Hi All
Just wondering if financial institutions waive off -LMI on a 90% LVR for a vacant block? Looking to buy a vacant block and leave it for a while until the building industry settles a bit.
Thanks
No LMI on 90% LVR for a Vacant Block
mkh1991 on 25/02/2022 - 17:28
Comments
Surprised they have it blanket for pharmacists, I know many who don't actually get paid that much unless they either own the pharmacy or work at a hospital.
Financial institution of Mum & Dad will usually waive LMI if you do the dishes
Ask a dumb question and you get an equivalent answer
Looking to buy a vacant block and leave it for a while until the building industry settles a bit.
Usually for home loans , bank would require you to build a house. You will not be able to leave it vacant without a plan to build.
Not a fan of WBC but they have a "Medico Policy"
Your medico clients could borrow up to 90% LVR with no LMI. Max loan amount $5m ($7.5m total lending with LVR greater than 80%) Conditions Apply.
No minimum income requirement for below professions:
• General Practitioners
• Hospital-employed Doctors (Intern, Resident, Registrar, Staff Specialist)
• Medical Specialists
• Dentists
• Veterinary Practitioners
• Optometrists
• Pharmacists
Income requirement for below professions:
• Chiropractors and Physiotherapists