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Lenders Mortgage Insurance (LMI)

Insurance that protects the lender (not the borrower) if a borrower defaults on a home loan. It�s typically required for high Loan-to-Value Ratio loans. (In NZ, LMI is uncommon; instead, banks may charge a low equity interest rate margin for borrowers with small deposits.)"

Financing & Mortgages

Insurance & Risk Management

Result

Confused by property jargon? Use this dictionary to look up definitions and learn the language of smart investing in New Zealand.

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