowing borrowings up to 90% of the value of the property with Lenders Mortgage Insurance (LMI) waived for those employed as ACCOUNTANTS, LAWYERS, AND MINING INDUSTRY EMPLOYEES. This is in addition to the usual 90% (no LMI) offered to Doctors and other medical related professions. To qualify for this benefit the borrower must be earning a minimum of $150,000 per annum.

Normally Lenders Mortgage Insurance is charged for loans with borrowings over 80% of the value of the property. This could potentially SAVE YOU THOUSANDS.

Please contact me with any questions in regards to this or any other lending scenario. Always happy to have a chat and help where possible.

About the Author

Greg Samuel has worked in the finance industry for over 13 years. He has worked in Corporate, Commercial and Rural Banking and now uses his skills to help his clients as a finance consultant and broker.