LMI (Lenders Mortgage Insurance)

WHEN borrowing more than the 80% of the value of the property most banks and financial institutions require LMI.

This is added to the cost of the loan.

Essentially this gives buyers the opportunity to purchase a property with a smaller deposit.

As the name suggests mortgage insurance protects the lender if the borrower was to default and the property sells for less than the outstanding balance on the loan.

The borrower remains liable for any balance owing under the contract even if the insurer has paid that amount to the lender.

A repayment of the loan within a 2 year period may be eligible for a partial refund of the LMI charge.


Lismore Gallery exhibits capture our reach

Lismore Gallery exhibits capture our reach

As a public facility the gallery's remit is ensure reach is broad

Escape the screens and let's get cycling

Escape the screens and let's get cycling

cycling gives your mind a break and your body an influx of oxygen

Gallery exhibits a 'portrait' of Lismore

Gallery exhibits a 'portrait' of Lismore

Two of our best photographers give Heart & Soul to new exhibition

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