Simplyfying mortgage insurance for home buyers

Lenders mortgage insurance is an option for clients who have less than a 20% deposit, recent new research conducted in partnership between Helia and the Mortgage & Finance Association of Australia (MFAA), sought to understand broker perceptions of LMI, how brokers talk about LMI with their clients and how much home buyers currently know about LMI.

Speaking on the research, MFAA CEO Anja Pannek said “it reinforces the crucial role brokers play in bringing choice and competition to the market through identifying products that meet their needs and circumstances, including LMI”.

“This research highlights how important brokers are ensuring prospective home buyers are aware of all their options, including when LMI can be the right choice. Mortgage brokers are a trusted source of information for home buyers and are in a position to explain how LMI works as they do all options for buying a home,” said Ms Pannek.

“We know that mortgage and finance brokers increase both competition and choice for home buyers through identifying products that meet their specific needs. The research highlights that LMI could be part of this choice Australians have when it comes to securing a home loan, and it’s something they should know about” said Ms Pannek.

For more information on the research findings and insights please click here