๐ ๐ฎ๐ป๐ ๐๐ผ๐ฟ๐ฟ๐ผ๐๐ฒ๐ฟ๐ ๐๐ฎ๐ถ๐น๐ถ๐ป๐ด ๐๐ผ ๐จ๐ป๐ฑ๐ฒ๐ฟ๐๐๐ฎ๐ป๐ฑ ๐๐ต๐ฒ ๐๐ฒ๐ป๐ฒ๐ณ๐ถ๐๐ ๐ผ๐ณ ๐๐ ๐
Property buyers, particularly first home buyers, need mortgage brokers to educate them about lender's mortgage insurance (LMI), but knowledge gaps remain, according to a report from LMI provider Helia.
The report, which was based on interviews with brokers throughout Australia, found that 85% of respondents saw LMI as a way to enter the market sooner and 70% as a way for renters to transition to ownership.
However, as the image shows, many borrowers are unsure about how LMI works and the trade-off between costs and benefits.
Earlier research from Helia found that four in five prospective first home buyers have less than a 20% deposit โ many of whom could potentially use LMI to break into the market.
Subiaco finance brokers are here to help
Interest rate rises are here, but you donโt have to fear with the right broker on your side.
The team at Sonam Capital are here to empower you through financial knowledge. Weโll take the time to get to know you and your unique situation and speak in a language you can understand, with strategies you can implement for the best possible outcomes.
Nick, Wayne and Amanda at Sonam Capital are your Subiaco finance specialists.
