Lenders Mortgage Insurance

Question

The Government's Home Guarantee Scheme has reduced the number of home borrowers required to take out Lenders Mortgage Insurance (LMI). As LMI is a very poor value insurance product for homeowners, is there any appetite for the government to intervene to offer an alternative insurance product to the cohorts of consumers who are still required to purchase LMI?

Answer

See attached response.

Documents

• Question with answer (PDF) (opens in a new tab)
• SQ26-000321 Lenders Mortgage Insurance.pdf (opens in a new tab)