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How Much is Lenders Mortgage Insurance (LMI)? | Canstar
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What is lmi? Lenders Mortgage Insurance or LMI is the name given to an insurance product that lenders will force a borrower to undertake when they fail to meet certain criteria. Typically, a lender will request the borrower takes out LMI when their deposit is lower than 20%. This can allow a borrower to take their borrowings up as high at 95%. It is vital that borrowers understand what LMI does and does not cover. LMI is set up to protect the lender against a loss should the borrower default on
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