How to Calculate Lenders Mortgage Insurance (And How to Avoid LMI)

how to calculate lenders mortgage insurance

If you’re eager to buy property but don’t have a large cash deposit, then calculating the lenders’ mortgage insurance (LMI) you’ll be charged on your home loan can help you decide whether it’s worth it to go ahead – or save a bit longer towards a larger deposit. A smaller deposit typically means a higher […]

How To Avoid Lenders Mortgage Insurance

how to avoid lenders mortgage insurance

Lenders mortgage insurance (LMI) is one of the most unappealing costs of homeownership. It’s frustrating to consider that if you don’t have enough to cover a 20% deposit, you’re potentially required to pay additional for LMI. This ensures that the lenders are covered in the event you default on your loan. If this sounds like […]