Helia LMI: How It Works and What It Costs

Who is Helia?

Helia is an Australian lenders mortgage insurer. Its LMI is issued by Helia Insurance Pty Ltd (ABN 60 106 974 305), part of Helia Group Ltd, which is listed on the ASX as HLI.

APRA's register lists the insurer as formerly Genworth Financial Mortgage Insurance Pty Ltd, so Genworth LMI and Helia LMI are the same insurer.

How big is Helia now?

Helia had about 51% of the in-force LMI market at 30 September 2025, its 2025 annual report says. Then CommBank, about 44% of Helia's 2025 premium, left when its contract expired on 31 December 2025. Helia's premium written in the first half of 2026 fell 44% on a year earlier, which it put down to losing CommBank and to the 5% Deposit Scheme. Fitch (10 September 2026) now calls Arch the largest LMI provider by gross written premium.

How does Helia price LMI?

Helia says its LMI fee is typically 1% to 2% of the loan, depending on the size of your deposit and how much you borrow. It publishes no rate table.

Those factors are your LVR (loan-to-value ratio: the loan as a share of the property's value) and the loan amount. The 1% to 2% is typical, not a ceiling: lender-published figures typically run about 2.0% of the loan at 90% LVR and 4.2% at 95%. Helia has its own LMI fee estimator, reached from its homepage: Helia (LMI fee estimator page, helia.com.au). This site does not use its results.

Owner-occupiers and investors

Helia insures both, and its underwriting guidelines (effective 10 August 2026) cap each at 95% LVR, measured differently. For a home you live in, the premium can be added on top, up to 100% in total. For an investment, the 95% includes the premium. Loans above 90% LVR need 5% in deposit funds, and the August 2026 update dropped the rule that investment loans above 90% must be principal and interest.

How you can pay

Upfront at settlement, or added to the loan. Some lenders, such as Gateway Bank, also offer Helia's Monthly Premium LMI, paid each month until your LVR falls below a level the lender sets.

What does Helia LMI cost? An independent estimate

Helia publishes no rate table, and this site does not use Helia's estimator, so these figures are not Helia's. On a $500,000 home with a 10% deposit, lenders' published figures put LMI at about $9,000, within a likely range of $6,700 to $11,900 before state duty. With a 5% deposit, the typical figure is about $20,000.

Built from 27 LMI figures published by 8 Australian lenders. NSW and the ACT charge no duty on LMI; the other states add 9% to 11% of the premium. Your lender and its insurer set the actual premium.

The same range runs our LMI calculator. For the method and the figures behind it, see how LMI is calculated.

Which lenders use Helia?

As at 29 September 2026, five lenders name Helia, and CommBank used it for new loans until January 2026. Helia publishes no full list of its lenders.

A CommBank loan insured before 2026 most likely stays with Helia, which expects to keep earning from those policies for about 15 years. Ask CommBank to confirm, and see our CBA LMI calculator for its rules. The Westpac group uses Arch (Westpac LMI calculator), ANZ insures its own loans (ANZ LMI calculator), and ANZ-owned Suncorp Bank uses QBE (QBE LMI).

Can you get a Helia LMI refund?

Possibly, if you repay the whole loan within two years, but it depends on your lender. Nothing is paid if repayments were missed or the loan is in default.

Why some Helia lenders refund nothing

BOQ and ING both say their LMI is not refundable. Helia's lender guidelines let a lender take a lower premium rate instead of refunds; neither bank says whether it does. The guidelines also rule out refunds under $500, and Helia sends refund questions to your lender. Other insurers' and banks' refund terms sit side by side in our guide to lenders mortgage insurance.

What is Helia Family Assistance?

Family Assistance takes 15% off your Helia LMI fee when a family member pays it upfront at settlement.

Helia's May 2026 fact sheet sets the rules:

• any family member can pay, not only parents, for a home or an investment
• it also covers top-ups and refinances, if the fee is paid rather than added to the loan
• your lender must confirm the arrangement with you
• it is available through a number of lenders, so ask yours.

BOQ offers the same 15%. On a $600,000 home with a 10% deposit, lender-published figures typically put LMI at about $10,800. If Helia's fee on your loan were that amount, 15% off would save $1,620. The discount is new: Helia's 2022 fact sheet had none, so older articles may leave it out.

What happens to Helia LMI if you top up or move?

A top-up means a new fee with credit for what you paid before, and a property swap costs nothing extra if the loan and LVR do not rise.

Topping up

Helia prices the balance plus the top-up at the new LVR and deducts premiums already paid to Helia, so you pay the difference or the minimum. If Helia did not insure the original loan, there is no credit.

Moving to a new property

If the loan and LVR stay the same or fall, there is no fee, no extra premium and no refund. If either rises, a new premium replaces the old policy. Where a change reduces Helia's exposure, its guidelines refund 80% of the premium within three months, 70% within a year and 50% within two years.

Who does Helia LMI protect?

The lender. Helia says LMI protects credit providers, not home buyers.

If you default and the sale of the property does not cover what you owe, including sale costs, your lender claims the shortfall from Helia. Helia's website says it can act as a credit provider under the doctrine of subrogation, the rule that lets an insurer that has paid a claim step into the lender's place. The Insurance Council of Australia says an LMI insurer may then recover the shortfall from the borrower. If repayments are a struggle, Helia says to contact your lender early.

How do you get your real Helia LMI figure?

From your lender or broker. The lender arranges Helia's LMI, so only its quote on your actual loan is exact.

1. Ask whether the lender insures with Helia. For a new CommBank loan the insurer is Arch.
2. Ask for the fee including GST and your state's duty, and whether you can pay upfront or add it to the loan.
3. If family can pay the fee at settlement, ask whether the lender offers Family Assistance.
4. Ask whether the lender pays Helia's refund scale or, like BOQ and ING, refunds nothing.
5. Check whether you need LMI at all: see how to avoid LMI.

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