2023年9月11日 · LMI is an insurance policy that protects the lender from financial loss in the event that the borrower can’t keep up their home repayments. Although the term LMI is often used, especially in conjunction with Housing New Zealand’s First Home Loan scheme, it’s also often referred to as a low equity premium (LEP) or low equity margin (LEM).

The purpose of LMI is to protect your mortgage lender against potential financial loss. If you cannot meet your loan repayments and are unable to come to an agreement with your lender, your property may need to be sold to cover the amount outstanding on your home loan.

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Lenders Mortgage Insurance (LMI) protects the bank if you are unable to meet the repayment on your mortgage. Your lender takes out insurance to cover themselves for any losses they suffer if you can’t meet your mortgage repayments. Financial institutions (as you might expect!) pass this insurance cost onto the borrower – you.

Lenders mortgage Insurance (known as LMI) is an insurance policy that protects the lender from financial loss in the event that the borrower can’t keep up their home repayments. LMI is often used in conjunction with the First Home Loans (supported by Kainga Ora) where they charge 1% as a LMI charge.

Compare the best low deposit mortgage offers and buy a home sooner with a mortgage that side-steps the standard 20% deposit rule. A low deposit home loan allows you to buy a property with less than the standard 20% deposit. The government-backed First Home Loan scheme lets qualifying borrowers move into their first home with a 5% deposit.

Mortgage insurance provides financial protection to buyers and lenders so that the loan amount is protected should something happen to you preventing you from paying. It provides lenders with the repayments you’re unable to make and protects their investment as well as your property.

2019年4月30日 · Lenders Mortgage Insurance (LMI) is a fee banks and other finance lenders charge borrowers when they are deemed high risk. Usually, this is when their deposit is less than 20% of their property’s purchase price.

With just a few clicks, you’ll have exactly what you are looking for—available to view online or download. You can compare multiple policies side-by-side (up to 8 policies simultaneously), easily manage comparison slots by dragging and dropping policies, and use the dashboard to save and organize your comparisons for future reference.

Today marks the official 10th birthday of LMI Group New Zealand. On the 1st April 2011 LMI Group NZ acquired an office suite in Albany, Auckland. Beginning with a vision of providing support and systems to insured, Advisers and Insurers alike. The team have worked tirelessly for the past ten years to make this vision a reality.