One major lender has recently announced that they will be extending a special offer for new and refinancing owner-occupier loans. The lender is offering to pay the Lenders Mortgage Insurance Premium (LMI) on the customer’s behalf for Loan to Value Ratio’s (LVR) up to 85%.
Customers will pay no Lenders Mortgage Insurance for new owner occupied lending, saving customers thousands of dollars.
This special offer will apply to customers who may have not saved the full 20% deposit necessary to purchase a property without the need to pay LMI or, if you are reviewing your home loan and think you may have to pay LMI then you have the flexibility to refinance at 85% LVR with no LMI.
As always, conditions apply and the offer is for a limited time only, so get in touch with your Launch Finance Broker to find out more.