Home Loans for Allied Health Professionals: LMI Waivers by Lender

Eleven allied health professions, from physiotherapy to psychology, can get LMI waived on a home loan at one or more lenders, up to 90% of the property value. The Westpac group covers all eleven with a $90,000 minimum income, and physiotherapists, chiropractors and optometrists have the most choice.

In short

The Westpac group (Westpac, St.George, Bank of Melbourne, BankSA) names all eleven professions: up to 90%, with at least $90,000 income a year.
Physiotherapists, chiropractors and optometrists can also go to ANZ, with no minimum income, and NAB.
Psychologists have two options: the Westpac group and Auswide Bank.
Occupational therapists, podiatrists, osteopaths, radiographers, sonographers, audiologists and speech pathologists are named only by the Westpac group.

Which lenders waive LMI?

One row per lender group. The table further down shows which of the eleven professions each lender names. All figures are the lenders' own published policies, as at 29 September 2026.

Published LMI waiver policies, checked 29 September 2026
Lender	Status	Max LVR	Conditions	Investment loans
Westpac group	Waiver	90%	All eleven professions; at least $90,000 a year, with casual income counted over 52 weeks and self-employed included	Yes
ANZ	Waiver	90%	Physiotherapists, chiropractors and optometrists; no minimum income; AHPRA general registration; borrow up to $4.5 million	Yes, principal and interest
NAB	Waiver	Not published	Physiotherapists, chiropractors and optometrists with current AHPRA registration, practising in an accepted field	Depends on loan type
Auswide Bank	Waiver	90%	Chiropractors, optometrists and psychologists; other health professionals case by case	Yes
ANZ	Excluded	Not applicable	Psychologists, occupational therapists, podiatrists, osteopaths and radiographers are on its ineligible list	Not applicable
CommBank	Excluded	Not applicable	Its health package excludes physiotherapists and psychologists	Not applicable

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:

Home price	Loan at 90%	Typical LMI	Published range
$600,000	$540,000	$10,800	$8,100 to $14,200
$800,000	$720,000	$14,400	$10,700 to $19,000
$1,000,000	$900,000	$18,000	$13,400 to $23,700

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

Estimate the LMI for your own loan

Which lenders cover your profession?

Allied health profession by lender
Profession	Westpac group	NAB	ANZ	Auswide Bank	CommBank
Physiotherapists	90%, $90,000 income	Named	90%, no minimum income	Not named	Excluded
Chiropractors	90%, $90,000 income	Named	90%, no minimum income	90%	Not named
Optometrists	90%, $90,000 income	Named	90%, no minimum income	90%	Not named
Psychologists	90%, $90,000 income	Not named	Not eligible	90%	Excluded
Occupational therapists	90%, $90,000 income	Not named	Not eligible	Not named	Not named
Podiatrists	90%, $90,000 income	Not named	Not eligible	Not named	Not named
Osteopaths	90%, $90,000 income	Not named	Not eligible	Not named	Not named
Radiographers	90%, $90,000 income	Not named	Not eligible	Not named	Not named
Sonographers	90%, $90,000 income	Not named	On neither list	Not named	Not named
Audiologists	90%, $90,000 income	Not named	On neither list	Not named	Not named
Speech pathologists	90%, $90,000 income	Not named	On neither list	Not named	Not named

“Named” means the lender lists the profession but does not publish the LVR. “On neither list” means ANZ names it as neither eligible nor ineligible.

How lenders assess allied health income

Westpac, St.George, Bank of Melbourne and BankSA publish the same list of health professions, each with a maximum of 90% and a minimum income of $90,000 a year. Casual income is counted over 52 weeks, and the St.George group's pages say self-employed and casual professionals in these fields are included. If you earn less, look at ANZ or NAB for physiotherapy, chiropractic or optometry, or at Auswide Bank for psychology, none of which publish an income floor.

The Westpac group can also count 100% of overtime and allowances as income for physiotherapists, occupational therapists and medical imaging professionals. Its list does not name psychologists, chiropractors, optometrists, podiatrists, osteopaths, audiologists or speech pathologists. St.George needs 6 months of income evidence with the same employer and excludes the self-employed. APRA's guidance to banks says prudent practice is to discount most non-salary income, such as overtime, by at least 20%.

If you contract to a clinic or run your own practice, St.George says you may be eligible for the waiver whatever your contractor type, with self-employed contractors assessed under its self-employed rules. Westpac says its 90% waiver cannot be combined with its Fast Track assessment, so you are assessed under its 1-year or 2-year methods, which ask for business and personal tax returns. ANZ usually asks for one financial year of tax statements.

If you work in a public or not-for-profit hospital, the ATO caps the FBT exemption on packaged benefits at $17,000 of grossed-up value a year, and Westpac says it may count amounts you salary sacrifice as income available for repayments.

Registration lenders ask for

ANZ asks physiotherapists, chiropractors and optometrists for general registration with AHPRA, the national health practitioner regulator. NAB asks for current AHPRA registration and that you practise in an accepted field. ANZ also asks that the professional holds an equal or majority share in the property. The Westpac group does not publish a registration rule for these professions.

What if you are not eligible?

Roles that no lender names, such as allied health assistants, do not get these waivers. The 5% Deposit Scheme removes LMI for first home buyers with a 5% deposit, under a price cap, whatever your job.

ubank charges no LMI up to 90% for any occupation on purchases repaying principal and interest. For nurses and midwives, see home loans for nurses. For pharmacists, see home loans for pharmacists.

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

Frequently asked questions

Do physiotherapists get an LMI waiver?

Yes, at three lender groups. The Westpac group allows up to 90% with a $90,000 minimum income, ANZ allows up to 90% with no minimum income, and NAB names physiotherapists without publishing an LVR. CommBank's health package excludes physiotherapists.

Can psychologists get an LMI waiver?

Yes, at the Westpac group (up to 90%, $90,000 income) and Auswide Bank (up to 90%). ANZ lists psychologists as not eligible, CommBank's health package excludes them, and NAB's list names psychiatrists, not psychologists.

Do occupational therapists qualify for an LMI waiver?

Only at the Westpac group, as at 29 September 2026: up to 90% with at least $90,000 a year. ANZ lists occupational therapists as not eligible and NAB does not name them.

What about sonographers, audiologists and speech pathologists?

The Westpac group is the only lender we found that names them: up to 90% with a $90,000 minimum income. ANZ puts them on neither its eligible nor its ineligible list, and NAB does not name them.

Can a self-employed physio get an LMI waiver?

Yes, at the Westpac group. St.George, Bank of Melbourne and BankSA include self-employed professionals in their 90% waiver, with at least $90,000 a year, and St.George says the waiver can apply whatever your contractor type. Westpac says this waiver cannot be combined with its Fast Track assessment, so you provide business and personal tax returns under its 1-year or 2-year methods.

Can I use an allied health waiver on an investment property?

Yes, at some lenders. St.George, Bank of Melbourne and BankSA say the waiver applies whether you buy to live in or invest, Westpac says healthcare practitioners earning $90,000 can apply with a 10% deposit when investing, ANZ covers owner-occupier or investor loans, and Auswide Bank covers investment purchases.

Sources

Each source was checked on 29 September 2026.

Researched and maintained by

Andrew Wortman

PhD in Financial Studies, 5 years in finance

Every figure on this page comes from a lender, insurer, government or regulator source listed above. Read our editorial policy.

Published: 29 September 2026