Home Loan Variable: 5.94% (5.95%*) • Home Loan Fixed: 5.79% (6.39%*) • Fixed: 5.79% (6.39%*) • Variable: 5.94% (5.95%*) • Investment IO: 6.14% (6.58%*) • Investment PI: 5.99% (6.61%*)
PROPERTY POSTCODE RESTRICTIONS (LMI & LENDING)
Lenders assess mortgage applications differently based on the location of the property being offered as security. A lender, or the Lenders Mortgage Insurance provider, will apply more rigid lending policies in high-risk locations to limit their risk. This risk assessment often means that your maximum permissible LVR (and your borrowing amount) to be lower.
The Lender’s LMI Policy Guide may be consulted for information on what postcodes or property types might be affected, or you may use the tool below to check your postcode against the database. Keep in mind that not all localities within each postcode is affected, and nor is each property type.
The most common limitation that applies in areas where a postcode is considered risky is the maximum LVR may be reduced to 80%. You can read more about LMI in our LMI FAQ.
If you would like to have a discussion, please call us anytime on 0422 438 6341.
RELATED FAQS:
A Risk Fee is a once-off charge payable by you when the amount of money you borrow for the purchase of a home or asset if higher than that lender’s acceptable LVR. For a home loan, this is usually 80% of the value of the home (80% LVR) …
Most lenders have moved away from the no-deposit home loan, although there are a few products available with very strict criteria. Excluding the no-deposit opportunities made available to the medial industry and other …
When you apply for a home loan, a lender will take a large number of factors into consideration when deciding whether or not to approve your application. The Serviceability assessment determines if you can comfortably “service” the loan repayments after considering all of your …
SHARE THIS FAQ
❯ Home Loans ❯ Car & Equipment Finance ❯ Mortgage Calculators ❯ FAQ ❯ Resources ❯ Education ❯ Insurance ❯ Real Estate ❯ Business ❯ Review Bank Products ❯ Search BSB Numbers ❯ Social Media Archive ❯ Video Archive ❯ Downloads ❯ About Us ❯ Finance Team
The comparison rate is calculated on a secured loan of $150,000 with a term of 25 years with monthly principal and interest payments. WARNING: This comparison rate is true only for examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Important Information: Applications are subject to credit approval. Full terms and conditions will be included in our loan offer. Fees and charges are payable. Interest rates are subject to change. Offer does not apply to internal refinances and is not transferable between loans. As this advice has been prepared without considering your objectives, financial situation or needs, you should consider its appropriateness to your circumstances before acting on the advice.
© LOAN SAFARI ABN 94 143 496 100 ACL 384704 | PRIVACY • TERMS • DISCLAIMER