A recent Helia report reveals a significant rise in homebuyer sentiment towards lenders mortgage insurance (LMI). This year, over half of all purchasers (55%) in the study used LMI to buy their property, up from 36% last year.
Despite the First Home Buyer Guarantee (FHOG) being available, many buyers don’t qualify due to purchase price and income thresholds.
If you have clients ready to buy but in need of LMI, ME has some fantastic news: They have recently lowered rates for home loans with an 80-90% LVR.
And that’s not all—if your clients pay their LMI upfront at settlement, they’ll enjoy a sweet 15% discount on their premium¹.
Good to know.
- There’s no need for customers to show a genuine savings pattern (e.g., 3 months) for their deposit funds at ME.
- For purchases over 90% LVR, they simply need to have 5% of the property price held in one borrower’s name at application, evidenced through bank statements.
- You can boost your clients’ confidence with ME’s Approval in Principle. Fully assessed and valid for 120 days for purchases, subject to no material changes in the application.
So, if you have clients looking to purchase a property, ME is a great choice to consider!
Get in touch with your BDM today!
