WHAT IS MORTGAGE INSURANCE?  

Mortgage Insurance protects the lender in the event of a loan not being repaid and a security property is sold off to repay debts but is not sufficient to fully recover the loan.

This insurance protects the lender and not the borrower.

It is one off premium paid by the customer and with most lenders it only applies when the Loan to Value Ratio (LVR) is above 80%

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