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Answer
What is lenders mortgage insurance?
	Lenders Mortgage Insurance (LMI) is usually levied if the loan is more than 80% of the value of the property. It is paid by the borrower (you) and covers the lender in the event of loan default or if the house is sold for less than the amount owed under the mortgage.

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Austral is a member of the Mortgage & Finance Association of Australia (formerly MFAA), the professional body for the mortgage industry.