How can I avoid Lenders' Mortgage Insurance?

There are two main ways to avoid paying Lenders Mortgage Insurance (LMI).

You can save at least a 20% deposit, which means you won’t need to pay LMI.

Or, you could use a guarantor. This is where a family member uses the equity in their property to help secure your loan, so you may not need a full 20% deposit.

Terms, conditions, fees, charges and credit criteria apply. This article is intended to provide general information of an educational nature only. Information in this article is current as at the date of publication.