Easy Street delivers significant mortgage saving to key community professions

12 October 2020

 

Key community professions that support our community can now secure a home faster thanks to a cost-saving mortgage initiative from Easy Street. 

Essential services workers such as police officers, ambulance officers and paramedics, nurses in hospitals and aged care facilities, as well as prison officers, professional firefighters and school teachers may be eligible* to borrow up to 90% of a property’s value through Easy Street’s Community Support Employees home loan feature, without the need to pay Lenders’ Mortgage Insurance (credit eligibility criteria, terms and conditions, fees and charges apply).

Lenders’ Mortgage Insurance, or LMI, is an insurance that protects the lender, not the borrower against a shortfall in the sale of the home and the outstanding loan amount should they default on a loan.

LMI is usually levied on a borrower if they take a loan of more than 80% of the home’s value. LMI is a one-off payment made by the borrower at the time of the loan settlement, and this fee can add many thousands of dollars to the size of the mortgage. 

Mr John Tancevski, Chief Executive of Easy Street, says, “This home loan offer is available for eligible occupations on owner-occupied properties. 

“At Easy Street, we aim to help more people achieve their financial goals faster. We're pleased we're also able to help some of our courageous frontline heroes who continue to risk their safety to help our communities through some of the most extraordinary health and climate emergencies we have ever experienced. 

“The important work in our communities of these essential workers should be rewarded and to show our gratitude we are helping eligible community support workers with smaller deposits to buy a home faster.”

The LMI break for community workers is available on home loans valued up to $1 million and is offered on most new owner-occupier loans available through Easy Street. This offer is also available to professional services specialists such as doctors, surgeons and vets. 

 

For further information on the Community Support Employees home loan offer contact us on 1300 13 14 65, or visit https://info.easystreet.com.au/community-support-es/

 

*Credit eligibility criteria, terms and conditions, fees and charges apply.

 

 

 

 

The information contained in this article is only correct at the point of time of publication. It is general information and has been prepared without taking into account your personal circumstances, objectives or needs. Please consider if this information is right for you before making a decision to acquire any product.