Sorry I'm talking about the equity draw on existing property
Can I approach 3 different lenders and ask them all to do a val on my one property and then with run with the highest one - how is there lmi associated with this? If I only take out under 90% of equity?
If you approach 3 lenders directly you'll likely get 3 credit hits.
Moving your existing Suncorp loan to another lender will incur full LMI if you borrow more than 80%. I also suspect you'll have a lot of trouble accessing equity up to 95%, even 90% refinances and equity accesses can be tricky. Lenders are reluctant to give cash out at high LVRs.