How this investor found the solution to her LMI dilemma

To pay or not to pay Lenders Mortgage Insurance (LMI)? With the help of a savvy mortgage broker, here’s how an investor found the best answer to her question.

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Smart Property Investment’s Phil Tarrant sits down with Eva Loisance, the manager for Finni Mortgages’ broker division, to talk about how her client, Anita, wanted to purchase a second property but with a specific caveat: she doesn’t want to pay additional costs beyond her 10 per cent deposit.

To help her client see “the bigger picture” for the next step in her investment journey, Eva unpacks the different considerations that go into deciding whether or not to pay LMI, including the property’s price and the borrower’s individual circumstances and goals, among other factors.

Finally, the duo discusses the tailored solution Eva provided for her client and explores various options that borrowers can consider to improve their financial position prior to applying for a home loan in today’s high-interest-rate market.


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