What is Lenders Mortgage Insurance (LMI)?

Lenders Mortgage Insurance (LMI) is a one-off, non-refundable, industry-standard premium that protects investors and funders against loss that may be incurred if you are unable to repay your home loan. The cost of the LMI can be factored into the total finance facility.

Hejaz’s Sharia Advisors have approved the use of LMI on the basis that it is mandatory in the industry, particularly for higher risk financing where the amount of finance provided is in excess of 80% of the property purchase price.