We plan to assist a much loved family member get the deposit together to purchase a house. They are currently renting.
My understanding is that, generally, a deposit of 20% is required to avoid very expensive LMI.
I am hoping, among the collective wisdom on ASF, that some subscribers may be able to point me towards reputable and cheaper [in terms of LMI] lenders.
Or perhaps there are completely different strategies we could use?
All and any advise would be appreciated.