Home / Who we help / Vets
5 lenders waive LMI for vets. 6 do not.
For vets on a deposit under 20%. Every lender row verified on 2026-08-09.
Can a vet get an LMI waiver?
Yes. ANZ waives lenders mortgage insurance for vets to 90% P&I OO & INV of the property value, under a policy Money Brain read on 2026-08-09. 5 of the eleven lenders on the panel waive it.
How current is this page?
Every lender row on this page carries the policy document it came from and the date Money Brain read it. Only rows Money Brain holds a dated document for appear here — a lender claiming a waiver on its own marketing page is not the same evidence and is not in the table.
Which banks waive LMI for vets?
| 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. |
| CBA | Medical (AHPRA-registered non-vet; state-board vet; dentist) | 89.99% Professionals Offer; 94.99% Medico Plus+ INVESTMENT P | MAV package required; P&I only; EXCLUDES physio, psych, NURSES; pharmacists need $100K gross 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. |
| Bankwest | Medical (40+ specialities incl. GP interns/residents, dentist, optometrist, pharmacist, vet) | 89.99% (loan <=$2M) / 84.99% (<=$3M) | EXCLUDES physio, psych, nurses Read 2026-08-09. |
| Suncorp | No group names a vet | No waiver | No group in the policy names a vet. Read 2026-08-09. |
| Macquarie | No group names a vet | No waiver | Professional and medico waiver withdrawn. Read 2026-08-09. |
| ING | No group names a vet | No waiver | confirmed absence Read 2026-08-09. |
| AMP | No group names a vet | No waiver | confirmed absence Read 2026-08-09. |
| Teachers Mutual Bank group (Teachers Mutual - Firefighters Mutual - Health Professionals Bank - UniBank) | No group names a vet | 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 vet | No waiver | No group in the policy names a vet. Read 2026-08-09. |
Every row verified on 2026-08-09
Eleven publish-ready rows. Undated marketing claims are not in this table.
ANZ, CBA, Westpac Group, NAB and Bankwest waive lenders mortgage insurance for vets. 6 lenders do not. 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 vet's answer, lender by lender
Your registration, not your job title
A waiver policy tests veterinary board registration, not what your payslip calls you. The lenders that waive it name the registration in their own documents, which is why the table above quotes the group each lender uses rather than paraphrasing it.
The limit differs at every lender
The maximum a lender will go to without charging mortgage insurance is set per group, and the groups are not the same shape at any two lenders. Some carry a minimum income, some a maximum loan, and several restrict it to owner-occupier lending or to principal and interest.
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 vet 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 vet's income is assessed, and what is not published
Income treatment is not published here
How each lender treats a vet's income — bonuses, overtime, self-employed earnings, a share of a practice or a partnership — is a lender-by-lender question Money Brain has not finished reading documents for. No position is asserted on this page, because an unsourced one would be worth less than nothing.
Self-employed changes the question
A vet who owns the business is assessed on the business, not on a payslip, and that is a different test from the waiver itself. The two interact: a waiver can be available while the income evidence is what actually 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. Checking which lenders name your profession is the whole of it.
Questions
ANZ, CBA, Westpac Group, NAB and Bankwest. 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