Lenders Mortgage Insurance (LMI) is a one-off insurance premium charged by lenders when your deposit is less than 20% of a property’s value.
It protects the lender — not you — if you default on your loan.
If you’re borrowing more than 80% of the property’s value (which is called a high LVR loan), you’ll typically be required to pay LMI.
LMI is most common among:
First home buyers with small deposits
Borrowers using 5–15% deposits
Applicants without a guarantor
Self-employed or casual income earners without full documentation
While it can cost thousands, LMI allows you to enter the market sooner without waiting years to save a 20% deposit.
Yes — here’s how:
Yes — in many cases, paying LMI can be smarter than waiting years to save 20%.
At Flenley Financial Group, we help you weigh up the cost of LMI vs the cost of delaying.
When you work with Flenley, the lender pays us — not you.
✔ No client fees
✔ No hidden costs
✔ Just expert advice on whether LMI is worth it for your situation
At Flenley Financial Group, we:
Access to 340+ lenders, including those with flexible LMI rules
Guidance on government schemes and LMI waivers
Expertise in low deposit lending and guarantor loans
Clear, honest advice — always tailored to your goals
Get a quick estimate now
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Or call us directly at 0461 559 105 to learn how to minimise or avoid LMI and still get into the market confidently.
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