How lenders assess the application
I check the current profession rules and the full credit position together.
What I check
- Exact occupation: lawyer, barrister, accountant, auditor, actuary or another role named in the lender's policy.
- Professional standing: current practising certificate, registration or membership the policy requires.
- Career position: employee, junior professional, partner, contractor or practice owner.
- Income: amount, history and the lender's treatment of salary, bonus, partnership or business income.
- Loan and property: deposit, requested LVR, total lending, loan purpose, property type and valuation.
What a current check can show
A current profession policy fits
The occupation, membership and application may sit within a lender's waiver criteria, subject to full assessment.
The policy fits with conditions
Experience, income, LVR, maximum lending or property rules may limit how the waiver can be used.
The standard path is stronger
A non-waiver loan may be more realistic or suitable once pricing, features and the full assessment are considered.
Why I do not publish a lender comparison table: named occupation lists, income floors, experience rules, maximum LVRs and loan caps can move independently.
A table can look definitive while missing a rule that changes the result. I check the live policy and compare the whole loan instead.
Documents worth having ready
The exact list depends on your role and income structure.
Professional evidence
Your current practising certificate, registration or relevant professional membership.
Income evidence
Recent payslips and contract, or partnership and business financial information where relevant.
Deposit evidence
Savings, equity, gift or other acceptable funds, plus an allowance for purchase costs.
The whole position
Existing debts, limits, expenses, identification and details of the property or price range.
Common questions
Can a junior lawyer or accountant be considered?
Potentially. Some policies set income, experience, probation or membership requirements. I check those details instead of treating the job title as enough.
What if I am a partner or practice owner?
Partnership or practice income may be considered, but the lender can require additional financial evidence and trading history. The waiver check does not replace that income assessment.
Does working in-house change the answer?
It can. The lender may look at your exact role, practising status, professional membership and income. Current policy needs to be checked for the individual application.
Is 95% LVR always available?
No. Maximum LVRs vary by profession, lender, loan size, property and policy at the time. A lower LVR or no waiver may be the actual result after assessment.
Does an LMI waiver guarantee the cheapest loan?
No. The LMI outcome is only one part of the comparison. Rate, fees, features, flexibility and suitability all matter.
General information only. Lender policies and lending criteria change. Any waiver, LVR, loan amount, pricing and approval outcome depends on the lender's current policy and your complete application.
Still working it out? See how the process works, step by step, or browse the common questions.