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Borrow up to 95% without LMI in 145 Eligible Postcodes

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There is no obligation, we'll get back to you within 4 business hours.

No industry-based employment requirements

Ideal for self-employed individuals and business owners

Available for purchases, refinance and cash out

Open to owner-occupied and investment loans​

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Australia’s MPA Top 100 Mortgage Brokers

Qualifying For This Offer

To qualify for this exclusive opportunity, you need to meet the lender's three key criteria below. Our Mortgage Experts will assist you in reviewing your numbers to assess your eligibility for the 95% no LMI loan.

Security Value + Post Code Eligibility Requirements

The property(s) must serve as standard residential security and be located in one of the 145 eligible postcodes. Refer to the postcode table below for details.

Meet the Minimum and Maximum Loan Amount

Minimum borrowing amount= $2M  

Maximum borrowing amount= $4.75M

*There are 10 exceptional postcodes where maximum borrowing is at $5.7M and 6 postcodes with maximum borrowing at $7.6M.  See table below.

Meet Servicing and Lenders Risk Profile

The Lender will assess your income and credit profile to ensure that you meet their low-risk borrower profile.

Buy Your Dream Home Faster and Save Thousands on Lender Mortgage Insurance

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The table below shows your LMI savings at 95% LVR with this offer

Loan Amount
LMI Saving at 95% LVR
$2,000,000
$85,168
$2,500,000
$106,460
$3,000,000
$127,752
$3,500,000
$149,044
$4,000,000
$178,536
$4,500,000
$182,403

Eligible Post Codes

The eligible postcode list is broken into three sections. The majority of the eligible postcodes have a maximum security value of $5 million for house, duplex, and townhouse, and $4 million for apartment. Ten postcodes have a maximum security value of $6 million, and six postcodes have a security value of $8 million. 

Remember your minimum borrowing amount must be is $2 million.

NSW
2000
2038
2068
2096
2119
2158
2010
2039
2069
2097
2121
2159
2011
2040
2070
2099
2122
2178
2018
2041
2072
2100
2125
2203
2021
2045
2073
2101
2126
2219
2022
2046
2074
2102
2130
2221
2025
2047
2075
2103
2132
2224
2026
2048
2076
2104
2134
2229
2031
2049
2084
2105
2135
2230
2032
2060
2085
2106
2136
2481
2033
2061
2087
2107
2137
2515
2034
2064
2089
2111
2138
2600
2035
2065
2092
2112
2154
2063
2036
2066
2093
2113
2156
2612
2037
2067
2094
2114
2157
2748
VIC
3002
3103
3127
3146
3188
3916
3008
3104
3141
3161
3191
3929
3040
3122
3143
3184
3193
3933
3052
3123
3144
3185
3206
3943
3068
3124
3145
3187
3232
3944
3101
3126
WA
6009
6011
6012
6015
QLD
4005
4007
4155

Maximum Security Value

Maximum Loan Value

Apartments

House | Duplex | Townhouse

S4,000,000

$5,000,000

S3,800,000

$4,750,000

Maximum Security Value

Maximum Loan Value

House | Duplex | Townhouse

S6,000,000

S5,700,000

NSW
2024
2029
2063
2090
2095
2110
2028
2062
2071
VIC
3186

Maximum Security Value

Maximum Loan Value

House | Duplex | Townhouse

S8,000,000

S7,600,000

NSW
2023
2027
2030
2088
2108
VIC
3142
White Kitchen

Buy Your Dream Home Faster

  • What’s refinancing?
    Refinancing is when you take on a new home loan and use it to pay off your existing loan. There’s many reasons why people consider refinancing. One of the key reasons is to take advantage of better interest rates. With the RBA increasing rates significantly this year, many homeowners can save thousands of dollars in interest repayments when they refinance to a lower rate.
  • What are the benefits to refinancing?
    Get a more competitive interest rate. A lower interest rate can save you thousands of dollars each year. Help you consolidate debts such as credit cards, car loans, personal loans into one monthly repayment usually at a lower interest rate than you are paying. Reduce your monthly repayments Unlocking equity for other projects. This includes buying an investment property, funds to renovate your existing home, keep more cash in the bank, go on holidays etc. If you are coming off a fixed loan product, it’s best you look at refinancing to ensure you remain on a competitive rate. Changing your loan structure to suit your needs. You may want to consider fixing your home loan if you believe interest rates will continue to rise or opt to fix part of your loan and keep the other part variable. Your mortgage broker can work out the different scenarios to help you make the right decision. If you are considering refinancing, give us a call on 1300 103 998, our professional mortgage brokers will help access your situation and help you determine if refinancing is the right option for you.
  • How much does it cost to refinance my home loan?
    Refinancing does come at a cost, so it’s important to weigh up the savings you get from refinancing against the cost of refinancing. On average the cost to refinance ranges from $600-$800, depending on your existing and new lender. From time to time, lenders will run special promotions like cashback which will offset the fees associated with refinancing. Your mortgage broker will know the best deals in the market and help you negotiate harder with the lender. Here are some fees associated with refinancing. Discharge fee: An administration fee paid to your current lender to prepare the paperwork to pay out your existing loan. Application fee: Charged to set up your loan application with the new lender. Valuation fee: Your new lender may charge a fee to have your property valued by a professional property valuer. Break cost: this applies when you refinance within a fixed period of your home loan. For example, if you are on a 3 year fixed interest product and decide to refinance after the second year, your existing lender will charge you a break cost. To find out your break cost you will need to contact your existing lender for the payout figure. Lender Mortgage Insurance (LMI): One off fee only applicable if you have less than 20% equity in your property. The new lender will \ charge you LMI to protect them against mortgage default. Some of these fees can be negotiated by your mortgage broker. They have great relationships with lenders and may be able ask lenders to waive some of these fees or request special rebates to offset these fees.
  • Reasons to refinance
    1. Refinance to get a competitive interest rate. With so many lenders and thousands of mortgage loan products on the market, lenders will use interest rates with a mix of other promotional offers to attract customers. Promotional offers can include cash back, rewards points, first year promotional interest rates etc. All offers have conditions attached and the best way to find out if you are eligible is to speak to your mortgage broker who will assess your situation and identify the best offers in the market available to you. Mortgage brokers receive regular updates from lenders and stay up to date with the latest offers. 2. Consolidate Debt. If you have a number of outstanding debts including credit cards, car loan or personal loan, refinancing to consolidate your debts can save you both time and money. The way it works is your debts will be combined and rolled into your mortgage, making it easier to manage your finances. Consider these benefits Your credit card may attract an interest rate of 19%, if this is rolled into your mortgage your interest rate will be the same as your mortgage rate. If you decide to cancel your credit card once you roll over your mortgage you can be saving on associated annual card fees. The term rate for repayments of your outstanding debts will be the same as your mortgage term, thereby reducing your monthly payback portion. Instead of managing payment across different credit providers, you can combine these into one easy monthly payment. 3. Refinance to unlock equity to buy your next investment property. Our property market has seen significant growth in the past few years. If you’ve owned your home for a few years, there’s a good chance you’ve built up some reasonable equity, and this can be a great resource when it comes to using the equity from your home as a deposit for an investment property. Calculating your home equity. Your home equity is the difference between your property market value and the balance remaining on your mortgage. For example, if your home is worth $1,000,000 and you have $600,000 remaining on your home loan, your equity is $400,000. Most lenders will allow you to borrow up to 80% without incurring LMI. In the situation above the banks will lend you 80% of $1,000,000 minus your remaining home loan of $600,000. 80% of $1,000,000 is $800,000 $800,000 minus your existing home loan of $600,000 is $200,000 By refinancing your home loan you could potentially use the $200,000 equity to put towards a deposit for your investment. How much your home is worth is very much determined by the valuation of your lender, sometimes the valuation can differ significantly from one lender to another. Your mortgage broker will help you organise valuation assessments from the selected lenders and provide you the most favourable outcome
  • Would I need to pay LMI If i refinanced my home loan?
    This is dependent on your LVR ( loan to value ratio). Banks will charge you LMI if your loan is more than 80% of the value. Banks will have your property professionally valued at the time of assessment and the valuation may come in different for different lenders. If you incurred LMI when you got your first mortgage and if your property has not increased in value or if you have not paid down your mortgage it’s likely you will be charged LMI again by the new lender. Your mortgage broker will work out all the numbers and determine if refinance is the best option for you, they may suggest you wait a couple of years if your interest savings is not significant to cover the additional LMI.
  • Cash back and special rate offers when you refinance your home loan.
    From time to time, different lenders will offer incentives to attract customers to switch over to their product. These incentives can include cash back offers, which helps to offset the cost to refinance and gives you extra money in your pocket. Other promotional programs lenders will run include frequent flyer bonus points give away and competitive fixed and variable rates. Speak to us about the latest promotions in the market and see if you qualify.

Your Questions Answered

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