Lenders Mortgage Insurance can be a great tool to help homebuyers get into a property that they otherwise
might not be able to afford. However, it comes with a cost.
LMI is a one-off insurance premium that is put in place to protect the lender in the event the borrower is unable to manage their repayments. For many loans, LMI can add a significant upfront cost. LMI is normally applicable when a borrower is seeking to get a loan with an LVR of more than 80 per cent.
Using LMI can be a very valuable tool for many homebuyers, as it might allow you to purchase a property years ahead of when you might have otherwise. You’ll be buying a property in today’s dollars and can benefit from any capital growth, instead of being required to pay a higher price at a later point. If you are required to pay LMI, there are some ways you can potentially reduce the cost.
Our in-house Mortgage Broker can help you work out the best loan to finance your investment property. Get in touch to start a conversation.
In the 2019–20 Budget, the government announced that Single Touch Payroll (STP) would be expanded to include additional information.
Throughout March, the ATO sent letters to directors who are potentially in breach of their obligations to ensure that the company they represent has met its PAYG withholding, superannuation guarantee charge, or GST obligations.
It’s a great headline isn’t it? Spend $100 and get a $120 tax deduction. Days after the Federal Budget announcement that businesses will be able to claim a 120% deduction for expenditure on training and technology costs, we started receiving marketing emails encouraging us to spend now to access the deduction.