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Physiotherapist home loans — registration, deposit and LMI
For physiotherapists on a deposit under 20%. Every lender row verified on 2026-08-09.
Can a physiotherapist get an LMI waiver?
Yes. ANZ, Westpac Group and NAB each waive lenders mortgage insurance for physiotherapists, under policy documents Money Brain read on 2026-08-09. CBA, Bankwest and Suncorp exclude physiotherapists by name in their own documents. Three of the eleven lenders on the panel waive it.
How high can a physiotherapist go without paying LMI?
The ceiling is set by each lender, not by the profession. On the documents Money Brain read on 2026-08-09, ANZ waives to 90% of the property value on principal and interest, Westpac Group to 90% with a minimum $90,000 gross from the qualifying profession, and NAB to 95% owner-occupied or 90% investment. One lender's limit does not carry across to another.
Which banks waive LMI for physiotherapists?
| Lender | Covers | Max LVR | Conditions |
|---|---|---|---|
| ANZ | Medical Group 2 (physio, chiro, optometrist, vet) | 90% P&I OO & INV | not eligible for 95%; medico rate concessions apply Read 2026-08-09. |
| Westpac Group (Westpac - St George - Bank of Melbourne - BankSA) | Medico Group B (incl. REGISTERED NURSE, midwife, pharmacist, physio, psychologist, optometrist, vet + allied) | 90% P&I | min $90K combined gross from eligible qualification(s) Read 2026-08-09. |
| NAB | Medical practitioners (GP, surgeons, specialists, dental excl. hygienists, chiro, optometrist, pharmacist, physio, vet) | 95% OO / 90% INV | AHPRA (or vet board); primary income from profession; security <=$4.5M. REGISTERED NURSES NOT INCLUDED (NAB's own doc) Read 2026-08-09. |
| CBA | Physiotherapists excluded by name | No waiver | MAV package required; P&I only; EXCLUDES physio, psych, NURSES; pharmacists need $100K gross Read 2026-08-09. |
| Bankwest | Physiotherapists excluded by name | No waiver | EXCLUDES physio, psych, nurses Read 2026-08-09. |
| Suncorp | Physiotherapists excluded by name | No waiver | min new lending $250K; max TCE $1.5M; P&I; no pre-approvals, bridging, construction, IO Read 2026-08-09. |
| Macquarie | No group names a physiotherapist | No waiver | Professional and medico waiver withdrawn. Read 2026-08-09. |
| ING | No group names a physiotherapist | No waiver | confirmed absence Read 2026-08-09. |
| AMP | No group names a physiotherapist | No waiver | confirmed absence Read 2026-08-09. |
| Teachers Mutual Bank group (Teachers Mutual - Firefighters Mutual - Health Professionals Bank - UniBank) | No group names a physiotherapist | No waiver | A teacher banking with Teachers Mutual still pays LMI above 80%. The name is a membership definition, not a waiver. The only no-LMI path is the government Home Guarantee Scheme. One ADI, four brands, Read 2026-08-09. |
| Bank First | No group names a physiotherapist | No waiver | No group in the policy names a physiotherapist. Read 2026-08-09. |
Every row verified on 2026-08-09
Eleven publish-ready rows. Undated marketing claims are not in this table.
ANZ, Westpac Group and NAB waive lenders mortgage insurance for physiotherapists. 8 lenders do not, 3 of them excluding physiotherapists by name. Every row here was read from the lender's own policy document on 2026-08-09.
Find out which of these would say yes to you
One short call and you will know which lenders your registration meets.
What decides a physiotherapist's answer, lender by lender
Who a physiotherapist waiver is written for
A professional waiver is written for a physiotherapist holding current general registration with the Physiotherapy Board of Australia and practising in Australia. The lenders that waive it name the registration in their own documents rather than a job title, which is why the table above quotes each lender's own group wording instead of paraphrasing it.
Who is usually outside it
Student registration, limited registration and non-practising registration are not general registration, and a waiver written for a registered physiotherapist does not reach them. An accredited exercise physiologist is accredited by Exercise and Sports Science Australia rather than registered with the Physiotherapy Board, so that is a different application. Physiotherapy assistants, aides and myotherapists sit outside it too.
A no by name is different from silence
A lender whose document names your profession in an exclusion has given a dated answer. A lender whose document simply does not list you has not. Money Brain publishes both, marked differently, because applying to the first is a wasted enquiry and the second is a question worth asking.
How much is LMI on a 10% deposit?
On one lender's published premium card, read on 2026-08-11, a 10% deposit is charged 2.10% of the loan between $300,000 and $600,000 — about $9,450 on a $450,000 loan. Above $600,000 the rate is 2.68%, or roughly $20,100 on a $750,000 loan. A waiver removes it entirely. Premiums vary between lenders; these figures are indicative.
What deposit do I actually need?
A physiotherapist using a waiver needs the lender's minimum deposit plus the purchase costs, because the waiver removes the mortgage insurance premium and nothing else. Stamp duty, legal fees, the building inspection and lender fees are still paid in cash, and those are the costs people underestimate when they budget.
How a physiotherapist's income is assessed, and what is not published
How you are paid is a separate test
A waiver decides whether lenders mortgage insurance is charged, not whether the income is accepted, and the two are assessed separately. A physiotherapist on a clinic, hospital or aged-care payslip has the cleanest file: base salary, year-to-date figures and an employment letter. Whether regular overtime and allowances count in full is set per lender, and Money Brain does not publish a position it has not read.
Contracting on an ABN, or owning the practice
Many Australian physiotherapists invoice a clinic on an ABN rather than sit on a payslip, and a lender reads that as contractor income — contract history, invoices or business activity statements, and usually tax returns. A physiotherapist who owns the practice is assessed on the business itself. The profession can still remove the mortgage insurance while the income evidence decides the answer.
Applying to a lender that excludes you
A declined application is recorded on your credit file and makes the next one harder, which is why the checking happens before submission. For a physiotherapist the common version is applying to CBA, Bankwest and Suncorp, each of which excludes the profession by name.
Questions
ANZ, Westpac Group and NAB. ANZ goes to 90% P&I OO & INV of the property value. Darren Parker, Credit Representative 501592, read each policy on 2026-08-09.
Sources and check dates
Every lender row carries the policy document it came from, each read on 2026-08-09. Premium figures come from one lender's published card, read 2026-08-11. Only publish-ready document-grade rows appear in the table.
Who wrote this page
Darren Parker, Credit Representative 501592, authorised under Australian Credit Licence 389328. Darren reads these lender policies himself and dates every row. If a lender's position has changed since the date shown, tell him.
Find out where you stand before you apply
Updated 13 September 2026