Lenders Mortgage Insurance (LMI) is a type of mortgage insurance that a lender or bank takes out to insure itself against the risk of not recovering the full loan payments from the borrower. if you are borrowing more than 80% of your home's value then you may need to pay for Lenders Mortgage Insurance.
But if you don't want to pay LMI then there are some good ways to avoid paying it. Here is Lenders Mortgage Insurance Explained by Coronis Finance that will help you understand it completely.
