One of the largest Australian banks is planning to cease processing new and existing MPI applications. Brokers are advised to refer any clients seeking such a product to a qualified financial planner. Existing customers will continue to be serviced, despite the change. ANZ’s wealth business, OnePath, was recently acquired by Zurich Australia. This change is a result of the recent coronavirus pandemic.
As a result, ANZ has introduced a policy to make mortgages more affordable for professionals. This new policy allows mortgages with ninety percent loan-to-value ratios available to any qualified professional. The only requirement is to be a member of a relevant industry body. ANZ’s LMI waiver may result in thousands of dollars in savings. It’s important to note, however, that this is only one of many lenders offering LMI reductions.
You can deduct closing costs, such as mortgage insurance premiums and mortgage points. However, you should be aware that mortgage insurance premiums are not tax-deductible unless you pay the insurance for preventative dental care Mortgage Broker Swindon. Mortgage insurance premiums may be deductible for low-income individuals and those with high debt to income ratios. If you’re considering mortgage insurance premiums, remember to look at your income to determine if they qualify as a tax deduction.