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Last month we were interested to learn that ANZ announced they will commence paying partial LMI (Lenders Mortgage Insurance) refunds on policies that are terminated in the first two years. LMI is payable by the mortgage applicant to protect the lender should the borrower not meet the loan repayment obligation for loans that are above 80% of the value of the total security being offered.
Could you potentially benefit from this policy change?
To qualify for an LMI refund the following requirements must be satisfied:
This is a handy snippet to have up our sleeve should anyone’s scenario fall in line with this new offering. The Blackburne Mortgage Broking team will be able offer more information should you feel this may be applicable to you and aid in securing the refund if you qualify. Or if you have any other queries relating to either Lenders Mortgage Insurance or any other home loan related matters, contact us any time.
Get a great deal on your home loan with the Perth Mortgage Broker who is in your financial corner.
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