PMI in UK?

My husband was wondering if the UK requires PMI when purchasing property or do they have anything similar we should be aware of?
Thanks all
~Elizabeth~

In case it is a just a difference in terminology, PMI stands for?

Sorry, 'private mortgage ins.' 

what's it for?  what's the purpose of it?
maybe then we can tell you if we have it here...

From Wikipedia:


Lenders Mortgage Insurance (LMI), also known as Private mortgage insurance (PMI) in the US, is insurance payable to a lender or trustee for a pool of securities that may be required when taking out a mortgage loan. It is insurance to offset losses in the case where a mortgagor is not able to repay the loan and the lender is not able to recover its costs after foreclosure and sale of the mortgaged property.[1] Typical rates are $55/mo. per $100,000 financed[2], or as high as $1,500/yr. for a typical $200,000 loan[3].

Sounds like our High Lending Fee -- it's a fee you pay to the lender if you are borrowing a large portion of the value of the property -- like 90% or 95%.