Helia has entered a five-year partnership to exclusively provide Great Southern Bank home loan customers lenders mortgage insurance (LMI).
“As the Australian residential market continues moving through the current cycle, we look forward to strengthening our collaboration and offering more solutions to provide borrowers with the opportunity to accelerate financial wellbeing through home ownership,” Helia Chief Commercial Officer Greg McAweeney said.
Providing a 20% deposit is a challenge for many prospective home buyers, and “more people are realising LMI can offer a pathway to secure a property sooner,” he says.
“Great Southern Bank understands this and is committed to supporting their customers in reaching that milestone.”
Helia, formerly known as Genworth Mortgage Insurance Australia, is the leading provider of LMI in Australia.
Great Southern Bank will have access to Helia’s suite of LMI solutions, including LMI paid upfront, LMI capitalised into loan, and a family assistance LMI discount. Its Chief Customer Officer Megan Keleher says the partnership will help more people into their own homes sooner with a smaller deposit.