Lenders mortgage insurance (LMI)

If you’re looking to buy a home but don’t have a 20% deposit, you’ll generally need to pay for lenders mortgage insurance (LMI). It can be a good option for some buyers as it allows them to get into the property market sooner, but it can also increase your interest costs over the life of … Read more

Lenders Mortgage Insurance

Lenders Mortgage Insurance What is Lenders Mortgage Insurance? Lenders Mortgage Insurance (LMI) is insurance that a lender takes out to insure itself against the risk of not recovering the outstanding loan balance if you, the borrower, are unable to meet your loan payments and the property is sold for less than the outstanding loan balance. … Read more

New life insurance code riddled with loopholes

Life insurance has stood out as an industry without a code of practice when others such as general insurers have one. The latest attempt by the Financial Services Council to remedy this may be a last chance for life insurers to reform, before the government forces them to. The code from the Financial Services Council focuses on … Read more