I'm Jason Birks, a Brisbane mortgage broker. I spent over ten years lending at Westpac and NAB before starting Birks Financial Group, and I compare more than 60 lenders. This page is based on the lender policies I work with, as at October 2026. For other professions, see home loans for professionals.
What an LMI waiver is
Lenders normally charge lenders mortgage insurance (LMI) when you borrow more than 80% of a property's value. It protects the lender, not you, and it can cost thousands to tens of thousands of dollars. With a waiver, the lender doesn't charge it because of your occupation. My LMI guide covers how it's priced.
Who qualifies, and how far you can go
- Solicitors and barristers. Up to 90% without LMI at most major lenders, usually with a practising certificate dated within the last 12 months.
- Judges and magistrates. Eligible at several lenders, verified with a commission, letter of appointment, payslips or tax return.
- Government and in-house lawyers. Some lenders accept lawyers who work for a government department without needing a practising certificate. Job titles like associate or legal counsel are accepted by some.
- Degree-qualified professionals. One lender offers up to 95% for university-qualified professionals, including lawyers, through a lender-paid LMI product with loan caps.
The conditions to know about
- Income minimums. From none at some lenders to $100,000 or $120,000 at others.
- Ownership. Some lenders want the lawyer to own at least an equal share of the property. One allows asset protection structures where a lawyer spouse is a guarantor or co-borrower instead.
- Employment type. Some lenders only accept PAYG employees, not self-employed partners or barristers.
- Loan size and type. Caps range up to about $4.5 million to $5 million, and some lenders allow investment and interest only at 90%.
Policies change during the year. Use this as a guide to whether it's worth asking, then let me check the current rules for your situation.
Questions people ask
Can lawyers get a home loan without LMI?
Yes. Most major lenders waive LMI for solicitors and barristers up to 90% of the property's value.
Do I need a practising certificate?
Usually, yes. Some lenders accept government lawyers and judges without one.
Is there a minimum income for a lawyer LMI waiver?
It depends on the lender, from none up to $120,000 a year.
Can I use the waiver for an investment property?
Some lenders allow investment loans, including interest only, up to 90%.
