St George Bank’s first home buyer LMI offer is pretty exciting, your lenders mortgage insurance costs could get discounted to $1 if you meet the criteria.
**In the video we say LMI is waived, to clarify the LMI is DISCOUNTED to $1 so you still need to meet the banks lending criteria as we explain in the video. For more info and to see if you qualify hit us up https://www.huntergalloway.com.au/
For more info https://www.huntergalloway.com.au/ and https://www.huntergalloway.com.au/mortgage-broker-brisbane/ and https://www.stgeorge.com.au/brokers/firsthome
Check out our St George bank review https://www.youtube.com/watch?v=VKJ5HY7lwxw
00:00 First Home Buyer LMI Offer [Pay $1 for Lenders Mortgage Insurance]
00:50 What is the lenders mortgage insurance discount offer?
02:30 Who is not eligible for the offer
04:00 What does LMI normally cost with a 15% deposit?
05:20 How to get access to the LMI discount offer
For home loan enquiries
Find Jayden here:
T: 1300 088 065
Mortgage Broker Brisbane – Hunter Galloway
Head Office: 3 Latrobe Tce Paddington QLD 4064
PO Box 841, Paddington QLD 4064
CBD Office: Level 20, 300 Queen Street Brisbane, QLD 4000
Hunter Galloway are an Award Winning Mortgage Broker based in Brisbane. We help clients from our local area, Australia, and all over the world. We believe buying a home should be stress-free and uncomplicated, and we will work for you to make your dreams become reality.
What is the eligibility criteria?
Applications must be for a first home loan for a first property (for joint applications, only one applicant must be a first home buyer).
Loans with LVR# up to 85% at the time of formal approval.
Owner Occupier with Principal & Interest repayment only.
A maximum loan size of $850,000.
Available for applications submitted from Monday 13 July 2020.
Only one property to be financed per application.
What loans are not eligible?
Owner Occupier with Interest Only repayments.
All Residential Investment Home Loans.
Offer not available in conjunction with the Family Pledge option.
Residential lending originated under family or company trusts.
Switches and internal refinances of home loans within the Westpac Group which include St.George, Bank of Melbourne, Westpac, BankSA and RAMS.
Other terms & conditions
The First Home Buyer LMI Offer is available on eligible home loan applications from Monday 13 July 2020 and the offer can be withdrawn or varied at any time.
LMI of $1.00 will be incurred. Clients must adhere to LMI obligations during the loan agreement.
^ First Home Buyer LMI Offer: Available for First Home Buyers who apply for their first home loan for their first property with loan to value ratio (LVR) up to 85% at time of formal approval. For joint applications, only one applicant must be a first home buyer. Owner Occupier Principal and Interest repayments only. Maximum loan size of $850k. Offer current as of 13 July 2020 and can be varied or withdrawn at any time. Only one property to be financed per application. Excludes Residential Investment Loans, Portfolio Loans, Constructions Loans, switches and refinances of home loans within the Westpac Group which includes St.George, Westpac, Bank of Melbourne, BankSA and RAMS. Offer not available for Owner Occupier Interest Only loans or residential lending originated under family or company trusts. Offer not available in conjunction with the Family Pledge option. Lenders Mortgage Insurance fee will be paid on behalf of eligible customers with a $1.00 fee applicable for initiation of policy. Your clients’ application will be assessed and once approved, your client will be charged LMI of $1.00. This will be reflected within the Loan Offer Documents. LMI subject to approval and customer must adhere to LMI obligations during the loan agreement. This offer is not an LMI wavier. Lenders mortgage insurance (LMI) is issued to Westpac Banking Corporation ABN 33 007 457 141 (Westpac) by either Westpac Lenders Mortgage Insurance Limited ABN 60 074 042 934, Australian credit licence 388077 a subsidiary of Westpac, or by another LMI insurer. This information does not take into account your personal circumstances. Terms, conditions and limitations apply.
# LVR stands for the initial loan to value ratio at loan approval. LVR is the amount of your loan compared to the Bank’s valuation of your property offered to secure your loan expressed as a percentage.