Simple question, why is it that LMI ( Lender mortgage Insurance ) can't be made transferable?
For example, I pay company "xyz" a insurance premium each year but I can have my loan with any bank, credit union or building society I like?
Personally, this is the only reason I'm still with one of the "Big 4" because the compound interest in changing banks and paying LMI again isn't worth it (or so I believe)
I've always thought if the government really wanted to help people ditch their greedy banks, somehow they could address this issue. Why can't it be done?
