Aspect Learning Guide
Lenders Mortgage Insurance
LMI protects the lender, not the borrower. It often applies when borrowing above 80% of the property value.
Lenders Mortgage Insurance explained in plain English
LMI protects the lender, not the borrower. It often applies when borrowing above 80% of the property value.
Who it protects
LMI protects the lender, not the borrower.
When it applies
It often applies above 80% LVR, though some waivers may exist.
How it is paid
It may be paid upfront or added to the loan depending on lender policy.
General information only: This guide does not take into account your personal objectives, financial situation or needs. Lending policy varies between lenders.