Lenders mortgage insurance (LMI) provider Helia has partnered with Great Southern Bank, becoming the bank’s exclusive provider of LMI solutions for its home loan customers.
Greg McAweeney, chief commercial officer at Helia, said the partnership with the Great Southern Bank will last for five years and is in line with a shared purpose to support home buyers in entering the property market and improving their financial wellbeing.
“We are excited to be supporting Great Southern Bank as their LMI provider to help deliver more opportunities for homeownership,” said McAweeney. “With a 20% deposit remaining a challenge for many prospective home buyers, 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.”
“Helia’s commitment to this partnership also recognises the role customer-owned banks such as Great Southern Bank play in the community, with their customer focus, underpinned by a ‘people helping people’ philosophy,” he added.
Megan Keleher, chief customer officer at Great Southern Bank, welcomed the partnership, noting this is a step to help Australians in owning a home. “We are pleased with Helia as our lenders mortgage insurance provider. By working together, we can help more people into their own homes sooner, and with a small deposit.”
With the partnership, Great Southern Bank gets access to Helia’s suite of LMI solutions to accommodate a range of funding options for home loans. These include LMI paid upfront, LMI capitalised into loan, and family assistance LMI discount.