Eligibility depends on the lender, but the most common requirements include:
Most lenders require your role to fall into one of the following categories:
Lawyer or solicitor
Barrister
Judge or magistrate
Legal counsel
Senior legal executive
Government or corporate legal practitioner
You may also need to provide:
Current practising certificate, and
Proof of employment in a recognised legal organisation.
Lenders typically look for:
Permanent full-time or part-time work
Consistent income history
Completion of probation where relevant
Clear, predictable income for serviceability
To qualify for an LMI waiver or low-deposit loan, you generally need:
A clean credit report
No recent defaults
Responsible credit use
Evidence of savings or financial discipline
Even with perks, lenders still assess:
Borrowing capacity
Living expenses
Existing debts
Loan affordability under buffer rates
Many lenders offer up to 90% LVR with no LMI for eligible legal professionals
Some may offer additional benefits for owner-occupied properties
Investment loans may be treated differently, depending on the lender
