90% LVR home loans for eligible lawyers: what to check
A professional LMI waiver can help a qualifying borrower buy with a smaller deposit or refinance with less than 20% equity. It removes an insurance premium under the relevant policy; you remain responsible for repaying the loan and it does not insure you against missed repayments. LMI protects the lender.
A published lender example
ANZ’s legal-professional guide (April 2024) describes lending up to 90% LVR without LMI for eligible applicants, with no minimum income for the waiver. You still need sufficient verified income to service the loan. Lawyers, solicitors and barristers need current accepted practising evidence; judges and magistrates have separate judicial-appointment evidence requirements.
The guide’s 90% example covers owner-occupier and investor loans with principal-and-interest repayments. Ownership share, loan size, property value and total ANZ lending limits apply, and ANZ Plus is excluded. Interest-only and other structures need a separate check. This older published guide is a policy example, so we confirm the current rules before you rely on it.
Westpac’s consumer deposit guide also outlines profession-based waivers and legal-practising evidence. Its income and eligibility conditions differ. One lender’s rules should not be assumed to apply to another.
What does a 10% contribution look like?
If both the purchase price and lender-assessed value are $1,000,000, a $900,000 loan is 90% LVR. Your contribution towards the price is $100,000, plus any stamp duty, conveyancing, registration, inspections and loan costs. If the valuation is lower, you may need more cash. This is an illustration, not an approval or a quote for LMI savings.
Documents to prepare
- Current practising certificate or accepted judicial evidence, plus identification.
- Payslips and employment details, or partnership and self-employed financial records where relevant.
- Evidence of savings or equity, existing debts, living expenses and proposed ownership shares.
- Property details and the intended purpose and repayment structure of the loan.
Compare the waiver with a larger deposit or lower-LVR loan, including rates, fees, features, repayments and the cash buffer left after settlement. Estimate repayments or ask Chris to check your eligibility.
Sources checked 3 November 2026. Published lender information can change; eligibility and any waiver require lender confirmation.