Amy Lunardi

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1,235 appearances 4 recordings 1 series first heard May 2020 last heard Dec 2022

Amy Lunardi’s voice in public audio — every appearance, attributed to the second.

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Australian Finance Podcast · Is Now The Best Time to Buy a House? Guest: Amy Lunardi · 3 May 2020 podcast

You're only eligible for this if you're eligible for this as well.

And then this is through and there's income limits and so many different things that I think I've actually had a lot of luck sometimes just pulling the SRO and clarifying a point.

They've been very good with that.

But these change over time too.

So what might be in place now could change in a year's time and could change after that.

So also don't rely on this always being the case if you're planning years into the future.

Yep.

So that's on a state level.

Then from the federal level, we've got this 5% deposit scheme, which is what you're taking advantage of, I believe.

Yep.

So that's something that the government brought up just before the last election.

Very good timing from them.

And I thought it was actually quite hypocritical at the time because that was right in the depths of our responsible lending, you know, them pushing that on the banks.

So what it is, is usually when you have less than a 20% deposit, then you need to pay what's called lender's mortgage insurance.

And this is for any buyer.

And what that is, is that it's essentially the bank saying, if you're giving me less than a 20% deposit, I have some risk involved.

Therefore, you need to take out this insurance to protect me if that person needs to sell that property and they can't recoup their losses.

So it can be quite a lot of money, but just say it's 10, 15 grand, whatever it is, it's based on how much deposit you have.

It's added onto the loan and it's capitalised.

So you're not paying that up front.

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