As a lawyer, you qualify for home loan benefits most borrowers cannot access: waived Lenders Mortgage Insurance (LMI) at up to 90% LVR, discounted interest rates through professional banking divisions, higher loan limits up to $7.5 million for partners at top-tier firms, and no minimum income requirement at select lenders. On a single purchase, this can save you $15,000 to $45,000+.
We specialise in home loans for lawyers. We know which lenders have no income threshold and which require $100,000 to $120,000 minimum, which accept supervised practising certificates for junior lawyers, which allow interest-only repayments under the waiver, and which exclude barristers operating through a trust. We compare 35+ lenders so you get the best deal for your situation, not just whatever one bank offers.
First home buyers can combine the LMI waiver with the NSW stamp duty concession (nil on properties up to $800,000 and a concessional rate between $800,000 and $1,000,000) for $30,000+ in combined savings. If you already own property, we help you use equity to invest or refinance to a lower rate with waived LMI. Buying, investing, or refinancing, our service costs you $0. Use our repayment calculator or equity calculator to start planning your numbers.
Find out how much you save with a lawyer home loan
We verify your practising certificate eligibility, calculate your borrowing power across 35+ lenders, and show you exactly how much you save on LMI and interest. Buying, investing, or refinancing, $0 cost.
Get my free home loan assessmentLenders Mortgage Insurance is one of the biggest upfront costs when buying with less than 20% deposit. As a lawyer, it is waived entirely. Here is what a regular borrower would pay, and what you save:
| Property Value | LVR | Loan Amount | Estimated LMI (non-lawyer) | Lawyer Saves |
|---|---|---|---|---|
| $600,000 | 90% | $540,000 | ~$13,400 | ~$13,400 |
| $750,000 | 90% | $675,000 | ~$16,800 | ~$16,800 |
| $900,000 | 90% | $810,000 | ~$20,200 | ~$20,200 |
| $1,000,000 | 90% | $900,000 | ~$22,400 | ~$22,400 |
| $1,250,000 | 90% | $1,125,000 | ~$28,000 | ~$28,000 |
| $1,500,000 | 90% | $1,350,000 | ~$33,600 | ~$33,600 |
| $1,800,000 | 90% | $1,620,000 | ~$40,300 | ~$40,300 |
| $2,000,000 | 90% | $1,800,000 | ~$44,800 | ~$44,800 |
Estimates only. Actual LMI costs vary by lender, insurer, state, and borrower profile. Lawyers qualify for waived LMI at up to 90% LVR. Use our property deposit calculator for your exact numbers, or book a free consultation for your personalised LMI saving.
A home loan for legal professionals requires a broker who understands practising certificate verification, barrister income structures, and the wide variation in lender policies for lawyers:
Not all lenders offer lawyer home loans, and those that do have very different policies. Some have no minimum income threshold. Others require $100,000 or $120,000 gross annual income. Some waive LMI up to 90% LVR. Some accept supervised practising certificates for junior lawyers, others require full certification only. Maximum loan amounts range from $3 million to $5 million per security. Partners at top-tier firms can access limits up to $7.5 million at select lenders. Some exclude interest-only repayments entirely. You get every relevant lender compared against your certificate type, income, and financial situation so you get the best deal.
LMI is one of the biggest upfront costs when buying with less than 20% deposit. A regular borrower purchasing a $1,000,000 property at 90% LVR would pay approximately $22,400 in LMI. At $1,500,000, the cost rises to approximately $33,600. With a lawyer home loan, LMI is waived entirely at up to 90% LVR. The higher the LVR and property value, the more you save. If you previously paid LMI before knowing about lawyer home loans, you can refinance with waived LMI and never pay it again. Use our property deposit calculator for your exact numbers. Read our LMI guide for more detail.
Your income may be straightforward PAYG salary from a law firm, or it may involve barrister fees through a trust, partnership profit shares, equity draws, or a mix of PAYG and self-employed income. Some lenders accept self-employed barristers on a single year of tax returns. Others require two years. Some average barrister income conservatively over 24 months. Others use the most recent year if it is higher. The wrong lender means less borrowing power or a declined application. You get matched to the lender that assesses your legal income most favourably.
Many lenders offer rate discounts through professional banking divisions not accessible through branches or the bank's website. Your application goes directly to the professional division with practising certificate verification and documentation prepared to their requirements. Faster turnaround, better rates, fewer delays. We also compare cashback offers of $2,000 to $10,000 when switching lenders.
The lender pays the commission when your loan settles. You pay the same rate whether you go direct or through a broker. A mortgage broker is legally bound by the Best Interests Duty to recommend what is best for you, not the lender. Learn about our team.
Your income changes as you progress from graduate lawyer to senior associate to partner. As income grows and equity improves, better rates and higher loan limits become available. Partners at top-tier firms unlock an elevated lending tier with higher aggregate limits. You receive annual rate reviews and proactive contact when a better deal comes up. We also help you release equity to fund your next investment property as your portfolio grows.
You need a current practising certificate from the relevant state or territory Law Society, Bar Association, or Legal Practice Board. Judges and Australian Government Solicitors are exempt from the practising certificate requirement under the Judiciary Act 1903. The following legal roles are covered by at least one lender:
Eligibility varies by lender. Minor title variations are accepted as job titles do not always match the occupation. For example, an applicant with the title "Associate" or "Legal Counsel" is usually accepted. Government-employed lawyers who are not required to hold a practising certificate can still qualify at select lenders with adequate documentation. If your role is not listed, contact us and we will confirm your eligibility immediately.
Not all lenders accept every type of legal income. Approaching the wrong lender can mean a declined application or reduced borrowing power:
100% accepted by all lenders. Two recent payslips from your current employer are required. If you have recently changed firms, some lenders require you to have passed probation while others accept income from your first payslip. Employed solicitors at law firms, corporations, and government departments have the most straightforward assessment. Some lenders require a minimum income of $100,000 to $120,000 for the LMI waiver, while others have no income threshold at all.
Barristers typically operate as self-employed sole practitioners, often channelling income through a trust or personal services entity. Most lenders require two years of tax returns and financials. Some accept one year if you have been at the bar for at least one full financial year. Income can fluctuate depending on briefs, so some lenders average it conservatively over 24 months while others use the most recent year. Choosing the right lender can increase your borrowing power significantly. Our self-employed home loan guide covers the full range of verification options.
Law firm partners earn through profit distributions, equity draws, or a combination of a base salary plus profit share. Two years of tax returns and partnership financials are generally required. If your share of profits increased significantly in the most recent year, choosing a lender that uses the latest year rather than averaging two years can add $100,000+ to your borrowing power. Partners at named top-tier firms may access elevated lending limits of up to $7.5 million at select lenders.
State and federal government lawyers qualify for the same home loan benefits as privately employed lawyers. If you are a government lawyer who is not required to hold a practising certificate (for example, under the Judiciary Act 1903 for Australian Government Solicitors), some lenders accept alternative documentation proving you are currently practising in a legal role. Others require a practising certificate regardless. We identify which lenders accept your employment evidence.
In-house lawyers at corporations, banks, and consulting firms often earn a base salary plus annual bonus. Some lenders accept 100% of bonus income when documented over two consecutive years. Others average it or discount it. A current practising certificate is still required for the LMI waiver, even if your employer does not mandate one. If your bonus represents a large portion of your total compensation, choosing the right lender protects your borrowing power.
Some lawyers earn from multiple sources: a PAYG role at a firm plus consulting income, or a salaried position plus university teaching. Some lenders only assess the primary income stream and ignore secondary income. Others combine both but apply different rules to each. Some require that the primary source of income comes from the legal profession. You get matched with the lender that maximises borrowing power by accepting all your income streams together.
Our founder spent 8+ years inside one of Australia's major banks approving and declining loans. That experience means your application is built to get approved at the highest possible amount:
Most brokers submit and wait. Your application is checked against the lender's credit criteria before it goes in, so issues are resolved upfront. Complex income from partnership draws, barrister fees, and mixed revenue streams is presented in the format credit assessors expect, less back-and-forth, faster approval. Applications through a company or trust structure can take significantly longer at some lenders, so we plan accordingly.
Each lender calculates borrowing power differently. By testing your situation across every lender, we find the one that accepts 100% of your partnership profit share instead of averaging it conservatively, applies the smallest assessment rate buffer on your existing fixed rate loan, and counts rental income at 80% instead of 70%. The difference between lenders can mean $200,000 to $400,000 in borrowing power on the same income. We also check for debt-to-income (DTI) restrictions that may affect your maximum LVR under the LMI waiver.
Major banks have specialised professional lending teams with pricing, LVR limits, and income policies not available through branches. Your application goes directly to the professional division with practising certificate verification and documentation prepared to their requirements, faster turnaround, better rates, fewer delays.
Simple changes can dramatically increase how much you borrow. Credit cards reduce borrowing power by $30,000 to $50,000 per $10,000 limit, even if paid off monthly. HECS repayments, buy now pay later accounts, and school fees also count against you. These are identified during your initial assessment so you know what to fix before the application goes in. For many lawyers, cancelling unused credit cards alone adds $100,000+ to borrowing power.
Lawyers spend their days in court, client meetings, and document review, not chasing bank paperwork. Consultations are available Monday to Friday 9am to 9pm and weekends 9am to 6pm. All paperwork is handled, the lender chased, your solicitor coordinated with, the valuation arranged, and you kept updated through to settlement. After settlement, regular check-ins keep your rate competitive.
Ali Hasani spent 8+ years as a Senior Mobile Lending Specialist at one of Australia's big four banks, where professional lending policies for lawyers and other qualified professionals are developed and administered. He holds a Diploma of Finance and Mortgage Broking Management and a Post Graduate Certificate in Accounting. MFAA accredited with a perfect settlement record. Learn more about our team.
Use our lawyer home loan calculator tools to estimate your borrowing capacity, maximum purchase price, and repayments. Your results will differ from standard calculators because lawyer loans allow up to 90% LVR without LMI:
Enter your savings. See your maximum purchase price.
Our property deposit calculator shows your maximum purchase price at 80%, 90%, and 95% LVR with stamp duty included. As a lawyer with waived LMI, your 90% result is achievable without the LMI cost other borrowers pay on top.
LMI waiver eligibility, maximum LVR, and lender policies differ by legal role and practising certificate type:
Solicitors with a current practising certificate issued by the relevant state Law Society qualify at up to 90% LVR with no LMI at most lenders. Income requirements vary: some lenders have no minimum income threshold, while others require $100,000 to $120,000 gross annual income. Maximum per-security loan amounts range from $3 million to $5 million. Aggregate exposure limits range from $4 million to $7.5 million depending on the lender and whether you are a partner at a named firm. This covers solicitors in private practice, corporate law, government, and community legal centres.
Read about LVR and how it affects your rateBarristers with a current practising certificate from the relevant state Bar Association qualify for waived LMI. Because most barristers are self-employed, income assessment is the key variable. Most lenders require two years of tax returns and financials. Select lenders accept a single year if you have been at the bar for at least one full financial year. Barristers operating through a trust can borrow under the trust at some lenders, while others require individual borrowers only. If you are a junior barrister in your first years at the bar, lender selection is critical to ensure adequate income history is accepted.
Read our full No LMI home loan guideSome lenders accept supervised practising certificates, meaning lawyers completing their supervised practice period can access waived LMI. Others require a full unrestricted certificate. Certificates with conditions or limitations are accepted at some lenders but not all. If you are a graduate lawyer still under supervision, lender selection matters. Income thresholds also affect junior lawyers: at lenders requiring $120,000 minimum, a junior solicitor on $75,000 would not qualify, but at a lender with no income threshold, the same lawyer qualifies based on the certificate alone.
Read our first home buyer guideJudges and magistrates are eligible for the lawyer LMI waiver. Under the Judiciary Act 1903, they are not required to hold a practising certificate and are exempt from this requirement at most lenders. Verification is through a copy of the current commission, letter of appointment, or evidence that employment conditions prohibit holding a practising certificate. Some lenders also require a payslip or tax return as income evidence.
Read our pre-approval guidePartners at named top-tier law firms can access an elevated lending tier at select lenders with aggregate exposure limits of up to $7.5 million and per-property limits of up to $5 million at 90% LVR. This tier is not available through retail branches. If you are a partner at a major firm, we ensure your application is routed to the lender offering the highest limits and best rates for your profile.
Read our investment property guideLaw students (not yet admitted), paralegals, legal secretaries, and those with non-practising certificates do not qualify for the lawyer LMI waiver. Lawyers on temporary leave (such as parental leave) who intend to return to practice may be accepted at some lenders if their absence is temporary. If you do not qualify, we can still help you find the best standard home loan through our panel of 35+ lenders.
Read about deposit optionsYour strategy should match your career stage, income, and goals:
A lawyer home loan lets you purchase with 10% deposit and no LMI. If your property is under $800,000, you also pay zero stamp duty as a first home buyer in NSW. Between $800,000 and $1,000,000, a concessional rate applies. Lender selection matters for junior lawyers: at lenders requiring $120,000 minimum income, you would not qualify on a graduate salary. At a lender with no income threshold, you qualify based on the practising certificate alone.
Example scenario
Emma, junior solicitor at a mid-tier firm, earning $85,000. She has $80,000 in savings and wants to buy a $750,000 apartment in Sydney. At 90% LVR, her loan is $675,000. She needs $75,000 deposit plus approximately $2,500 in legal costs. As a first home buyer under $800,000 in NSW, she pays zero stamp duty. As a lawyer at a lender with no income threshold, she pays zero LMI. A regular borrower at the same LVR would pay approximately $16,800 in LMI. Emma's total upfront cost: approximately $77,500. A non-lawyer's total upfront cost at the same LVR: approximately $94,300. Emma saves ~$16,800.
Your built-up equity can fund the deposit on your next home. You can keep your first property as an investment. Your lawyer LMI waiver applies to the new purchase as well. The key is choosing the right lender: one that accepts your bonus income at full value and treats your total compensation package favourably.
Example scenario
Michael, senior associate earning $210,000 plus $30,000 bonus. He owns a $800,000 apartment with $320,000 equity and wants to buy a $1,300,000 family home. He keeps the apartment as an investment. At 90% LVR on the new home, his loan is $1,170,000. He pays zero LMI, saving approximately $29,100. The right lender treats his bonus at 100%, maximising his borrowing power by $80,000+ compared to a lender that discounts it.
Partners at top-tier firms can access aggregate lending limits of up to $7.5 million with waived LMI on each property. Each investment loan is structured separately to maximise negative gearing deductions, avoid cross-collateralisation, and diversify across lenders. Interest-only is available at some lenders but not all under the waiver. To grow a portfolio, loans are spread across multiple lenders to avoid concentration limits.
Example scenario
Catherine, equity partner earning $450,000. She owns a $2M home and two investment properties. By refinancing all three loans with waived LMI to a lower rate with cashback ($4,000 per property), she saves $20,000+ per year in interest and receives $12,000 in cashback across the three loans. Her partner-tier limits allow aggregate lending of $7.5 million, giving her room to acquire a fourth property.
Barrister fees, trust distributions, and sole practitioner income create complexity standard lenders struggle with. Some accept one year of financials. Select lenders assess barristers on a single year of tax returns if you have been self-employed for at least one full financial year. If your practice is held in a trust, that structure needs clear documentation. Your income is presented so each stream reads as one coherent story, maximising borrowing power.
Read our self-employed home loan guideIf you originally paid LMI, refinancing as a lawyer lets you switch without paying LMI again, even if your LVR is above 80%. Combined with a lower rate and potential cashback ($2,000 to $10,000), refinancing can save thousands per year. For partners with a portfolio, refinancing all loans can save $20,000+ per year in interest while accessing cashback on each property.
Read our refinance guideMany lawyers want to live near their chambers or firm in the CBD but cannot afford to buy there. Rentvesting lets you rent close to the office while buying an investment property in a growth area. With select lenders, your LMI waiver applies to the investment property at up to 90% LVR. You claim tax deductions on the investment loan interest and build wealth through capital growth and rental income.
Explore pathways to ownership"Cannot recommend Ali highly enough. He made a complicated and daunting process incredibly easy, and continually went above and beyond. Would absolutely recommend him to everyone."
"Ali has a wealth of knowledge and experience. Was kind and patient with all of my questions and helped me refinance my home loan and investment loans. Highly recommend!"
"Ali is our trusted advisor for a long time. He has given us excellent service on loans and structured our loans in the right way. He is always available and quick to respond. Highly recommend his services!"
Your practising certificate is verified, your income structure assessed, borrowing power calculated across 35+ lenders, and the lender with the highest LVR and waived LMI for your legal role identified. Stamp duty concessions and other benefits are checked.
Your best options are presented with clear comparisons of LMI waiver LVR limits, interest rates, comparison rates, fees, offset features, and maximum loan amounts. You see which lender assesses your legal income most favourably. Read our choosing the right finance guide.
The application is handled, practising certificate submitted, valuation arranged, and settlement coordinated. Your lawyer home loan settles with no LMI. Ongoing support and annual rate reviews follow.
Educate yourself on LMI, government schemes, loan structures, and property strategies:
Real answers to the questions legal professionals ask us every day:
A home loan with special benefits for legal professionals holding a current practising certificate. The main benefit is waived LMI when borrowing above 80% of the property value, typically up to 90% LVR. You may also receive discounted interest rates, higher maximum loan amounts, and more favourable income assessment. These benefits exist because lenders consider lawyers low-risk borrowers with high income stability and very low default rates.
Lawyers have very low default rates, strong income potential, and high job security. Income grows significantly as you progress from graduate to senior associate to partner. Lenders also value the long-term banking relationship because lawyers often hold savings, credit cards, trust accounts, and business banking with the same institution.
With a lawyer home loan, you can purchase with 10% deposit and no LMI. On a $1,000,000 property, that means $100,000 instead of $200,000. Use our property deposit calculator to see your maximum purchase price based on your savings.
Yes, in most cases. All lenders require a current practising certificate issued by the relevant state Law Society, Bar Association, or Legal Practice Board. Some lenders require the certificate to be issued within the last 12 months. Judges and Australian Government Solicitors are exempt under the Judiciary Act 1903. Government-employed lawyers who are not required to hold a certificate can qualify at select lenders with adequate documentation.
It depends on the lender. Some have no minimum income threshold, qualifying you based on the practising certificate alone. Others require $100,000 gross annual income. The most restrictive require $120,000 gross taxable income (excluding rental income). If two qualifying professionals apply jointly, their incomes can be combined to meet the threshold at some lenders. This variation is why lender selection matters, especially for junior lawyers earning below $100,000.
Varies by lender and career level. Per-security limits range from $3 million to $5 million. Aggregate exposure limits range from $4 million to $7 million. Partners at named top-tier firms can access up to $7.5 million aggregate with per-property limits of up to $5 million. Some lenders have tiered limits based on LVR. Your actual borrowing capacity depends on income, debts, and serviceability.
Yes. Some lenders extend the LMI waiver to investment property purchases at up to 90% LVR. Interest-only repayments are available on investment properties at some lenders but not all. Not all lenders offer the waiver for investment. Lender selection determines whether your investment property benefits from waived LMI.
Yes. Barristers with a current practising certificate from the relevant state Bar Association qualify for waived LMI. Because most barristers are self-employed, income verification is the key variable. Most lenders require two years of tax returns. Some accept one year. If you operate through a trust, some lenders allow the trust as borrower while others require individual borrowers only.
At some lenders, yes. Supervised practising certificates and certificates with conditions or limitations are accepted at select lenders. Others require a full unrestricted certificate. If you are a graduate or recently admitted lawyer still completing supervised practice, lender selection is critical.
Yes. Judges and magistrates are eligible for the lawyer LMI waiver. Under the Judiciary Act 1903, they are exempt from the practising certificate requirement. Verification is through a copy of the current commission, letter of appointment, or payslip confirming the judicial role.
Yes. State and federal government lawyers qualify for the same benefits as privately employed lawyers. Government lawyers who are not required to hold a practising certificate (such as Australian Government Solicitor employees) can still qualify at select lenders with adequate documentation proving they are currently practising in a legal role.
Yes. Some lenders impose a debt-to-income (DTI) cap on the LMI waiver. If your total debts relative to your gross income exceed the threshold, typically a DTI of 6, your maximum LVR may drop. Cancelling unused credit cards and paying down existing debts can improve your DTI and unlock higher LVR limits.
It depends on the lender. Some require principal and interest (P&I) repayments only under the LMI waiver. Others allow interest-only on investment loans (converting to P&I after a fixed period) but require P&I for owner-occupied. One lender caps interest-only at 80% LVR for owner-occupied but allows 90% for investment with P&I or IO. If interest-only is important to your strategy, this is a key factor in lender selection.
Some lenders explicitly exclude land-only purchases and construction loans from the lawyer LMI waiver. Others may consider construction on a case-by-case basis. If building is part of your plan, we identify which lenders may cover construction under the waiver and which require standard LMI.
No. Lawyer home loans typically offer the same or better rates. Many lenders offer rate discounts specifically for legal professionals through their professional banking divisions. Some offer lawyers the same rate at 90% LVR that non-professionals only get at 80% LVR.
Yes. You can refinance to a new lender with waived LMI, even if your current LVR is above 80%. This is valuable if you originally paid LMI before knowing about lawyer home loans.
Personal ID (passport or licence plus citizenship or residency proof), current practising certificate from the relevant state Law Society or Bar Association (issued within the last 12 months at some lenders), proof of income (2 recent payslips for PAYG, or 2 years of tax returns for self-employed barristers), bank statements showing savings, and details of existing loans. Partners may need partnership financials. A complete checklist is provided specific to your situation.
Yes. Joint applications with an eligible lawyer can access the LMI waiver. Most lenders require the lawyer to hold at least equal ownership share on title and be a borrower on the loan. The non-legal spouse's income also counts toward borrowing power. If both applicants are qualifying legal professionals, their incomes can be combined to meet any minimum income threshold.
Yes. The lawyer LMI waiver is from the lender; stamp duty concessions are from the NSW government. They are completely separate. On a $750,000 first home purchase, you pay zero stamp duty and zero LMI, saving potentially $16,800+ in combined upfront costs.
Lawyers with straightforward PAYG income and a current practising certificate can be pre-approved within hours to a few days. Complex applications (self-employed barristers, partnership income, trust structures) may take longer. Some lenders process standard PAYG applications in 1 to 2 business days. Company or trust applications can take up to 12 business days at some lenders. Pre-approval is valid for approximately 90 days.
A bank can only offer its own product. A broker compares 35+ lenders. Different lenders offer different income thresholds ($0 versus $100,000 versus $120,000), maximum loan amounts, interest-only availability, certificate requirements, and trust or company restrictions. If you go to a branch, they may not offer you the professional rate. The service costs $0.
$0. The lender pays the commission (typically 0.45% to 0.65% of the loan value) when your loan settles. You pay the same rate whether you go direct or through a broker. Meet our team.
Yes, at some lenders. Some allow borrowing under a trust provided the eligible lawyer is a director or trustee. Others allow the property to be held in a spouse's name provided the qualifying lawyer is a party to the loan or a guarantor. Some lenders exclude company and trust structures from the LMI waiver entirely. Applications through a company or trust can take significantly longer to process at some lenders. If you use a trust or company for asset protection, lender selection is critical.
Some lenders allow higher limits in select high-value postcodes, with per-security caps of up to $7.2 million in premium suburbs. Others restrict the waiver in postcodes classified as high risk. Most lenders apply the waiver without postcode restriction for standard metropolitan properties. The security must be standard residential property.
Yes. Lenders include school fees as a committed expense in their serviceability assessment. Private school fees of $20,000 to $40,000 per child per year can reduce borrowing power significantly. Some lenders treat school fees more conservatively than others. If you have children at private school, we identify lenders that minimise the impact on your borrowing capacity.
All standard features: fixed rate and variable rate options, 100% offset accounts, redraw facilities, split loans, interest only repayments (where available under the waiver), and line of credit. The loan must typically be a packaged home loan product. Some lenders waive annual package fees for legal professionals. The LMI waiver does not limit your feature access.
Depends on income, debts, expenses, and lender. Lawyers may borrow more than other borrowers at the same income due to career stability and higher lending limits. Each lender calculates differently, so using a broker across 35+ lenders maximises borrowing power. Use our mortgage repayment calculator to estimate repayments.
Significantly. Lenders assess card limits as fully drawn. A $10,000 limit reduces borrowing by approximately $30,000 to $50,000. Multiple cards can reduce capacity by $100,000+. Cancelling unused cards before applying is one of the simplest ways to boost your borrowing power.
Yes. HECS does not prevent approval but reduces borrowing power. Lenders count the compulsory repayment (1% to 10% of income) as a committed expense. Law degrees often carry higher HECS debt. Some lenders treat HECS more favourably than others.
Yes. Lenders check for active BNPL accounts (Afterpay, Zip, Humm). These count as liabilities and reduce borrowing power. Some lenders view BNPL negatively. Close any BNPL accounts before applying.
The LMI waiver is assessed at application time. Once your loan settles with waived LMI, you do not need to remain in law. If you refinance later and your practising certificate has lapsed, you would not qualify for a new LMI waiver. Your existing loan is unaffected.
Yes. There is no limit on properties, provided each falls within the lender's maximum loan amount and LVR limits and you have sufficient borrowing capacity. Aggregate caps range from $4 million to $7.5 million. To grow a portfolio, loans are spread across multiple lenders to avoid concentration limits. Each loan is structured separately for tax efficiency.
Generally the same as or better than standard rates. Many lenders offer professional-only rate discounts through their professional banking divisions. Some offer lawyers the same rate at 90% LVR that other borrowers only get at 80% LVR. Rates change frequently, so we compare the latest offers across 35+ lenders. Contact us for today's best lawyer home loan rates.
Debt recycling converts non-deductible home loan debt into tax-deductible investment debt. You draw equity from your home to invest in an income-producing asset, then use the returns to pay down your non-deductible home loan faster. For high-income lawyers, debt recycling can save significant tax while building wealth. It requires careful loan structuring with separate splits for deductible and non-deductible debt. Speak to your accountant and contact us to structure the loans correctly.
The LMI waiver applies to standard residential property: houses, townhouses, and apartments. Some lenders restrict small apartments (under 50sqm), high-density buildings, or rural properties. The security must be standard residential. Land-only purchases and construction loans are excluded at some lenders. Select lenders allow higher per-security limits in premium postcodes.
Some lenders accept temporary visa holders, though terms may differ: lower LVR, higher deposit, or property restrictions. You must be living and working in Australia. Permanent residents and citizens have the widest lender choice. Contact us to check eligibility for your visa type.
Use our mortgage broker status and get cheaper interest rates across all professions:
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