Refinance - Mortgage Broker - Home Loan - Sydney

"over the line in the appropriate time frame was crucial"

I am writing to say a huge thank you on behalf of myself and my brother Paul for handling our home loan for us. As it was our first time obtaining a loan your product knowledge and honesty with regard to all the different loans available was something we would have been lost without. We know the timing was tight and your ability to get everything over the line in the appropriate time frame was crucial. I would have no hesitation in recommending your services to any future prospects.
Greg and Paul Lugarno, NSW

"dealing with a person of the highest integrity"

Your amazing product knowledge of the different types of loans available and from whom, led me to believe that we had found the right people to do business on our behalf. My wife Sue and I felt at all times that we were dealing with a person of the highest integrity and we never felt compromised at all in any of our decisions.

The way we were kept informed at all times during the ups and downs in your effort to refinance, and even when I was ready to give up and sell up you were always upbeat and confident of achieving an outcome for us. My wife and I have both appreciated your follow-ups on our wellbeing and it has at times been overwhelming and very much appreciated to get these calls. Sue and I both hope that we can continue to be associated with you and your organisation for a long time to come. I would have no hesitation in recommending you and your organisation to family, friends, and strangers alike.
David and Sue St. Marys, NSW

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Mortgage Insurance Explained

WHAT IS LENDERS MORTGAGE INSURANCE (LMI)?
LMI was first introduced into the Australian marketplace by the Australian Government in 1965 as way for a First Home Buyers to obtain a home loan with less than the required 20% deposit. Today, LMI is one of the most popular ways to purchase a home without a large deposit. Many banks and lending institutions require borrowers to contribute a 20% deposit before they will agree to provide a loan. This is largely to protect against the risk associated with providing the borrower with the loan in the event that they default. By using LMI, lenders are able to pass on this risk to a mortgage insurer such as Genworth Financial, which in-turn, enables them to offer the same loan amount with less of a deposit.

BENEFITS FOR BORROWERS
For borrowers, whether purchasing their own home or an investment property, using LMI can help them achieve these goals much earlier and in turn, help them start to build personal equity sooner.

BENEFITS FOR LENDERS
For lenders, LMI minimises the risk of loss on low deposit housing loans, enhancing their ability to lend to a broader range of customers.
LMI should not be confused with Mortgage Protection Insurance, which covers the borrower in the event of sickness, unemployment, disability, or death.

WHAT IS COVERED BY LMI?
• Loss of principal
• Unpaid interest
• All reasonable recovery costs such as legal fees, marketing costs, repairs, maintenance, and outstanding rates

WHAT IS NOT COVERED BY LMI?
Examples of exclusions would include, but are not limited to:
The borrower (or guarantor where applicable)
Break costs on fixed rate loans
Penalty Interest
Unreasonable and/or excessive recovery costs
Physical damage to or contamination of the security
Fees and charges not directly related to costs incurred by the Lender in recovery of the debt