ANZ have cheaper LMI for me so should I go with them?

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: ANZ have cheaper LMI for me so should I go with them?

Post by Otto Dargan »

Hi mixtape,

ANZ Bank uses ANZ LMI, their own in house mortgage insurer and the underwriter for all of their home loans that are mortgage insured. ANZ LMI works exclusively with ANZ so you won’t be able to access them unless you apply for a mortgage through ANZ.

ANZ Bank does offer cheaper premiums for some loan sizes and they approve applications with basic documents, with often just one payslip required. They also rely simply on one year’s tax returns to approve self-employed applications, but they may not accept add-backs.

Also, if you're a new borrower with ANZ Bank or you're an investor, then you will generally be limited to borrowing up to 90% of the property value.

You can check out our website for more info regarding all this including an expert's review on ANZ Bank. You can also discuss your situation and loan needs with one of our expert mortgage brokers on 1300 889 743 or simply complete our online enquiry form.

Cheers,
Otto
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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