Lender Mortgage Insurance (LMI) is an insurance policy that protects the lender in case you default on your home loan. It’s typically required when your deposit is less than 20% of the property’s value. While LMI doesn’t protect the borrower, it allows you to secure a loan with a smaller deposit, making home ownership more …

When choosing a mortgage, understanding the difference between variable and fixed rates is essential. A fixed-rate mortgage locks in your interest rate for a set period, offering stability and predictable repayments. It protects you from rate hikes but doesn’t benefit from rate drops. Conversely, a variable-rate mortgage fluctuates with the market. While this means your …

Buying your first home is an exciting milestone, but it comes with its own set of challenges. Start by understanding your budget and getting pre-approved for a mortgage. This will give you a clear idea of what you can afford. Familiarise yourself with government grants and schemes available for first-time buyers, such as the First …