Home Loans for Accountants and Actuaries: LMI Waivers by Lender

Which lenders waive LMI?

Lenders' own published policies, checked 29 September 2026. A policy is not an approval: each lender assesses your application and can change or withdraw an offer.

How much LMI does a waiver save?

A waiver removes the whole premium. At 90% LVR, published lender figures put the LMI you would otherwise pay at about:

NSW, where there is no duty on LMI. Other states add 9% to 11% to the premium. Built from LMI figures Australian lenders publish.

Which accounting bodies do lenders accept?

Your membership is what makes you eligible, so check that your body is on the lender's list before you apply. Where a lender publishes its list, this is what it names:

CommBank, BOQ Specialist and Auswide Bank do not publish which bodies they accept.

Actuaries and CFA charterholders

Three lender groups extend the accountant waiver to actuaries and financial analysts:

• ANZ names CFA Institute members and Fellows of the Institute of Actuaries of Australia on its accountant sheet: up to 90%, no minimum income, loans of $4.5 million or less.
• NAB names Fellows of the Institute of Actuaries of Australia and CFA Institute members, without publishing an LVR.
• The Westpac group lists CFA Institute Australia membership and the actuaries' fellowship inside its accountant footnote, with the same $120,000 income rule. The wording ties them to being a qualified accountant, so confirm with the lender before you count on it.

Do accountants need a minimum income?

Only at the Westpac group, which asks for at least $120,000 gross taxable income a year. ANZ says no minimum income is required. CommBank, NAB, BOQ Specialist and Auswide Bank do not publish an income rule. A graduate accountant earning less than $120,000 has more options at ANZ than at Westpac, as long as their membership is current.

How lenders assess an accountant's income

Salaried accountants prove income with payslips. Bonuses count as non-base income at Westpac, which asks for a year-to-date payslip covering at least 3 months, or a payslip plus a year-to-date income statement. Partners, principals and anyone paid through their own company or trust are self-employed, and lenders ask for more (lender pages read 29 September 2026):

• A regular wage from your own company: ANZ has a streamlined check for directors and shareholders who have paid themselves a regular wage for at least 6 months: one payslip dated within 60 days, your latest ATO income statement and an ABN or ACN registered for 18 months. CommBank's simpler check asks for six months of salary credits and two years of profit and loss records showing a profit each year.
• Partnership, trust or company profits: ANZ asks for your individual tax return and notice of assessment, plus the company or partnership return if you own 25% or more. Director's fees or dividends need an ABN or ACN that has been valid for two years. If you do not fit its simpler check, CommBank asks for two years of personal tax returns, the latest business return and two years of profit and loss.
• How recent the returns must be: ANZ accepts tax statements up to 22.5 months old, with a 15 May cut-off each year. NAB accepts a single year's financials only at 80% LVR or less.

Westpac says your business should have traded for at least 2 full financial years under all its self-employed methods, though it may still help if it has not. Its two-year Fast Track, which needs only your notices of assessment, asks for a 20% deposit.

What if you are not eligible?

Bookkeepers and tax staff without CA ANZ, CPA Australia or IPA membership fall outside these lists. First home buyers can still use the 5% Deposit Scheme to buy with 5% and no LMI, below the price cap for the area.

ubank charges no LMI up to 90% for anyone buying with principal and interest repayments, to live in or to invest. If family can help, BOQ takes 15% off the LMI when a family member pays it at settlement.

Compare every route in how to avoid LMI, or see all professions in LMI waiver rules.

Frequently asked questions

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