October 05, 2015
What is Lenders Mortgage Insurance?
Lenders Mortgage Insurance, or LMI, is insurance that protects the LENDER, not you. It's usually a one-off payment made by the borrower at the time of loan settlement.
Do I have to pay for LMI?
With a residential mortgage, as a rule of thumb, you would usually be asked to pay for LMI if your loan to valuation ratio (LVR) is over 80%. That's when the amount of money you're looking to borrow is more than 80% of your property's assessed value.
Why do I have to pay for LMI?
If you don’t pay for LMI and you have less than 20% deposit, then most lenders won't lend you the required funds. LMI is a safety net offered to the lender in the event of a forced sale where the sale price does not fully pay out the debt.
How does LMI benefit me?
By paying LMI, the risk to the lender is reduced, and you can get your desired property without having to wait and save up for the full 20% deposit, so in a sense it's a win-win situation!
So why not contact a Mortgage Choice broker today on 07 3349 5999 and get expert home loan advice at no cost to you?
借錢買房時, 如果借貸超過房價80%的話大致上就會需要繳Lenders Mortgage Insurance (LMI) - 房貸保險. 房貸保險的用處是在貸款方無法償還債務時保護到銀行的權益(注意: 不是繳交保費的客戶). 這保險多數是由QBE及Genworth兩家保險公司提供. 保費是按物業價格計算 , 並且隨著借貸的成數逐步升高的 - 成數越高增加的速度越快.
銀行通常會允許客戶連同房貸本身一起借LMI, 叫做LMI Capitalisation. 但也是有貸款成數的限制.
比方說買自住房Bankwest在客戶自己付LMI的情況下最多可以借到房價的95%, 但如果連LMI一併借的話最多可以借到99.9%. Westpac來說則是95% / 97%.
另外得附帶一提的是借貸成數高的時候銀行借款的條件也較嚴峻. 最主要是會要求客戶提出5%的"Genuine Savings"來證明他們有能力打理財務. 多數銀行的Genuine Savings是要看到存款在三個月內增加到房價的5%以上, 或者是現有的存款已經在帳戶存放超過三個月.
當然可貸款的成數, 貸款條件, LMI及Genuine Savings Policy是會隨著時間改變的, 而且各家銀行之間也盡不相同.
如果可以避免繳交LMI那會替自己省下一小筆錢. 但資金有限, 無法到達標準兩成自備款時(還得加入其他像是印花稅的費用), LMI也不外乎是一項有利的工具