The Pros and Cons of Lender’s Mortgage Insurance
Better Loan Solutions in Mornington Peninsula • Learning Centre • Insights
Better Loan Solutions in Mornington Peninsula • Learning Centre • Insights
As the value of homes has steadily increased over the years, more borrowers have turned to Lender's Mortgage Insurance (LMI) to help get them onto the property ladder.
However, many borrowers are often confused about Lender's Mortgage Insurance, who and what it actually protects and what
the benefits might be.
Lender’s Mortgage Insurance is a one-off upfront payment applicable when a borrower is unable to provide a 20 per cent deposit. LMI can be
an incredibly valuable tool if you have the borrowing capacity to purchase a property, but you’re only able to provide a smaller
deposit.
Lenders normally like to see a 20 per cent deposit because this protects them in the event the value of the property falls, the borrower runs into financial trouble and defaults on their loan repayments. If a lender had to sell the property, they are taking on more risk if the borrower didn’t have an equity buffer in place.
Our holistic approach to taxation, accounting and financial planning means we bridge the
gap in the client experience, eliminating the frustration from delays that are often inevitable
with multiple stakeholders involved in the lending process.
WEBINAR 11 SEPT // 12PM
The final session focuses on the changing legal environment, highlighting recent amendments to the Fair Work Act, capturing independent
contractors under workers' compensation schemes, payroll tax considerations, superannuation compliance, and practical steps to mitigate
risks.
WEBINAR 4 SEPT // 12PM
In the third session, we'll delve into superannuation guarantee changes, including proposed changes to payday superannuation, new rates and
bases, and the impact on SG liability. Gain insights into employer deductions, termination of employment considerations and more.
WEBINAR 28 AUG // 12PM
Master allowances and reimbursements, understand their PAYG and super guarantee implications, and learn to navigate travel vs.
living-away-from-home allowances. Gain insights into FBT considerations, new ATO record-keeping requirements, and effective salary packaging
arrangements.