Lenders Mortgage Insurance: What you're getting

Updated September 4 2020 - 12:23pm, first published 9:00am
INSURANCE: Do you know how LMI works? Picture: SHUTTERSTOCK.
INSURANCE: Do you know how LMI works? Picture: SHUTTERSTOCK.

If the perfect new home or investment property you have been waiting for comes onto the market before you have saved your full deposit, your bank or financial institution is likely to require that you take out Lenders Mortgage Insurance.

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