- A range of professionals including nurses, lawyers and accountants are eligible for St. George LMI waiver (see full list here).
- You can borrow up to 95% LVR as a doctor or dentist, or 90% LVR for other eligible professionals.
- To estimate your borrowing capacity, take a look at our useful calculator.
St. George offers eligible professionals an LMI Waiver, allowing them to secure a home loan with a smaller deposit while avoiding the high cost of LMI. This waiver is available to certain medical, legal, and accounting professionals, making it easier to enter the property market without the need to save a full 20% deposit—potentially saving tens of thousands of dollars.
While you can apply for St. George LMI Waiver directly, working with a mortgage broker can simplify the process and improve your chances of approval. The experts at Eden Emerald Mortgages provide tailored advice, ensure your application is submitted correctly, and compare multiple lenders to find the best deal—especially if you don’t qualify with St. George. Best of all, their services come at no cost to you, as they are paid by the lender, not the borrower.
Speak to Me and
Get Your LMI Waived
To receive free guidance throughout your home loan process, including expert advice and recommendations on LMI Waivers, fill out the form below to speak to me.
I'm Shaun, an experienced mortgage broker from EE Mortgages who will call you to discuss your situation free of charge. You can also call me on (02) 9188 9398.
St. George LMI Waiver: Which Professions are Eligible?
Maximum LVR
90%
Eligible Professions
Audiologists, Chiropractors, Midwives, Occupational Therapists, Osteopaths, Physiotherapists, Podiatrists, Psychologists, Radiographers, Registered Nurses, Sonographers, Speech Pathologists, Optometrists, Pharmacists
Important Information
- Borrow up to $5 million
- Minimum $90,000 annual income required
- Must be registered with AHPRA and currently employed in Australia
- Documents required to prove your registration and profession
Maximum LVR
90%
Eligible Professions
Solicitors, Barristers, Judges, Partners, Magistrates
Important Information
- Minimum $120,000 annual income required
- Must be currently employed in Australia and hold relevant industry accreditation
- Documents required to prove your registration and profession
Maximum LVR
90%
Eligible Professions
Chartered Accountants, Certified Practicing Accountants, Auditors
Important Information
- Minimum $120,000 annual income required
- Must be currently employed in Australia and hold relevant industry accreditation
- Documents required to prove your registration and profession
Maximum LVR
90%
Eligible Professions
Veterinarians, General Practitioners, Specialists, Surgeons, Locums, Interns, Residents
Important Information
- Borrow up to $5 million
- Minimum $90,000 annual income required
- Must be currently employed in Australia and be registered with relevant veterinary board
- Documents required to prove your registration and profession
How to Apply for LMI Waiver at St. George
To apply for a St. George LMI waiver, simply follow these steps:
- Check Eligibility: Find out if you are eligible, based on your profession, deposit amount, and desired loan amount. It is a good idea to speak to a mortgage broker who can help you determine eligibility, as well as guide you through the entire process.
- Speak to St. George: If you use a mortgage broker, they will speak to St. George on your behalf, so you can skip this step. If you decide to apply for a LMI waiver by yourself, then visit St. George and tell them you want to apply for a No LMI home loan.
- Submit Documents: Provide any documents that are requested, such as proof or employment, relevant certification or registration for your profession, pay slips, bank statements and tax returns.
- Receive Confirmation: If you are approved, St. George will waive your LMI, and you can borrow more than 80% LVR without having to pay any LMI costs.
Frequently Asked Questions
Yes, St. George waives LMI for a range of professionals including accountants, lawyers, nurses, doctors, and veterinarians. Check the list above to see if you qualify.
There are several banks and lenders that waive LMI, including ANZ, BOQ, CBA, Granite Home Loans, Macquarie Bank, NAB, St. George and Westpac. To see the full list, read this article.
Yes, accountants can avoid LMI when borrowing up to 90% LVR at St. George.
If you are doctor or dentist, you will be able to waive LMI at St. George with only 5% deposit. Alternatively, if you are a first-home buyer you can avoid LMI with 5% deposit.
Use a Mortgage Broker to Waive LMI
The simplest way to secure a home loan with an LMI waiver is by working with a mortgage broker. Their services come at no cost to you (as they are compensated by the lender), and they’ll assist you through the entire home loan and LMI waiver process. A broker can help you find the lowest possible interest rates while maximising your borrowing power.
We highly recommend EE Mortgages, a specialist mortgage broker in LMI waivers. To get started or even just to answer some questions, fill out the form below or call them on (02) 9188 9398.
Speak to Me and
Get Your LMI Waived
To receive free guidance throughout your home loan process, including expert advice and recommendations on LMI Waivers, fill out the form below to speak to me.
I'm Shaun, an experienced mortgage broker from EE Mortgages who will call you to discuss your situation free of charge. You can also call me on (02) 9188 9398.