Can allied health professionals get a Lenders Mortgage Insurance waiver?

Lenders Mortgage Insurance waivers are well known for doctors, but they are not always limited to them. Some lenders extend similar treatment to a range of allied health professionals. If you work in allied health, it is worth knowing whether your role might qualify. Here is how it works.

Waivers can reach beyond doctors

While medical waivers are best known, some lenders apply similar policies to allied health professionals, recognising stable income and low risk across these groups. Where offered, the waiver removes the Lenders Mortgage Insurance premium a borrower with the same deposit would normally pay.

Which roles may be included

The allied health roles a lender may include vary, but they commonly cover professions such as pharmacists, optometrists, physiotherapists, chiropractors and veterinarians. Some lenders include a broader list than others, and the precise eligible occupations depend on the individual lender policy.

How far the waiver may go

Where an allied health waiver is offered, it may allow borrowing at a higher loan to value ratio than standard without the premium, in some cases up to around 90 per cent. Whether it applies, and the exact maximum, depends on the lender, so this is a policy some lenders offer rather than a guarantee.

Conditions still apply

As with any professional waiver, you still need to show you can service the loan, and lenders may attach conditions such as registration with the relevant body, minimum income, or loan size limits. The waiver removes the premium, not the rest of the assessment.

Not every lender offers it

Allied health waivers are less widespread than doctor waivers, and lenders differ in the roles they accept and the terms they set. So the same allied health professional could be offered a waiver by one lender and not another, which is why matching to the right lender matters.

Compare the whole loan

A waiver is a saving, but the best outcome comes from a loan that suits you overall. It is worth weighing the rate, fees and features alongside the waiver, rather than choosing a loan purely because it offers one.

Confirm your eligibility

Because these waivers vary so much, the useful step is to confirm whether your specific role qualifies and with which lenders. A broker who works with professional borrowers can check this for you, usually at no cost to you. This is general information, not advice.