LMI waiver · September 2026
9 of 16 lenders waive it for listed professions, up to 95% LVR.
ANZ, Westpac, St.George, Bank of Melbourne and BankSA go to 95% with no insurance. CommBank, Bank of Queensland and Suncorp Bank stop at 90%. Ubank and Macquarie say they have no profession waiver. Bankwest, ING, ME Bank, Bendigo Bank and AMP Bank publish nothing either way. We read each lender’s own policy page on 22 September 2026and quote it below, with the professions in the lender’s words, the income test and the evidence. On a $720,000 loan at 90% the waiver is worth about $15,840.
How many lenders include each profession, and the page for it.
The LVR you can borrow to without insurance, the income test, and who qualifies, in each lender’s own words.
| Lender | Max LVR, no LMI | Income test | Professions |
|---|---|---|---|
| ANZ | 95% | no minimum income | 95% LVR: medical practitioners, dental practitioners and specialists; 90% LVR: physiotherapists, chiropractors, optometrists and vets; 90% LVR: lawyers, solicitors, barristers, judges and magistrates; 90% LVR: accountants with current CA ANZ, CPA, CFA Institute or FIAA membership |
| Westpac | 95% | $90,000 a year for the 90% tier; none for the 95% medical tier | 95% LVR, no income test: dentists, GPs, hospital-employed doctors (intern, resident, registrar, staff specialist), medical specialists; 90% LVR, $90k income: audiologists, chiropractors, midwives, occupational therapists, optometrists, osteopaths, pharmacists, physiotherapists, podiatrists, psychologists, radiographers, registered nurses, sonographers, speech pathologists, veterinary practitioners; 90% LVR (broker policy): accounting and legal professionals |
| St.George | 95% | $90,000 a year for the 90% tier; none for the 95% medical tier | 95% LVR, no income test: dentists, GPs, hospital-employed doctors (intern, resident, registrar, staff specialist), medical specialists; 90% LVR, $90k income: audiologists, chiropractors, midwives, occupational therapists, optometrists, osteopaths, pharmacists, physiotherapists, podiatrists, psychologists, radiographers, registered nurses, sonographers, speech pathologists, veterinary practitioners; 90% LVR (broker policy): accounting and legal professionals |
| Bank of Melbourne | 95% | $90,000 a year for the 90% tier; none for the 95% medical tier | 95% LVR, no income test: dentists, GPs, hospital-employed doctors (intern, resident, registrar, staff specialist), medical specialists; 90% LVR, $90k income: audiologists, chiropractors, midwives, occupational therapists, optometrists, osteopaths, pharmacists, physiotherapists, podiatrists, psychologists, radiographers, registered nurses, sonographers, speech pathologists, veterinary practitioners; 90% LVR (broker policy): accounting and legal professionals |
| BankSA | 95% | $90,000 a year for the 90% tier; none for the 95% medical tier | 95% LVR, no income test: dentists, GPs, hospital-employed doctors (intern, resident, registrar, staff specialist), medical specialists; 90% LVR, $90k income: audiologists, chiropractors, midwives, occupational therapists, optometrists, osteopaths, pharmacists, physiotherapists, podiatrists, psychologists, radiographers, registered nurses, sonographers, speech pathologists, veterinary practitioners; 90% LVR (broker policy): accounting and legal professionals |
| CommBank | 90% | None stated | Doctors; Lawyers; Accountants |
| Bank of Queensland | 90% | None stated | Doctors, dentists, veterinarians and accountants (through BOQ Specialist) |
| Suncorp Bank | 90% | None stated | Medical practitioners with current AHPRA general or specialist registration |
| NAB | Not stated | None stated | AHPRA-registered medical professionals: anaesthetists, chiropractors, dental practitioners, dermatologists, GPs, obstetricians and gynaecologists, ophthalmologists, optometrists, paediatricians, pathologists, pharmacists, physicians, physiotherapists, psychiatrists, radiation oncologists, radiologists, surgeons, veterinary practitioners; Financial professionals: accountants (CA, CPA, IPA), actuaries (FIAA), financial analysts (CFA); Legal professionals: barristers, lawyers and solicitors |
| Bankwest | Not published | — | — |
| ING | Not published | — | — |
| Ubank | No waiver | — | — |
| Macquarie | No waiver | — | — |
| ME Bank | Not published | — | — |
| Bendigo Bank | Not published | — | — |
| AMP Bank | Not published | — | — |
Green rows are the highest LVR. Lender names link to our page on that lender where there is one, otherwise to the page we read. “Not published” means the lender’s site is silent; brokers can often access a policy the consumer site doesn’t show.
One sentence from each policy page, then the evidence and conditions.
CommBank — LMI waiver
“Are you a doctor, lawyer or accountant? Speak to a Home Lending Specialist to check if your profession is eligible for a LMI waiver with a deposit of as little as 10%.” CommBank publishes only the deposit: as little as 10%, which is 90% LVR. The income test, the evidence, whether investment loans qualify and the full profession list are not on its site; it says to ask a Home Lending Specialist.
ANZ — ANZ LMI Waiver
“If your customer is an eligible medical professional and applies for new or increased lending and has a loan to value ratio (LVR) of up to 95% (as assessed by ANZ), ANZ will waive the premium on the Lenders Mortgage Insurance for that loan.” Evidence: Current AHPRA general or specialist registration for medical and dental (provisional, limited and non-practising registration don't qualify); state registration for vets; a current practising certificate for lawyers; proof of institute membership for accountants. The 95% tier assumes an owner-occupier principal-and-interest loan with a debt-to-income ratio under 6; investment and interest-only are available on different deposits. Loan up to $4.75m for medical, $4.5m for the rest, and the applicant must hold at least an equal share of the property. Not on ANZ Plus loans. Nurses, midwives, pharmacists, psychologists, podiatrists and osteopaths are listed as ineligible.
Westpac — Medico and industry LMI waivers
“Medico - 95% LVR+ LMI waiver: Dentists, General Practitioners, Hospital-employed Doctors (Intern, Resident, Registrar, Staff Specialist), Medical Specialists. Medico - 90% LVR+ LMI waiver: Minimum income threshold of $90,000 per annum.” Evidence: Professional qualifications are verified with the application; nurses and midwives must be registered. The accrediting bodies are not named on the public pages. Maximum loan $5m, $7.5m total lending with a waiver. The 90% tier can't be combined with Fast Track. Whether investment loans and packages qualify is not stated on the public pages.
NAB — LMI waivers for medical and professional services
“This waiver is subject to eligibility criteria dependent on profession, loan type and loan-to-valuation (LVR) ratio thresholds. Must be practicing in an acceptable field and a current registered member of the Australian Health Practitioner Regulation Agency (AHPRA).” Evidence: Current AHPRA registration for medical professions; current membership of CA, CPA, IPA, FIAA or the CFA Institute for financial professions; a current practising certificate for legal professions. NAB publishes the profession lists and the registration bodies but not the maximum LVR, an income test or a loan cap; it says eligibility depends on profession, loan type and LVR thresholds and directs you to a lender or broker.
St.George — Medico Policy and Industry Specialisation Policies
“No minimum income is needed for these professions, with a maximum LVR of up to 95%, with no LMI. Dentist, General Practitioners, Hospital-employed Doctors (Intern, Resident, Registrar, Staff Specialist), Medical Specialists (as per the Medical Board of Australia).” Evidence: Medical specialists as defined by the Medical Board of Australia; self-employed and casual professionals in the listed fields are included. Registration documents are not specified on the consumer page. Applies to variable and fixed loans, owner-occupied or investment. Maximum loan $5m, $7.5m total lending with a waiver. The 90% tier can't be combined with Fast Track self-employed assessment; self-employed medicos still get the 95% waiver.
Bank of Melbourne — Medico Policy and Industry Specialisation Policies
“Those in the listed healthcare and emergency service professions can apply for up to 90% LVR with no LMI, and must have a minimum income of $90k per year.” Evidence: Medical specialists as defined by the Medical Board of Australia; self-employed and casual professionals in the listed fields are included. Applies to variable and fixed loans, owner-occupied or investment. Maximum loan $5m, $7.5m total lending with a waiver. The 90% tier can't be combined with Fast Track self-employed assessment; self-employed medicos still get the 95% waiver.
Bankwest — Industry Professional LMI waiver
“Industry Professional LMI waiver: ensure application meets policy, and LMI waiver is requested by providing commentary and supportive evidence via the Broker Portal.”
ING
“LMI is payable where your deposit is less than 20% of the value of the property.” Also: The First Home Guarantee and guarantor loans, as the published routes to no LMI.
Ubank
“We don't charge LMI at Ubank but you can still apply for an owner occupied home loan repaying principal and interest even if you have a deposit or equity as low as 15%.” Also: Ubank charges no LMI to anyone: owner-occupied and investment principal-and-interest purchases from a 10% deposit, owner-occupied refinances with 15% equity, capped at $2m when LVR is over 85%.
Bank of Queensland — BOQ Specialist no-LMI lending
“You may be able to borrow up to 90% of your property's value and avoid paying lenders mortgage insurance (LMI).” Published by BOQ Specialist, a division of Bank of Queensland, not on boq.com.au. Stated conditionally and subject to credit approval; the Banking Package carries a $495 annual fee. Whether the 90% applies to investment loans, and any income test or evidence, is not published. Also: Mainstream BOQ: a 15% LMI discount when a family member pays the premium upfront, and the Family Guarantee for first home buyers.
Macquarie
“Macquarie doesn't offer LMI waivers, or the equivalent for the LDF, for home loans with an LVR greater than 80%.” Also: Macquarie charges a Low Deposit Fee instead of LMI above 80% LVR and says plainly it waives neither. Its professional list (accountants, actuaries, lawyers, medicos, engineers, vets, architects, pharmacists and others) only relaxes self-employed income verification, capped at 80% LVR.
BankSA — Medico Policy and Industry Specialisation Policies
“No minimum income is needed for these professions, with a maximum LVR of up to 95%, with no LMI. Dentist, General Practitioners, Hospital-employed Doctors, Medical Specialists (as per the Medical Board of Australia).” Evidence: Medical specialists as defined by the Medical Board of Australia; self-employed and casual professionals in the listed fields are included. Applies to variable and fixed loans, owner-occupied or investment. Maximum loan $5m, $7.5m total lending with a waiver. The 90% tier can't be combined with Fast Track self-employed assessment; self-employed medicos still get the 95% waiver.
Suncorp Bank — LMI waiver for eligible medical professionals
“At least one borrower is an eligible Medical Practitioner at time of the loan application and registered with AHPRA, the loan amount is between $250,000 and $1,500,000, the Loan to Value Ratio (LVR) is between 80.01% and 90%.” Evidence: Current AHPRA general or specialist registration, verifiable on the register at application; provisional, limited and non-practising registration don't qualify. At least one borrower must be the medical practitioner. LVR between 80.01% and 90%, loan between $250,000 and $1.5m, principal and interest only, purchase or refinance, owner-occupied or investment, on the Standard Variable, Back to Basics or Fixed loans with no package required. Excludes pre-approvals, bridging, construction and refinancing an existing Suncorp loan. Only medical practitioners: no dentists, vets, nurses or non-medical professions.
ME Bank
“You'll need to pay an extra fee to cover lenders mortgage insurance if you're borrowing more than 80% of the property's value.” Also: A $2,000 cashback on loans over 80% LVR where LMI is paid, which is a cashback rather than a waiver.
Bendigo Bank
“The LVR is inclusive of capitalised LMI. LVR is subject to LMI acceptability, location and loan purpose.” Also: The 5% deposit first home buyer and 2% deposit single-parent government schemes, which avoid LMI through the guarantee rather than a waiver.
AMP Bank
“Maximum LVR is 80% (P&I or I/O).” Also: A $2,000 LMI rebate ran from June to August 2024 and has expired.
Lenders mortgage insurance protects the lender, not you, and you pay for it whenever the loan is more than 80% of the property’s value. The premium runs to tens of thousands at 95%. Banks waive it for professions whose income is stable and high, because the default risk they are insuring against is lower, and because those borrowers are worth competing for. The policies are real but they are written for brokers, which is why the consumer sites say so little.
Three things decide whether it works for you. The profession list, which is narrower than “health professionals” suggests. The income test, which is where junior doctors and graduate lawyers fall out. And the LVR cap, which is 90% at most lenders and 95% at a few, and often lower for investment. What the premium would have been is on the LMI calculator; how much you could borrow with it gone is on the borrowing pages.
Medical practitioners are on every list that exists. Beyond that it varies by lender: doctors at 9 lenders, nurses at 4 lenders, teachers at 0 lenders, lawyers at 7 lenders, accountants at 8 lenders, engineers at 0 lenders, as at 22 September 2026. Each lender's own wording is in the table, because "health professionals" at one bank means doctors only and at another includes physiotherapists.
Yes. NAB lists: AHPRA-registered medical professionals: anaesthetists, chiropractors, dental practitioners, dermatologists, GPs, obstetricians and gynaecologists, ophthalmologists, optometrists, paediatricians, pathologists, pharmacists, physicians, physiotherapists, psychiatrists, radiation oncologists, radiologists, surgeons, veterinary practitioners; Financial professionals: accountants (CA, CPA, IPA), actuaries (FIAA), financial analysts (CFA); Legal professionals: barristers, lawyers and solicitors. NAB's own page says: "This waiver is subject to eligibility criteria dependent on profession, loan type and loan-to-valuation (LVR) ratio thresholds. Must be practicing in an acceptable field and a current registered member of the Australian Health Practitioner Regulation Agency (AHPRA)." NAB publishes the profession lists and the registration bodies but not the maximum LVR, an income test or a loan cap; it says eligibility depends on profession, loan type and LVR thresholds and directs you to a lender or broker. Checked 22 September 2026.
Yes, up to 90% LVR. CommBank lists: Doctors; Lawyers; Accountants. CommBank's own page says: "Are you a doctor, lawyer or accountant? Speak to a Home Lending Specialist to check if your profession is eligible for a LMI waiver with a deposit of as little as 10%." CommBank publishes only the deposit: as little as 10%, which is 90% LVR. The income test, the evidence, whether investment loans qualify and the full profession list are not on its site; it says to ask a Home Lending Specialist. Checked 22 September 2026.
Yes, up to 95% LVR with no minimum income. ANZ lists: 95% LVR: medical practitioners, dental practitioners and specialists; 90% LVR: physiotherapists, chiropractors, optometrists and vets; 90% LVR: lawyers, solicitors, barristers, judges and magistrates; 90% LVR: accountants with current CA ANZ, CPA, CFA Institute or FIAA membership. ANZ's own page says: "If your customer is an eligible medical professional and applies for new or increased lending and has a loan to value ratio (LVR) of up to 95% (as assessed by ANZ), ANZ will waive the premium on the Lenders Mortgage Insurance for that loan." The 95% tier assumes an owner-occupier principal-and-interest loan with a debt-to-income ratio under 6; investment and interest-only are available on different deposits. Loan up to $4.75m for medical, $4.5m for the rest, and the applicant must hold at least an equal share of the property. Not on ANZ Plus loans. Nurses, midwives, pharmacists, psychologists, podiatrists and osteopaths are listed as ineligible. Checked 22 September 2026.
Bankwest doesn't publish a profession waiver on its own site. Brokers can often access one; ask before you rule it out. Checked 22 September 2026.
Yes, up to 95% LVR with $90,000 a year for the 90% tier; none for the 95% medical tier. Westpac lists: 95% LVR, no income test: dentists, GPs, hospital-employed doctors (intern, resident, registrar, staff specialist), medical specialists; 90% LVR, $90k income: audiologists, chiropractors, midwives, occupational therapists, optometrists, osteopaths, pharmacists, physiotherapists, podiatrists, psychologists, radiographers, registered nurses, sonographers, speech pathologists, veterinary practitioners; 90% LVR (broker policy): accounting and legal professionals. Westpac's own page says: "Medico - 95% LVR+ LMI waiver: Dentists, General Practitioners, Hospital-employed Doctors (Intern, Resident, Registrar, Staff Specialist), Medical Specialists. Medico - 90% LVR+ LMI waiver: Minimum income threshold of $90,000 per annum." Maximum loan $5m, $7.5m total lending with a waiver. The 90% tier can't be combined with Fast Track. Whether investment loans and packages qualify is not stated on the public pages. Checked 22 September 2026.
On a $720,000 loan at 90% LVR, lenders mortgage insurance is roughly $15,840; at 95% LVR roughly $30,240. It is a one-off premium, usually added to the loan, so you pay interest on it for thirty years as well. A waiver removes the whole figure. The LMI calculator gives the estimate for your own numbers.
CommBank, NAB, Bank of Queensland and Suncorp Bank publish no income test. Where there is one it runs from $90,000 to $90,000, sometimes sole and sometimes combined. The income test is the thing that catches junior doctors and graduate lawyers: the profession qualifies but the salary doesn't yet.
At some lenders. Most policies apply to owner-occupied and investment loans alike, but a few limit the waiver to the home you live in, and the LVR cap is often lower for investors. The conditions column says which, in the lender's own words.
Proof you are what you say: AHPRA registration for medical and nursing professions, a current practising certificate for lawyers, CPA or CA ANZ membership for accountants, Engineers Australia membership for engineers, and payslips for the income test. Some lenders want the registration to be current at settlement, not just at application.
Checked 22 September 2026against each lender’s own policy page, linked in the table; re-read monthly. Lenders change profession lists, income tests and LVR caps without notice, so confirm with the lender before you rely on a row. The LMI estimates are a guide from insurers’ published tables, not a quote. Arthr Pty Ltd provides marketing and lead-generation services only; credit assistance is provided by 1st Street Pty Ltd, Credit Representative 490057 under Australian Credit Licence 389328.
A broker at 1st Street can see every lender’s credit policy, including the waivers the consumer sites don’t show, and which one gives you the rate as well.