Westpac · LMI waiver
Westpac LMI waiverto 95% LVR
3 profession groups, $90,000 a year for the 90% tier; none for the 95% medical tier.
Westpac calls it the Medico and industry LMI waivers and waives lenders mortgage insurance up to 95% LVR for: 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. 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. Evidence: Professional qualifications are verified with the application; nurses and midwives must be registered. The accrediting bodies are not named on the public pages. We read Westpac’s own page on 3 November 2026 and quote it below.
Westpac’s own policy page- Max LVR, no LMI
- 95%
- Income test
- $90,000 a year for the 90% tier; none for the 95% medical tier
- Professions
- 3
- Last checked
- 3 November 2026
In Westpac’s words
From the page we read, so you can check us.
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.”
What the waiver is worth
On a $720,000 loan at 95% LVR, the insurance Westpac is waiving would be roughly $30,240, a one-off premium that is usually capitalised into the loan and paid off with interest over the term. The estimate is from the insurers’ published tables, and the borrowing pages show what the deposit you keep does to how much you can borrow.
By profession
Whether Westpac lists each one, and who else does.
Every other lender
Who else publishes a waiver, as at 3 November 2026.
Questions
Does Westpac waive LMI for professionals?
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. Its 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." Checked 3 November 2026.
Which professions does Westpac include?
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. That is Westpac's own wording, which matters: "medical practitioners" and "health professionals" are different lists at different banks.
What is the Westpac LMI waiver income requirement?
$90,000 a year for the 90% tier; none for the 95% medical tier. 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.
What evidence does Westpac need?
Professional qualifications are verified with the application; nurses and midwives must be registered. The accrediting bodies are not named on the public pages.
Does another lender go higher than Westpac?
Not among the lenders we read: Westpac's 95% is the highest published.
Checked against Westpac’s own page on 3 November 2026. Policies change without notice; if something here doesn’t match what they’ve told you, theirs is right and we’d like to know.
Applying to Westpac?
A broker at 1st Street can confirm the policy applies to you before you apply, and whether another lender gives you the waiver and a better rate.
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