What is Lenders Mortgage Insurance?
What is LMI or Lenders Mortgage Insurance? LMI or Lenders Mortgage Insurance is a one off, non refundable payment made by borrower to lender, to protect lender in an event of default (borrower unable to make mortgage repayments). In Australia, LMI is usually required when the borrower borrowing more than 80 % of the property … Read More
