From this document, it looks as though LMI is refunded if the loan is discharged within 2 years (ie. from sale). Am I reading that correctly?
If so, I've got a question for Brady. Does CBA's "Low Deposit Premium" have a similar refund?
I did manage to get a refund for a client once, I think it was back in 2005.
Since then I haven't managed to do it again or heard of similar. A few lenders even let it be known that whilst the insurer may give a refund, they wouldn't pass it onto the borrower.
I don't believe CBAs LDP has a refund either, but to be fair, I can't think of a recent occasion where it would have been worth asking.
It would be great if LMI was refunded, especially after its been claimed as a tax deduction lol,
That would be nice. Even better, you should declare the refund of the LMI premium!