Home loans for lawyers: the LMI waiver, and who it covers
Lawyers with a current practising certificate can borrow about 90% of a property's value with no lenders mortgage insurance (LMI) at ANZ, CommBank, Westpac Group, NAB and Bankwest. The certificate is the gate; what differs is the income floor and how each lender treats partners, barristers and newly admitted lawyers. ANZ and NAB set no dollar floor; CommBank asks $100,000 and Westpac Group $120,000.
Can lawyers get LMI waived?
Yes, at five of the major lenders. LMI is the one-off insurance most lenders charge when you borrow more than 80% of a property's value; on a $1,000,000 home at 90% it's about $24,100 on one lender's rates. A professional waiver removes it, so a 10% deposit does the work of 20%.
All five tie the waiver to a current practising certificate from a Law Society, the Victorian Legal Services Board, the Legal Practice Board of WA, or a Bar Association. Westpac Group wants the certificate dated within the last 12 months, for the state where you practise.
Which legal roles qualify
Solicitors, barristers and in-house counsel with a certificate. At ANZ the certificate is the whole test: you don't need to work for a law firm, and your job title doesn't need to say lawyer. CommBank accepts title variations such as Associate or Legal Counsel.
Government lawyers and judges. ANZ accepts government legal roles without a certificate. NAB may, with documents showing you're practising. Westpac Group accepts Australian Government Solicitor lawyers who practise without one, and judges; CommBank accepts judges and magistrates whose role bars them from holding one.
Not lawyers for these purposes. Paralegals, law graduates not yet admitted, and anyone without a certificate or one of the exceptions above. The lenders' lists are closed.
Which lenders waive LMI for lawyers, and on what terms
From each lender's own policy, checked 1 October 2026.
| Lender | Highest loan without LMI | Minimum income | Main conditions |
|---|---|---|---|
| ANZ | 90% | None | Current practising certificate; principal and interest; home or investment |
| CommBank | 89.99% | $100,000 gross a year for each applicant, from the profession | Practising certificate; its professional package; principal and interest |
| Westpac Group (Westpac, St.George, Bank of Melbourne, BankSA) | 90% | $120,000 a year | Practising certificate dated within the last 12 months; principal and interest |
| NAB | 90% | No dollar figure; your main income must come from the profession | Practising certificate; home or investment |
| Bankwest | 89.99% on loans up to $2 million, 84.99% up to $3 million | None stated | Practising certificate; employees only (PAYG), not self-employed |
ING and AMP don't offer a professional LMI waiver, and Suncorp's waiver is for doctors only. Every lender also runs its normal credit assessment: the waiver removes LMI, not the test of whether you can repay.
Employed lawyers on a salary
The simplest case. With a certificate, payslips and a contract, every lender above is open to you, and the only question is whether your income clears the floor. Under $100,000, that leaves ANZ, NAB and Bankwest; at $100,000 CommBank opens; at $120,000 Westpac Group does too.
Partners, barristers and the self-employed
Partners. CommBank lists Partner as an eligible occupation. Westpac Group has a separate group for partners of qualifying law and accounting firms, to 90% on a property up to $5 million. Your income is read from distributions and the firm's returns, the way lenders read self-employed income.
Barristers. ANZ's test is the certificate, with no requirement to be employed, so a barrister at the bar qualifies there. CommBank accepts sole practitioners. Bankwest's waiver is for employees only, so it's closed to the bar. Westpac Group's policy says the applicant must be employed in the industry, so a self-employed barrister needs that confirmed with Westpac before relying on it.
Newly admitted lawyers
Admission matters only because it gets you the certificate. At ANZ, conditions on your certificate, such as practising under supervision, are acceptable, so a newly admitted lawyer can qualify from the start. The harder test early on is usually the income floor: CommBank's $100,000 and Westpac Group's $120,000 sit above many junior salaries, which points to ANZ and NAB.
The income floor, lender by lender
After the certificate, this decides it. ANZ sets no minimum. NAB sets no dollar figure but wants your main income to come from the profession. Bankwest states no floor. CommBank asks $100,000 gross a year for each applicant relying on the waiver, from the profession. Westpac Group asks $120,000 a year.
What the waiver is worth at your loan size
LMI on a 90% loan to buy a home to live in, on one lender's standard rates. With a waiver, you don't pay it.
| Purchase price | Loan at 90% | LMI without a waiver |
|---|---|---|
| $700,000 | $630,000 | about $16,900 |
| $1,000,000 | $900,000 | about $24,100 |
| $1,500,000 | $1,350,000 | about $39,800 |
LMI varies between lenders, so these are illustrations from one rate card, not a quote.
Using the lawyer waiver on an investment property
Most of these waivers cover investment loans too. ANZ goes to 90% on an investment, and allows interest-only to 90% there but only 80% on a home to live in. CommBank's 89.99% and NAB's 90% apply to a home or an investment alike, and Bankwest applies the same limits to both. Westpac Group's documents set one 90% limit without splitting the two.
If you came here looking for a lawyer for your settlement
Many people searching "lawyer home loan" want a solicitor or conveyancer to handle the legal side of buying: the contract, searches and settlement. That's a different job from the loan, and a different professional. Your lender doesn't choose them for you; you appoint your own, and it's worth doing before you sign, so they can review the contract. What they charge varies by firm and state, so ask for a quote up front.
What to do next
Check your certificate. Current, from the right body, and dated within 12 months if Westpac Group is on your list.
Check your income against each floor. Gross, from the profession, for each applicant relying on the waiver.
Have your proof ready. The certificate, plus payslips if you're employed, or two years of returns if you're a partner or at the bar.
Questions lawyers ask
Yes. ANZ, CommBank, Westpac Group, NAB and Bankwest waive lenders mortgage insurance for lawyers with a current practising certificate to about 90% of the property's value, each with its own conditions (Money Brain, lender policies checked 1 October 2026).
A lawyer buying with less than 20%?
Tell me your role, whether you're employed, a partner or at the bar, what you earn and the price you're looking at. I'll tell you which lenders would waive LMI for you, and whether the waiver is the best route.
You'll hear back within the hour in business hours, and by 9am the next business day after hours.
Sources
- 1
Lender policies on professional LMI waivers: ANZ, CommBank, Westpac Group (Westpac, St.George, Bank of Melbourne, BankSA), NAB, Bankwest, Suncorp, ING, AMP. Checked 1 October 2026.
- 2
Role, partner, barrister and investment conditions for lawyers, read from the same lenders' policies on 26 August 2026.
- 3
LMI premiums: one lender's published rate card, owner-occupier standard rates. Checked 1 October 2026.
Updated 2 October 2026