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Save on Your First Home with an 85% LVR1

If you are building or buying a new home for the first time and looking for some savings, we’ve got a loan to get you that home.

We are pleased to offer an 85% LVR home loan to first home buyers which means there is no added cost of Lenders Mortgage Insurance (LMI).

What is LVR?

LVR stands for Loan to Value Ratio. LVR is a commonly used acronym in the mortgage and property industry, but what does it mean or how does it apply to home purchases?

LVR is the percentage of money you borrow for a home loan compared to the value of the property. It is used to assess your risk factor as a borrower; lenders will calculate your LVR before deciding whether to approve your home loan application. The higher your LVR is, the more of a risk you may be to your lender.

If you meet our lending conditions and your LVR is 85% or lower, there is no added cost of LMI. Therefore, you’ll get a nice cost savings on your first home!

Table below indicates the estimated LMI premium cost savings2 based on an 85% LVR.

Loan value Estimated LMI premium cost savings
$500,000 $5,171.60
$600,000 $6,205.91
$700,000 $9,131.82
$800,000 $10,436.36
$900,000 $11,740.91
$1,000,000 $13,045.45

Premium cost savings above are calculated on 24/9/2018. These costs should be used as an indication only. Actual premium may vary state to state and is depended on a range of factors, including but not limited to, the loan purpose, borrower type and security type.

Other information

  • Available on our First Rate and All-In-One Home Loan products
  • Available on both fixed and variable interest rates
  • Valuation and legal fees are capped at $4503
  • Interest Only repayment option available for construction loans
  • 15% deposit or equity plus the associated purchase costs

Applicable home loans

First Rate All in One

Our First Rate home loan is a no-fuss low interest rate home loan that comes with great benefits that allows you to manage your mortgage as you choose. Fixed and variable interest rate options available.

  • No monthly account keeping fees
  • Flexible repayment options at no extra cost
  • Unlimited redraw facility available for variable interest rates
  • No early repayment penalties for variable interest rates
  • Option to split loan between fixed and variable interest rates
  • Low ongoing variable interest rates




Find out more

Our All in One home loan offers you complete flexibility with a full range of additional features, and a highly competitive variable interest rate.

  • No monthly account keeping fees
  • Flexible repayment options at no extra cost
  • Unlimited redraw facility available for variable interest rates
  • No early repayment penalties for variable interest rates
  • Option to split loan between fixed and variable interest rates
  • Low ongoing variable interest rates
  • 100% interest offset facility
  • No annual Visa Credit Card fee

Find out more

 

Need help? Contact a Home Loan Specialist

Call Talk to a loans specialist Apply for a home loanDownload information sheet

 

Disclaimer:

Eligibility criteria, terms and conditions, fees and charges apply. This offer may be varied or withdrawn at any time. To view any of our current interest rates, please click here.

1. LVR eligibility criteria apply.
2. Estimated calculations by QBE Premium Calculator is provided as an indication of the LMI premium and not for any other purpose such as whether the applicant may be eligible for LMI and should not be relied upon other than an estimate to the potential cost of LMI.
3. This is applicable for First Home Buyers only. Applicants will be required to meet all other fees, charges and costs associated including the cost of any Stamp Duty and Government Registration Fees applicable to their mortgage. The cost of these fees may vary in different States and Territories and will be specified at the time the loan is approved.