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Do you qualify for the lMI waiver?
WHAT IS LMI?
LMI - Lenders Mortgage Insurance.
This is the fee a lender will charge over and above across the term of a loan when you are borrowing above 80%. The amount can vary, but does add a considerable extra amount to the lifetime cost of a loan.
Who qualifies under the LMI Waiver?
The main professions that may qualify for an LMI waiver include:
- Doctors
- Surgeons
- Dentists
- Chiropractors
- Optometrists
- Pharmacists
- Midwives
- Nurses, and other medical professionals such as physiotherapists.
But this waiver also includes professions such as:
- Accountants
- Financial planners, and actuaries.
If you are unsure, please reach out.
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All the lenders that matter
We continually review our lenders and their products to ensure our brokers and affiliate partners are able to meet our clients’ needs. Our lender panel consists of more than 20 residential and commercial lenders including major banks, regional banks, building societies, specialist lenders and mortgage originators.
