Loan To Value Ratio’s (LVR’s), Mortgage Insurance and Minimum Deposits – Are all banks the same?
Answer: NO I had a lovely young couple come to see me that had a deposit of $40,000. They had found their perfect property for $400,000. Unfortunately, they banked with Bank A, so went to see them in the branch. Excited and nervous, they spoke to bank manager but were declined as they didn’t lend above an LVR of 90% so were unable to cover the mortgage insurance. Disheartened at the thought of continuing to rent and save they came and saw me. You can quickly see from the grap