Profession-Based LMI Waivers
Certain lenders waive LMI for borrowers in high-income professional occupations — recognising that professionals have lower default risk, stable income and strong long-term earning potential. Profession-based waivers allow eligible borrowers to purchase with 5–10% deposit and pay zero LMI.
Profession-based LMI waivers are one of the most valuable and underutilised concessions in lending. A doctor buying their first home with a 10% deposit would pay $28,000+ in LMI at most lenders — at a professional-waiver lender, that's $0. The profession list, LVR cap and minimum income requirements vary by lender — matching the right lender to your profession is exactly where broker expertise matters.
Eligible Professions (Typical)
Medical practitioners, GP, specialist, surgeon, dentist, veterinarian, pharmacist, optometrist, physiotherapist, chiropractor
Barrister, solicitor, judge, magistrate, legal partner
CPA, CA, CFA, actuary, financial adviser (licensed)
Registered engineer, mining professional (select lenders)
Senior executives (select lenders — income threshold applies)
Eligible profession lists vary by lender. We confirm your qualification as part of the assessment.
Typical Waiver Terms by Profession
| Profession | Max LVR | Min Income | LMI |
|---|---|---|---|
| Medical practitioner (specialist) | 95% | Varies | $0 |
| Medical practitioner (GP) | 90% | Varies | $0 |
| Dentist | 90% | Varies | $0 |
| Lawyer / Barrister | 90% | Varies | $0 |
| CPA / CA Accountant | 90% | Varies | $0 |
Combining Professional and Location Waivers
In some cases, profession-based waivers can be combined with location-based waivers — particularly for medical professionals purchasing in eligible premium postcodes. This can unlock the most favourable terms available. We assess all applicable waiver types simultaneously for every professional client.
LMI Saving Examples — Professional Buyers
- Specialist doctor, $1,500,000 property, 10% deposit ($150,000): LMI saving ~$79,658
- Lawyer, $1,200,000 apartment, 10% deposit ($120,000): LMI saving ~$63,726
- Accountant, $900,000 unit, 10% deposit ($90,000): LMI saving ~$47,795