Are you curious about what Lenders Mortgage Insurance (LMI) is and how it actually works? Do you wonder if it's necessary and worth considering when purchasing a property, or do you think it's just an additional cost you can avoid?

In this episode, we sit down with Strachan Taylor from Helia, Australia’s leading provider of LMI, to delve into the details.

We aim to clarify how often claims are made and why, despite its additional cost, LMI can be a beneficial safeguard rather than something to avoid. By breaking down these aspects, we help you make better decisions about LMI in your home buying journey.

Tune in to gain a comprehensive understanding of LMI and discover why it might just be the safety net you need.

Episode Highlights:

00:00 - Introduction

01:01 - Who is Strachan Taylor?

01:33 - The history and evolution of Lenders Mortgage Insurance (LMI) in Australia

05:56 - Who else are the competitors of Helia in the LMI space?

06:27 - How has the federal government's 2019 first homebuyer guarantee impacted Helia?

08:43 - Could future regulatory changes potentially blindside your business operations?

10:06 - Do lenders evaluate the potential for property appreciation or depreciation?

12:14 - Is there industry-wide pressure for insurance companies to offer cheaper prices?

14:39 - Is the bank of relatives another competitor in the LMI space?

18:24 - The role and perception of LMI in the home buying process

21:29 - Strachan’s thoughts on new policies where banks are more willing to self-insure

24:19 - How are the LMI premiums calculated?

27:18 - What’s the riskiest type of property for first home buyers?

30:42 - Thoughts on Fintech, Proptech, and etc…

36:54 - Strategies and initiatives by Helia to address the housing affordability crisis

40:15 - How has Helia's share price evolved from its lows to its current levels?

43:30 - How does Helia view customer behaviour regarding home insurance and refinancing?

45:27 - Do borrowers continue paying LMI after refinancing their mortgages?

46:51 - Considering various options including reusing LMI benefits before refinancing

51:15 - Stop looking at LMI as just and additional cost

56:33 - Strachan Taylor’s property dumbo

About Our Guest:

Strachan Taylor serves as Helia's Strategic Partnership Leader, where he spearheads a dynamic partnership team dedicated to collaborating closely with lender customers in pursuit of helping more Australians achieve financial security through home ownership, expedited by LMI solutions. With a comprehensive skill set encompassing team leadership, communication, and business development, Strachan brings tertiary-level qualifications and extensive expertise in sales, marketing, distribution, and risk management to the helm, constantly striving to enhance risk and capital management solutions and provide valuable market insights for Helia's customers to bolster their risk-writing capabilities.

Connect with Strachan Taylor:
Visit their company website: https://helia.com.au/
Follow Strachan on LinkedIn: https://www.linkedin.com/in/strachantaylor/

Resources:
Visit our website https://www.theelephantintheroom.com.au
If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast  questions@theelephantintheroom.com.au
Looking for a Sydney Buyers Agent? https://www.gooddeeds.com.au
Work with Veronica: https://www.veronicamorgan.com.au
Looking for a Mortgage Broker? https://www.blusk.au
Work with Chris: hello@blusk.au

Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
Subscribe on YouTube: https://www.youtube.com/@theelephantintheroom-podcast
Subscribe on Apple Podcasts: https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719
Subscribe on Spotify: https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765

Are you curious about what Lenders Mortgage Insurance (LMI) is and how it actually works? Do you wonder if it's necessary and worth considering when purchasing a property, or do you think it's just an additional cost you can avoid?
In this episode, we sit down with Strachan Taylor from Helia, Australia’s leading provider of LMI, to delve into the details.
We aim to clarify how often claims are made and why, despite its additional cost, LMI can be a beneficial safeguard rather than something to avoid. By breaking down these aspects, we help you make better decisions about LMI in your home buying journey.
Tune in to gain a comprehensive understanding of LMI and discover why it might just be the safety net you need.
Episode Highlights:
00:00 - Introduction
01:01 - Who is Strachan Taylor?
01:33 - The history and evolution of Lenders Mortgage Insurance (LMI) in Australia
05:56 - Who else are the competitors of Helia in the LMI space?
06:27 - How has the federal government's 2019 first homebuyer guarantee impacted Helia?
08:43 - Could future regulatory changes potentially blindside your business operations?
10:06 - Do lenders evaluate the potential for property appreciation or depreciation?
12:14 - Is there industry-wide pressure for insurance companies to offer cheaper prices?
14:39 - Is the bank of relatives another competitor in the LMI space?
18:24 - The role and perception of LMI in the home buying process
21:29 - Strachan’s thoughts on new policies where banks are more willing to self-insure
24:19 - How are the LMI premiums calculated?
27:18 - What’s the riskiest type of property for first home buyers?
30:42 - Thoughts on Fintech, Proptech, and etc…
36:54 - Strategies and initiatives by Helia to address the housing affordability crisis
40:15 - How has Helia's share price evolved from its lows to its current levels?
43:30 - How does Helia view customer behaviour regarding home insurance and refinancing?
45:27 - Do borrowers continue paying LMI after refinancing their mortgages?
46:51 - Considering various options including reusing LMI benefits before refinancing
51:15 - Stop looking at LMI as just and additional cost
56:33 - Strachan Taylor’s property dumbo
About Our Guest:
Strachan Taylor serves as Helia's Strategic Partnership Leader, where he spearheads a dynamic partnership team dedicated to collaborating closely with lender customers in pursuit of helping more Australians achieve financial security through home ownership, expedited by LMI solutions. With a comprehensive skill set encompassing team leadership, communication, and business development, Strachan brings tertiary-level qualifications and extensive expertise in sales, marketing, distribution, and risk management to the helm, constantly striving to enhance risk and capital management solutions and provide valuable market insights for Helia's customers to bolster their risk-writing capabilities.
Connect with Strachan Taylor:
<ul>
<li aria-level="1">Visit their company website: <a href="https://helia.com.au/">https://helia.com.au/</a></li>
<li aria-level="1">Follow Strachan on LinkedIn: <a href="https://www.linkedin.com/in/strachantaylor/">https://www.linkedin.com/in/strachantaylor/</a></li>
</ul>
Resources:
<ul>
<li aria-level="1">Visit our website <a href="https://www.theelephantintheroom.com.au">https://www.theelephantintheroom.com.au</a></li>
<li aria-level="1">If you have any questions or would like to be featured on our show, contact us at: The Elephant in the Room Property Podcast  <a href="mailto:questions@theelephantintheroom.com.au">questions@theelephantintheroom.com.au</a></li>
<li aria-level="1">Looking for a Sydney Buyers Agent? <a href="http://www.gooddeeds.com.au/">https://www.gooddeeds.com.au</a></li>
<li aria-level="1">Work with Veronica: <a href="http://www.veronicamorgan.com.au">https://www.veronicamorgan.com.au</a></li>
<li aria-level="1">Looking for a Mortgage Broker? <a href="http://www.blusk.au">https://www.blusk.au</a></li>
<li aria-level="1">Work with Chris: <a href="mailto:hello@blusk.au">hello@blusk.au</a></li>
</ul>
Enjoyed the podcast? Don't miss out on what's yet to come! Hit that subscription button, spread the word and join us for more insightful discussions in real estate. Your journey starts now!
<ul>
<li aria-level="1">Subscribe on YouTube: <a href="https://www.youtube.com/@theelephantintheroom-podcast">https://www.youtube.com/@theelephantintheroom-podcast</a></li>
<li aria-level="1">Subscribe on Apple Podcasts: <a href="https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719">https://podcasts.apple.com/ph/podcast/the-elephant-in-the-room-property-podcast/id1384822719</a></li>
<li aria-level="1">Subscribe on Spotify: <a href="https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765">https://open.spotify.com/show/3Ge1626dgnmK0RyKPcXjP0?si=26cde394fa854765</a></li>
</ul>

Who's really in control when you buy a property?

The Elephant In The Room is where the things that no one wants to talk about, actually get talked about.  

Veronica Morgan, real estate agent, buyers agent and co-host of Foxtel’s Location Location Location Australia & Chris Bates, financial planner, mortgage broker and wealth coach have joined forces to find out what’s really going on in the world of real estate.

Veronica and Chris talk to property owners and buyers every day in their respective lines of business. They’ve observed a wide spectrum of confidence in people’s decision making ability when buying and selling property, often to the detriment of the individuals concerned. They are both fascinated by consumer behaviour and together they’re going to uncover who’s really making the decisions when you buy a property.

In each episode they get into the psyche of buyers, agents, auctioneers and other industry experts to learn the truth about how buyers are influenced and why they do the things they do. In every episode you’ll learn from the mistakes of a “property dumbo” as well as Chris & Veronica’s “elephant rider bootcamp” training session.

The plan? This property podcast has been created to help us all make better property decisions!

We talk about the things no one wants to talk about in the Property Market

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