Australia's 86 400 introduces 85% LVR loans with no LMI

For loans under this new tier, homebuyers can borrow with as little as 15% deposit. Typically, borrowers have to pay LMI if they have a deposit below 20%, which can add thousands to the upfront costs of purchasing a property. The cost of LMI usually depends on factors including the loan size, mortgage type, and the amount of the deposit.

The new 85% tier will be available under these 86 400 products:

  • Own variable-rate home loan;

  • Own fixed-rate home loan (1-, 2-, 3-, and 5-year terms);

  • Neat variable-rate home loan.

The interest rate for the 85% LVR loans starts at 2.04% (2.96% p.a. comparison rate) for a one-year fixed rate under the ‘Own’ home loan and at 2.54% p.a. (2.55% p.a. comparison rate) for the ‘Neat’ home loan.

the paypers logo

The Paypers is the Netherlands-based leading independent source of news and intelligence for professional in the global payment community.

 

The Paypers provides a wide range of news and analysis products aimed at keeping the ecommerce, fintech, and payment professionals informed about the latest developments in the industry.

 



No part of this site can be reproduced without explicit permission of The Paypers (v2.7).

Privacy Policy / Cookie Statement 

Copyright