Home Loan Advantages For Lawyers

Home Loan With Advantages to Lawyers, Barristers & Solicitors

As a lawyer, you may be eligible for discounts when applying for a home loan. Lawyers are low-risk borrowers due to great long term career prospects, high income and because they rarely default on their home loans.

These lower risk factors make you eligible for a home loan with only a 10% deposit of the property value without needing to pay Lenders Mortgage Insurance (LMI) and without the need for parental guarantor.

Advantages exist for owner occupier and investment.

Added benefit of fee waivers on your home loan.

What We’re Offering

Benefits Available to Lawyers, Barristers & Solicitors

Home Loan for Lawyers

What is the Eligibility to Qualify

  • Individuals no an annual income of $120,000 depending on the State you live in. If needed, rental income or income from professional partner can be used to contribute to your annual income
  • You will need to be a part of an industry association like the Law Council of Australia or the Law Society of NSW. Some lenders require no evidence but will still require qualification/degree or proof that you are still practising law
  • Self-employed lawyers, will need to provide evidence that last year’s taxable income was a minimum of $120,000 and will need a copy of practicing certificate
  • As per the Judiciary Act 1903, Judges and Australian Government Solicitors do not require a practising certificate which means that you may still be considered for an LMI waiver without the certificate
  • Australian residency or citizenship
  • You must be a current practising law professional
  • Good credit rating
  • Not on probation
  • You may be asked to provide evidence of your degree and industry membership.
  • Can purchase either owner occupied or for investment property and Maximum loan of $2 million..
Eligibility To Qualify Home Loans For Lawyers
Refinance Home Loan For Lawyers

How you can refinance your home & get access to cash and a deposit for an Investment Home

Should I go direct to a Bank or via a Mortgage Broker

Brisbane Home LoansHome Loan For Lawyers

Do I need to be a member of an industry association?

Most lenders will require evidence of one of the following memberships:

  • Queensland Law Society
  • Law Council of Australia
  • The Australian Bar Association
  • Law Institute of Victoria
  • Australian Labour Law Association
  • Australian Corporate Lawyers Association
  • The Commercial Law Association of Australia
  • Australian Insurance Law Association
  • Law Society of NSW
  • Law Society of South Australia

Some lenders will require copies of degree and evidence that you are currently practicing.

Eligibility To Qualify Home Loans For Lawyers
Brisbane Home LoansHome Loan For Lawyers

What is Lenders Mortgage Insurance (LMI)

What legal professionals are eligible for a LMI waiver?

LMI Waiver For Legal Professionals
Brisbane Home LoansHome Loan For Lawyers

Are Judges and Magistrates eligible for waived LMI?

Checklist for lawyers or legal professionals looking for a mortgage

Unlock Your Financial Potential

Our Free 30-Minute Investment Consultation.

Learn How to Build a Profitable Investment Portfolio and Maximize Your Returns.

First Home Buyers Love Us

We Fight Hard For Your First Loan

  • As per the Judiciary Act 1903, Judges and Australian Government Solicitors do not require a practising certificate which means that you may still be considered for an LMI waiver without the certificate.
Strong financial position that allows less than 80% of the property value can result in discounted interest rates and reduced fees. Depending on all circumstances, the saving in interest rates could be considerable. Our Mortgage Brokers can guide you on the potential benefits.
As a respected legal professional, the risk of default on the loan has been very low based on historical information. Lenders Mortgage Insurance (LMI) as the name suggests, is predominantly required by the Lender to protect against mortgage default, hence why lenders are prepared to waive this for legal professionals.
Different lenders offer different discounts, and lawyers must meet the lending criteria. If you are purchasing a property with one or more other borrowers, you will need to hold at least 50% interest in the mortgaged property.

All major lenders offer specialised loans specifically for Lawyers, Barristers, Solicitors and other legal professionals.

Most other second and third tier lenders also offer similar products with varying levels of benefits that appeal individual clients based on their specific requirements.

Brisbane Home Loans Mortgage Brokers are professionally trained to find the right loan specific for your your needs.