Westpac LMI Waivers – Save on Lenders Mortgage Insurance (LMI) for Home Loans
Westpac offers LMI waivers for eligible professionals, allowing them to secure home loans with up to 95% LVR while avoiding costly lenders mortgage insurance.
Eligible Industries and LVR Limits
| Industry | Maximum LVR | Examples of Eligible Professionals |
|---|---|---|
| Accounting | 90% | Accountants, Auditors |
| Entertainment | 90% | Actors, Musicians, Journalists, Radio Hosts, Models |
| Legal | 90% | Solicitors, Barristers, Judges, Magistrates, Partners |
| Medical | 90 - 95% | Doctors, Dentists, Optometrists, Physiotherapists, Chiropractors |
| Sports | 90% | Professional Athletes, Sports Players |
| Veterinary | 90% | Veterinarians, Specialists, Surgeons |
Accounting Professionals – Up to 90% LVR with No LMI
Accounting professionals, including accountants and auditors, qualify for Westpac's LMI waiver program.
- Borrow up to 90% LVR with no LMI
- Minimum income requirement: $120,000 per annum
- Must hold an accredited accounting certification
Entertainment Professionals – Up to 90% LVR with No LMI
Actors, musicians, journalists, and other professionals in the entertainment industry can qualify for a no LMI home loan with Westpac.
- Borrow up to 90% LVR with no LMI
- Minimum income requirement: $120,000 per annum
- Must have worked in the industry for at least two years
- Provide evidence of income, sponsorships, or endorsements
Legal Professionals – Up to 90% LVR with No LMI
Westpac offers mortgage loans with no LMI for eligible legal professionals, including solicitors, barristers, magistrates, and judges.
- Borrow up to 90% LVR with no LMI
- Minimum income requirement: $120,000 per annum
- Must be registered with the appropriate legal accreditation body
Medical Professionals – Up to 95% LVR with No LMI
Westpac provides no LMI home loan options for a range of medical professionals, split into two categories:
Doctors, Dentists, General Practitioners, and Specialists
- Borrow up to 95% LVR with no LMI
- Maximum loan amount of $5 million
- No minimum income requirement
- Must be employed in Australia and registered with AHPRA
Other Medical Professionals
- Borrow up to 90% LVR with no LMI
- Minimum income requirement of $90,000 per annum
- Eligible professions include physiotherapists, podiatrists, pharmacists, psychologists, and more
Professional Athletes – Up to 90% LVR with No LMI
Westpac offers LMI waivers for professional athletes and sports players who meet specific eligibility criteria.
- Borrow up to 90% LVR with no LMI
- Minimum income requirement: $120,000 per annum
- Must have played or competed professionally for at least two years
- Provide proof of income, sponsorships, and endorsements
Veterinary Professionals – Up to 90% LVR with No LMI
Veterinarians and veterinary specialists can take advantage of Westpac’s no LMI home loan options.
- Borrow up to 90% LVR with no LMI
- Minimum income requirement: $90,000 per annum
- Must be registered with the relevant veterinary board
Disclaimer: The opinions expressed in this article are strictly for general informational and entertainment purposes only and should not be taken as financial advice or recommendations. While every effort is made to ensure the listed offers are accurate, we make no guarantee regarding their accuracy, completeness, or availability.