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lenders mortgage insurance

Everything you Need to Know About Lenders Mortgage Insurance

Buying a house is a big investment. Saving for a deposit can take many years. Lenders mortgage insurance (LMI) is an option for those who want to get into the market sooner but don’t have the full 20 per cent deposit saved. LMI protects the lender in the event you default on your mortgage repayments. Many aspects make up LMI, as well as key considerations to keep in mind when choosing whether to pay LMI or save for a larger deposit to avoid paying it. What is lenders mortgage insurance? Lenders mortgage insurance is a one-off, non-refundable, non-transferrable premium that’s … Read more

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