What is Lender’s Mortgage Insurance (LMI)?
What is Lender’s Mortgage Insurance (LMI)? LMI applies when you are borrowing more than 80% of the value of the property being offered as security. LMI IS NOT income protection, death cover, sickness, accident, unemployment or redundancy insurance. It protects the lender in the event of you defaulting on the loan and the bank incurring […]
