Browse Forums Home Finance Re: 85% LVR Construction Loans 3Mar 26, 2009 5:46 pm newone Signing up for a block of land and building contract... I have 20% deposit, but would like to keep 5% up my sleeve if possible! Are there any lenders out there still doing 85% LVR with no LMI? Thanks! Thanks for PM'ing me on this. I hope it helps newone. Just to add, LMI cost at 85% is negligible anyway. Re: 85% LVR Construction Loans 4Mar 26, 2009 10:04 pm Forgive my ignorance, why is having 5% up your sleeve maybe a good thing? Re: 85% LVR Construction Loans 5Mar 27, 2009 8:19 am HomeImprovement Forgive my ignorance, why is having 5% up your sleeve maybe a good thing? Well my thinking was, if i put in the full 20% at settlement, then that is tied up in the loan, i can't get it back at all without refinancing etc.. If i hold onto 5%, i can then pay that into the loan after settlement and be able to redraw it if necessary. So if i can get away with 85%, no LMI, then there is hardly any difference in costs between the 85% and 80% loan, other than the fact i have the 5% cash i can use in the future if necessary.. We are about to commence a new build I and Iām reading about defects along the way. My question is should we employ a independent building inspector to come in and… 0 5199 Can you give advice on how to get missing certificates needed for a form 21? Our bank requires us to provide one but we are missing 4 building certificates from our first… 3 71737 DIY, Home Maintenance & Repair That laser level looks lovely! We bought one for less than a quarter of that price off eBay. It worked really well for us and it's still going now, five years later. After… 1 16704 |