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Compare QBE LMI

QBE Logo

Home Loan Experts’ Review:
four.five star4.5out of5stars

Founded: QBE acquired PMI LMI in 2008

Owned by: ASX Listed

Financial Strength: Standard & Poor’s A+
Fitch A+

Lenders they support: National Australia Bank (NAB)
Adelaide Bank
BankWest
Suncorp
Australian First Mortgage (AFM)

Max LVR: 95% LVR

LMI Capitalisation: 97% LVR

LMI Premiums: Compare using our LMI calculator

QBE’s Lenders Mortgage Insurance (LMI) has been operating for close to 50 years and, during that time, they’ve developed their insurance policy in way that allows them to approve more customers with low deposits than some other LMI providers.

QBE really understands the situations of everyday Australians and they’re continually updating their policies to fit those profiles.

They also offer Delegated Underwriting Authorities (DUAs) to a number of banks across Australia which means you can get your home loan application approved a lot faster.

QBE services lenders across Australia and Hong Kong and operate as a wholly-owned subsidiary of QBE Insurance Group, one of Australia’s largest insurers and in the top 20 in the world.

How does QBE’s LMI compare?

They’re great at…

But they’ve got some drawbacks…

Talk to one of our expert mortgage brokers to find out if QBE is right for you.
Call us on 1300 889 743 or complete our free assessment form.

Common sense vs credit score

QBE is known for having one of the strictest credit scores in Australia. Unfortunately, if you don’t pass their credit score then you’re unlikely to get approved.

It’s unfortunate as smaller lenders have to send applications to QBE for approval. Larger lenders like NAB actually have the authority to approve loans on behalf of QBE so don’t face the same problems.

If you’re outside of QBE’s policy then apply with another lender, it’s unlikely that they will make an exception.

Will QBE offer you the most competitive LMI rate?

Not sure which home loan is right for you? Our Home Loan Experts can help!

Talk to one of our mortgage brokers by calling us on 1300 889 743 or complete our free assessment form.

  • Edgar

    We are a $300k single salary family looking to get a home loan at 88% of the property value. We were knocked back for LMI by QBE through Bankwest, settling on property soon. We need urgent and rapid assistance to find a lender for our situation!

  • Hi Edgar,

    QBE have very strict credit scoring, which can sometimes cause home loans to be declined even when things look fine or are within their policy completely. We’d need to look at your situation in full to work out the best way forward. Please call us on 1300 889 743. You can also use our Credit Score Calculator to find out what the likely problem QBE had was:
    https://www.homeloanexperts.com.au/mortgage-calculators/credit-score-calculator/