What is LMI? Everything about Lenders Mortgage Insurance
What is LMI? Lenders Mortgage Insurance or LMI, as the name suggests, is insurance for lenders. Lenders hedge their bets on all loans by using...Read More
Most lenders will usually require you to have a minimum 5% deposit of the purchase price plus a little extra to cover other costs such as stamp duty, legal fees and lender’s fees. Now lenders have changed the required minimum deposit depending on other factors such as if it’s an investment purchase and where the property is located. With constant changes with bank requirements, it is important to speak to a broker to work out what you really need.
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