by Greg North | May 16, 2022 | Types of Insurance
What is Lender’s Mortgage Insurance (LMI)? LMI is often referred to as mortgage insurance. It is usually required by the lender where the borrower’s deposit is less than 20% of the purchase price of the property. LMI is paid for by the borrower, and...
by Greg North | May 12, 2022 | Types of Property Finance
What is a fixed-interest rate loan? These loans are set at a fixed interest rate for a specified period (usually one to five years). The advantage of this type of loan is that it allows you to organise your finances and repayments without the risk of rising interest...
by Greg North | May 12, 2022 | Types of Property Finance
What is a variable or variable-interest rate loan? These loans are the most common type available for mortgages or real estate purchases. The variable rate refers to the interest rate applied to repayments, which is not locked in at a set rate, but varies with the...
