Lenders’ Mortgage Insurance (LMI) is a third-party insurance premium. It’s payable by you as a borrower. Although the borrower pays for it, LMI protects the lender against the potential loss that may be incurred if you’re unable to repay your home loan.
Want to know more? Speak to a Lending Specialist on 13 73 77 between 8:00am - 8:00pm AEST.