Lenders loan limits - what is LVR?

Lenders use a term called LVR – loan to value ratio – which represents your loan as a percentage of the security property value. We’re usually familiar with the rule that a 20% deposit (or an 80% loan) is preferred – there’s a nice buffer in there for the bank should anything go wrong – and – in most cases under 80% we don’t have to ‘mortgage insure’ the loans. Remember mortgage insurance is a policy that is taken out by the lender to protect THEM if you are unable to make your repayments, even though you pay for the insurance. Most lenders will still lend you up to 90 – 95% of the value of most securities (with a hefty mortgage insurance premium). But there are instances when they won’t, fo

I will review all of my financial accounts - say it like a mantra....

Mortgage accounts, bank accounts, credit cards – all of them usually have a fee attached and you may not be happy when you work out how much all of this is costing you each year; Lets say you have a home loan with a $395 annual fee, 2 or 3 credit cards – most cards have a $60 - $90 annual fee, that’s a couple of hundred dollars there – and a bank account hidden away with a $5 or $10 monthly fee; possibly some ATM access fees thrown in as well. Did you know that a lot of the home loan packages will allow for an annual fee on a credit card and the monthly bank account fee to be waived? If you need more than one bank account – and I understand the way lots of people bank, then you can consider

Featured Posts
Recent Posts
Archive
Search By Tags
Follow Us
  • Facebook Basic Square
  • Twitter Basic Square
  • Instagram Social Icon

We recommend that you seek independent financial and taxation advice before acting on any information in this website or blog. It contains general information only and has been prepared without taking into account your objectives, financial situation or needs.

 

We recommend that you consider whether it is appropriate for your circumstances.

 

Your full financial situation will need to be reviewed prior to acceptance of any offer or product.

 

Interest rates are subject to change without notice. Lenders terms, conditions, fees & charges apply.

Call us today on 02 9002 0380

  • Facebook Social Icon
  • Instagram Social Icon
  • Twitter Social Icon
  • YouTube Social  Icon

Two Red Shoes Copyright © 2020 All rights reserved. Call on 02 9002 0380, 0404 494 929, email us  or 'old school' fax 02 9002 0381

Jarrett Group Pty Ltd atf Jarrett Group Discretionary Trust trading as Two Red Shoes hold Australian Credit Licence No: 428614 and are members of an external dispute resolution scheme. Details of our complaint resolution process can be found here or please see our credit guide. All information contained on this site is general information only, and does not take into account your particular financial situation or needs. You should consider your personal objectives, financial situation along with the recommendations of your trusted advisors.

Sydney mortgage broker operating in

  • The Hills District

  • Hawkesbury

  • Nepean 

  • North Shore

  • Penrith

 

  • Camden

  • Baulkham Hills

  • Lower Blue Mountains

  • Parramatta

  • Hornsby

 

  • Windsor and Richmond

  • Rouse Hill

  • Hunters Hill

  • Gladesville

  • NSW Central Coast too!