CommBank recently reduced the LVR level for LMI of home loans from 80% to 70%. This means that home buyers in Melbourne will now need 30% deposit to avoid paying Lenders Mortgage Insurance (LMI). Its already hard enough for new buyers to get in the market, and this is a greedy bank ploy which will only make it harder.
Help this mortgage broker avoid CommBank and their 70% LVR requirements by signing this petition.