Residential First Home Buyer Purchase
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A new Client had around 15% deposit saved and wanted to purchase their first home.
Challenges Faced
Significant Lenders Mortgage Insurance (LMI) costs apply to most Borrowers when borrowing more than 80% of the property value.
LMI for this proposal would have been around $10,000.
Outcome
With the benefit of our wide panel of Lenders we were able to identify a special promotion for First Home Buyers which would reduce the cost of LMI from $10,000 to just $1.00!
We were also able to negotiate a competitive interest rate discount, resulting in a very happy Client who is now enjoying their first home.
