More Australians can now realise their homeownership dreams sooner, it suggests
Helia Group, an Australian provider of lenders mortgage insurance, has forged a five-year partnership with Great Southern Bank, to become the mutual bank’s exclusive provider of LMI solutions for its home loan customers.
The partnership provides Great Southern Bank access to Helia’s suite of LMI solutions, accommodating a range of funding solutions for home loans, including LMI paid upfront, LMI capitalised into loan, and family assistance LMI discount.
Greg McAweeney (pictured above left), Helia chief commercial officer, said the company was excited to help deliver more homeownership opportunities for Great Southern Bank’s customers.
“This five-year partnership reflects our shared purpose of broadening the scope for homebuyers to enter the property market and improve their financial wellbeing,” McAweeney said.
“With a 20% deposit remaining a challenge for many prospective homebuyers, more people are realizing LMI can offer a pathway to secure a property sooner. Great Southern Bank understands this and is committed to supporting their customers in reaching that milestone.”
The Helia leader added that the company’s commitment to the partnership also recognises the role customer-owned banks in the community, “with their customer focus, underpinned by a people-helping-people philosophy.”
Megan Keleher (pictured above right), chief customer officer at Great Southern Bank, said the bank, too, was pleased with the new partnership with Helia.
“By working together, we can help more people into their own homes sooner, and with a smaller deposit,” Keleher said. “Together, our shared values ensure we’re delivering on our purpose of helping all Australians to their own home.”
In a media release, Helia and Great Southern Bank said they will draw on their combined 130 years of experience and expertise in the Australian housing market to find ways to deliver more for home loan customers.
“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 homeownership,” McAweeney said.
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