When you talk about mortgage insurance, you're actually talking about a blanket term for insurance that relates to a home loan. You need to be careful though and find out what exactly it is you're getting. The reason for this is that one type of mortgage insurance is designed to work in favor of the lender, while the others are for your benefit as a borrower.
In this article, we'll show you the distinction between the insurance that protects you and the one that protects the lenders. Here they are:
Here at Rate Detective, we can help you find both the right mortgage for you and personal insurance that will help you secure your future. Our qualified advisors are ready to assess your needs and provide you with rate comparisons of Australia's top lenders and insurance companies so that you can make the right choice for you and your family. Contact us today for more details!