Borrow Up to 90% LVR with No LMI

Written By Chris Bowers

If you’ve been holding off buying or refinancing because of Lenders Mortgage Insurance (LMI), there’s good news! UBank is now offering loans up to 90% Loan-to-Value Ratio (LVR) with no LMI for both owner occupied and investment properties.

What does this mean?

Normally, if you borrow more than 80% of your property’s value, lenders will charge Lenders Mortgage Insurance (LMI) — a risk fee that protects the lender.

With UBank’s new offering, you can borrow up to 90% without paying LMI, which makes it easier to:

  • Get into the market sooner with a smaller deposit

  • Refinance your current loan and free up equity

  • Grow your investment portfolio without the added insurance cost

Who’s eligible?

UBank’s no-LMI 90% LVR loans are available for:

  • Owner-occupiers – buying or refinancing a home you live in

  • Investors – purchasing or refinancing investment properties

Applicants will still need to meet standard credit and income assessment criteria, but this is one of the most competitive no-LMI offers currently available.

If you’d like to find out whether you qualify for UBank’s 90% no-LMI home loan, get in touch with Complete Home Loans today. We’ll review your options and help you find the best solution for your low deposit loan.

Chris Bowers
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