Can lawyers borrow 95% without LMI?
Not through the standard legal-professional policies reviewed here. They currently top out at 89.99% or 90%. An eligible first home buyer may have a separate path through the Australian Government 5% Deposit Scheme.
How a lawyer LMI waiver works
A lawyer home loan is generally a normal home loan with one useful policy exception: an eligible legal professional may borrow above 80% without paying LMI. The waiver can preserve cash, but a larger loan still means larger repayments and more interest, so I compare the whole loan rather than the LMI saving alone.
- 80%
Where LMI often starts
Many borrowers pay LMI once the loan goes above 80% of the property value accepted by the lender.
- 89.99%
CBA and Bankwest
Their professional offers stop just below 90% under the policies reviewed.
- 90%
ANZ, NAB, Westpac and St George
This is the usual ceiling for eligible lawyers under their standard professional policies.
Who may qualify?
Depending on the lender, the category can include solicitors, barristers, law-firm partners, judges, magistrates, legal counsel and some government legal officers.
A current practising certificate is the usual starting point. A law degree or admission alone is not enough for every lender.
Do lawyers need a minimum income?
No single income rule applies to every lender. Some do not state a fixed minimum, while others require a set amount from your legal work.
| Lender | Minimum legal income |
|---|---|
| ANZ, NAB and Bankwest | No fixed dollar minimum is stated. You still need enough accepted income to afford the loan. |
| CBA | At least $100,000 a year from eligible legal work. |
| Westpac | At least $120,000 a year from eligible legal work. |
| St George | At least $120,000 a year from eligible legal work. |
Do lawyers need a minimum income?
ANZ, NAB and Bankwest
- Minimum legal income
- No fixed dollar minimum is stated. You still need enough accepted income to afford the loan.
CBA
- Minimum legal income
- At least $100,000 a year from eligible legal work.
Westpac
- Minimum legal income
- At least $120,000 a year from eligible legal work.
St George
- Minimum legal income
- At least $120,000 a year from eligible legal work.
How these rules worked for Sarah, Ben and Mia
Privacy note: These stories are based on customer examples previously published in this guide. Names and identifying details have been changed. Results depend on the customer, lender and property, so the stories do not guarantee approval.
Sarah and Ben: lawyer and retail-worker couple
Sarah is a lawyer earning $120,000. Ben works in retail and earns $55,000, taking their combined income to $175,000.
Sarah met CBA's $100,000 minimum and the Westpac and St George $120,000 minimum using her legal income alone. Ben's income could help with how much they borrowed, but it did not make Sarah eligible for the lawyer waiver.
Mia: buying in Queensland with a 10% deposit
Mia is a Queensland lawyer earning $165,000. She was looking at a $750,000 home and had saved $75,000.
On those figures, a 90% lawyer waiver could remove an estimated $17,588 in LMI. Mia still needed to cover duty, registration and the other purchase costs, so the deposit was not the full cash requirement.
Mia's example allowed $19,600 for duty, $3,150 for registration and $3,000 for legal, building and pest inspection costs, assuming no first-home concession. That brings the estimated funds required to $100,750 and leaves a $25,750 gap against her $75,000 savings. Government charges, professional fees, concessions, LMI pricing and lender policy must be refreshed before use.
Compare lawyer LMI-waiver lenders
I use these policy differences to build a shortlist. They are not an approval, and I confirm the current rules before recommending a lender or submitting an application.
The lender with the highest dollar limit is not automatically the best. Repayments, income treatment, property rules and total exposure can eliminate an otherwise attractive waiver.
Compare lawyer LMI-waiver lenders
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| Lender | Max without LMI | Income rule | Best fit | Main watch-out |
|---|---|---|---|---|
| ANZ Professional waiver | Up to 90% | No stated minimum | Owner-occupied or investment purchases and refinances | No family guarantee or bridging; owner-occupied IO capped at 80% |
| NAB Professional waiver | Up to 90% | Primary income from eligible legal work | New and subsequent lending; investment IO can qualify | Owner-occupied IO excluded; security and total exposure caps |
| CBA Professional offer | Up to 89.99% | $100,000 from eligible profession | PAYG lawyers using P&I and eligible standard products | MAV package required; no land, construction or low doc |
| Bankwest Professional offer | Up to 89.99% | No stated minimum | PAYG purchases, refinances and some construction/renovation | Foreign income, family guarantees and some properties excluded |
| Westpac Professional policy | Up to 90% | $120,000 from eligible profession | Owner-occupied or investment; some converting IO periods | Existing Westpac or St George lending may affect available exposure |
| St George Professional policy | Up to 90% | $120,000 from eligible profession | Owner-occupied or investment; some converting IO periods | Existing St George or Westpac lending may affect available exposure |
| UBank General no-LMI | Up to 90% | No profession test | Strong applications that miss a professional-policy rule | P&I above 80%; loans above 85% capped at $2m |
Legal-professional policy checked 26 August 2026. Lender rules and product availability can change, so I confirm the current position before you rely on it.
Open a lender for the detailed conditions
Law-firm partners can have a different pathway
Senior lawyers and equity partners should not assume the standard legal-professional policy is their only option.
The separate law-partner pathways from Westpac and St George can provide more room for high-value property and related entities than their standard professional policies. I compare the two lenders separately.
For each lender, the partner pathway may allow up to 90% where the security is worth no more than $5 million, maximum borrowing of $4.5 million where security is between $5 million and $5.6 million, and up to 80% above a $5.6 million security value.
Westpac and St George may each consider related company or trust structures, or a spouse or related entity holding the property where the qualifying partner is involved at least as a guarantor. I still check existing lending across both brands when confirming the available exposure. The policies reviewed do not require verification of 5% genuine savings.
Six catches that can change the lender shortlist
The headline 90% figure hides the conditions that most often decide whether the waiver actually works.
Check these issues before selecting a bank or offering on a property. A strong professional profile does not override the lender's purpose, property or repayment rules.
Interest-only repayments
CBA requires P&I. Bankwest generally does too. NAB and ANZ can allow eligible investment IO at 90%, but not owner-occupied IO. Westpac and St George may require conversion to P&I.
Self-employed income
CBA and Bankwest restrict the legal category to PAYG. A barrister, sole practitioner or partner may need ANZ, NAB, Westpac, St George or another pathway.
Building or renovating
CBA excludes land and construction. Bankwest can consider construction and renovation, subject to borrower, property and repayment conditions.
Family guarantee
ANZ does not combine its professional package with a family guarantee, and Bankwest excludes family support guarantees from this offer.
Foreign income
Bankwest excludes foreign income. Westpac and St George require income in Australian dollars under the legal policy, and other residency limits may apply.
Property restrictions
High-density, off-the-plan, regional, unusual or higher-value property can reduce the LVR or eliminate a lender even where the lawyer qualifies.
Evidence, ownership and visa structures
For most lawyers, a current practising certificate from the relevant state or territory body is the cleanest evidence.
Prepare these documents first
- Current practising certificate, judicial commission or accepted government-employment evidence
- Recent payslips and details of bonuses or allowances
- Tax returns and financials if self-employed or a partner
- Deposit evidence and current debt statements
- Property address or a clear description of what you plan to buy
Judges and magistrates
ANZ and CBA may use a commission, appointment letter, payslip or tax return. Westpac and St George do not require a practising certificate for judges.
Government lawyers
ANZ and NAB may accept alternative evidence of genuine current legal work. The role and documents still matter.
Spouse, trust or company
There is no universal 50% ownership rule. Some Westpac, St George and CBA structures can work.
Visa holders
Permanent residents and some approved temporary visa holders may qualify. Visa, income currency and property rules need a combined check.
If the lawyer waiver does not fit
A professional waiver is one route, not the only route. Compare it with the structure that best fits the household and property.
This can preserve more of your savings than a 90% lawyer waiver. There is no income cap, but buyer, occupancy, property-price and participating-lender rules apply.
Family equity can reduce or avoid LMI, but it is a separate structure with real obligations for the guarantor.
A non-profession option such as UBank may work where the legal evidence, income structure or purpose misses a waiver rule.
Standard loan with LMI
Paying LMI can still be rational if it opens a materially better lender, lets you buy sooner or produces the better overall result.
5% Deposit Scheme or lawyer waiver?
If you qualify for both, I compare the cash you keep with the loan you take on. A smaller deposit can leave a better buffer for purchase costs and emergencies, but it also creates a larger loan with higher repayments and more interest.
| Compare | 5% Deposit Scheme | Lawyer LMI waiver |
|---|---|---|
| Starting deposit | Minimum 5% of the lender-assessed property value. The lender may ask you to contribute more. | Usually about 10% plus purchase costs. |
| Who and what | First home buyer, or no Australian property ownership in the past 10 years; citizen or permanent resident; owner-occupied home under the local price cap. | Eligible legal professional who meets the lender's role, income, evidence, property and credit rules. |
| Loan choice | Participating lender, owner-occupied principal-and-interest loan. No income cap under the current scheme. | Owner-occupied or investment lending may be available, depending on the lender. |
| Main trade-off | May preserve more cash, but the larger loan increases repayments and interest. | Uses more deposit, but starts with a smaller loan and can suit purchases outside the scheme rules. |
5% Deposit Scheme or lawyer waiver?
Starting deposit
- 5% Deposit Scheme
- Minimum 5% of the lender-assessed property value. The lender may ask you to contribute more.
- Lawyer LMI waiver
- Usually about 10% plus purchase costs.
Who and what
- 5% Deposit Scheme
- First home buyer, or no Australian property ownership in the past 10 years; citizen or permanent resident; owner-occupied home under the local price cap.
- Lawyer LMI waiver
- Eligible legal professional who meets the lender's role, income, evidence, property and credit rules.
Loan choice
- 5% Deposit Scheme
- Participating lender, owner-occupied principal-and-interest loan. No income cap under the current scheme.
- Lawyer LMI waiver
- Owner-occupied or investment lending may be available, depending on the lender.
Main trade-off
- 5% Deposit Scheme
- May preserve more cash, but the larger loan increases repayments and interest.
- Lawyer LMI waiver
- Uses more deposit, but starts with a smaller loan and can suit purchases outside the scheme rules.
For the $750,000 Queensland example, location matters. The current cap is $1 million in Brisbane, the Gold Coast and the Sunshine Coast, but $700,000 in other Queensland areas. Check the official postcode price-cap tool and confirm the result with the participating lender.
How I compare the options
- Confirm the professional pathwayRole, practising evidence, PAYG or self-employed income, and any lender-specific threshold.
- Price the full cash positionDeposit, duty, registration, legal costs, inspections and a current lender-specific LMI estimate.
- Check the purpose and propertyOwner-occupied or investment, repayment type, ownership entity, postcode, property type and valuation.
- Compare the whole loanBorrowing capacity, rate, fees, offset and redraw, approval conditions and total exposure.
Related guides
Common questions from lawyers
The nine questions most likely to affect your shortlist. Open only the detail you need.
Experience and sources
How this guide was checked
I reviewed the legal-professional lending policies used for this guide on 26 August 2026. On 1 September 2026, I rechecked the official public information below, the Australian Government 5% Deposit Scheme and the professional bodies that issue or oversee practising certificates.
Important: a lender's public LMI page does not always publish its full lawyer-waiver policy. The links below support the public information they contain. I still confirm the current credit policy and your eligibility before recommending an application.
Director and mortgage broker
I've worked in mortgage broking since 2011 and hold Diploma and Certificate IV qualifications in finance and mortgage broking. Hunter Galloway Finance Pty Ltd is Credit Representative 476903, authorised under Australian Credit Licence 389328.
Official lender and government sources
- NAB LMI waiver — names eligible legal professionals and accepted professional bodies.
- ANZ LMI guide — notes that legal professionals may qualify for an LMI waiver.
- CommBank low-deposit options — notes that eligible lawyers may avoid LMI.
- Westpac deposit guide — publishes professional-waiver evidence requirements for lawyers, solicitors and barristers.
- St George property-investor guide — publishes professional-waiver eligibility details for lawyers, solicitors and barristers.
- Bankwest LMI fact sheet — general LMI information; it does not publish the full lawyer policy.
- UBank no-LMI home loans — a general no-LMI alternative, not a lawyer waiver.
- Australian Government 5% Deposit Scheme — official eligibility, participating-lender and property-cap tools.
- Law Council of Australia — national list of constituent legal-profession bodies.
Customer stories: Sarah, Ben and Mia are changed names, and identifying details have been changed for privacy. The figures come from customer examples previously published in this guide and must be recalculated before use.
Do we get paid more to recommend a lawyer-waiver lender?
Hunter Galloway is independently owned and is not connected to any lender. Most major lenders we use pay broadly similar commissions, and we disclose the amount before you proceed.
We compare more than 30 lenders and must act in your best interests. Read how we review lenders or the ASIC best-interests guidance.
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Tell me your legal role, income structure, deposit and the type of property you plan to buy. I can compare the waiver, borrowing capacity, property rules, repayments, rates and fees across the lenders that genuinely fit.