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Lenders Mortgage Insurance (LMI) is a one-off insurance premium that protects the lender if you default on your home loan. It is typically required when your deposit is less than 20% of the property value. LMI can be paid upfront or capitalised into your loan. The cost varies depending on the loan amount and your deposit size.

You should consider refinancing when your current fixed rate period is ending, when interest rates have dropped significantly since you took out your loan, or when your financial situation has changed and you need to adjust your repayments. It is also a good time to refinance if you want to access equity for renovations, investments, or debt consolidation.

The refinancing process typically takes between two to four weeks from application to settlement, depending on the complexity of your situation and the lender’s processing times. Our team handles the majority of the paperwork and coordinates with both your existing and new lender to make the transition as smooth as possible.