Mortgage Broker - Home Loan - Sydney

"all this at absolutely no cost to us."

Had it not been for the attentive, professional and continuous support of John Fisher at Accord Mortgage Brokers we would still be waiting finalization. John Fisher constantly went outside the square and followed up with lawyers and banks to have them get on with their business as required. Countless phone calls and letters of request were sent to various parties by Accord Mortgage Brokers to ensure our refinance stayed on track all this at absolutely no cost to us. We wish to state that it was a pleasure and a relief to have Accord Mortgage Brokers follow through with their job of negotiating the loan. We found Accord Mortgage Brokers to be extremely respectful, trustworthy and ethical in their dealings with our financial affairs.
Shannon and Stuart. Yass, NSW

"i'd had no luck with a couple of banks so i thought why not!"

On my way home thinking of how i was going to obtain some extra cash , i passed a little building with mortgage broker on the front , i'd had no luck with a couple of banks so i thought why not! . I opened the door to find a man sitting down with a big smile on his face by the name of JOHN FISHER . We sat down and i told john my financial posistion and what i needed, with that john set to work finding the best possible loan for me. Within a hour or so john had found a perfect loan for not only the extra money i needed but reconstructed my whole mortgage so i saved money and my repayments were less than before. JOHN FISHER is a very pleasant man who is very easy to talk to and go's out of his way to help you.
Richard & Liz Peakhurst, NSW

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Mortgage Insurance Explained

WHAT IS LENDERS MORTGAGE INSURANCE (LMI)?
LMI was first introduced into the Australian marketplace by the Australian Government in 1965 as way for a First Home Buyers to obtain a home loan with less than the required 20% deposit. Today, LMI is one of the most popular ways to purchase a home without a large deposit. Many banks and lending institutions require borrowers to contribute a 20% deposit before they will agree to provide a loan. This is largely to protect against the risk associated with providing the borrower with the loan in the event that they default. By using LMI, lenders are able to pass on this risk to a mortgage insurer such as Genworth Financial, which in-turn, enables them to offer the same loan amount with less of a deposit.

BENEFITS FOR BORROWERS
For borrowers, whether purchasing their own home or an investment property, using LMI can help them achieve these goals much earlier and in turn, help them start to build personal equity sooner.

BENEFITS FOR LENDERS
For lenders, LMI minimises the risk of loss on low deposit housing loans, enhancing their ability to lend to a broader range of customers.
LMI should not be confused with Mortgage Protection Insurance, which covers the borrower in the event of sickness, unemployment, disability, or death.

WHAT IS COVERED BY LMI?
• Loss of principal
• Unpaid interest
• All reasonable recovery costs such as legal fees, marketing costs, repairs, maintenance, and outstanding rates

WHAT IS NOT COVERED BY LMI?
Examples of exclusions would include, but are not limited to:
The borrower (or guarantor where applicable)
Break costs on fixed rate loans
Penalty Interest
Unreasonable and/or excessive recovery costs
Physical damage to or contamination of the security
Fees and charges not directly related to costs incurred by the Lender in recovery of the debt