Last Updated: 18th October, 2022

Doctor Mortgages & Medical Discounts

Published by Otto Dargan on September 5, 2011

*Update: Discover up-to-date information about mortgage discounts for medical professionals on our Home Loans For Doctors page.

A new bank has just launched an expanded professional discount package for medical professionals. This discount allows you to borrow up to 90% LVR (90% of your property value) without paying any Lenders Mortgage Insurance (LMI)!

This change will bring home ownership a step closer for many young doctors and will make investing that much easier for established professionals looking to grow their investment portfolio.

To qualify, you must be working in one of the eligible professions and be a member of one of the eligible associations.

This new lender has a significantly longer list of eligible professions, allowing more people to qualify for waived LMI!

Current eligible professions

You must be working in one of the below professions to be eligible for a doctor mortgage.

  • Anaesthetist
  • Cardio Thoracic Surgeon
  • Cardiologist
  • Chiropractors
  • Clinical Pharmacologist
  • Cosmetic Surgeon
  • Dentist
  • Dental Specialist
  • Dermatologist
  • Ear and Throat Surgeon
  • Emergency Medicine Specialist
  • Emergency Surgeon
  • Endocrinologist
  • Gastro Intestinal Surgeon (Upper/Lower)
  • Gastroenterologist
  • General Practitioner
  • General Surgeon
  • Gynaecologist
  • Haematologist
  • Hepatologist
  • Herpetologist
  • Immunologist
  • Intern (Hospital Employed)
  • Nephrologist
  • Neurosurgeon
  • Neurologist
  • Obstetrician
  • Oncologist
  • Opthalmologist
  • Optometrist
  • Oral and Maxillofacial Surgeon
  • Orthopaedic Registrar
  • Orthopaedic Surgeon
  • Otolaryngologist
  • Paediatric Surgeon (Neonatal/Perinatal)
  • Pathologist
  • Pharmacist
  • Physiotherapist
  • Plastic Surgeon
  • Psychiatrist
  • Radiologist
  • Reconstructive Surgeon
  • Registrar
  • Resident Medical Officer
  • Residents (Hospital Employed)
  • Respiratory/Thoracic Surgeon
  • Rheumatologist
  • Specialist Physician
  • Staff Specialists (Hospital Employed)
  • Surgeon
  • Urologist
  • Vascular Surgeon
  • Veterinarian

Current eligible associations

You must be a member of one of the below associations to be eligible for a doctor mortgage. Where you aren’t a member, there may be some exceptions to policy, depending on the strength of your application.

  • Australian Association of Practice Managers
  • Australian College of Rural and Remote Medicine (ACRRM)
  • Australian Dental Association (ADA)
  • Australian Dental Council (ADC)
  • Australian Veterinary Business Association
  • Australian Veterinary Association
  • Australian Medical Association (AMA)
  • Australian Medical Council (AMC)
  • Australasian College for Emergency Medicine (ACEM)
  • Australasian College of Cosmetic Surgery (ACCS)
  • Australasian College of Dermatologists (ACD)
  • College of Intensive Care Medicine of Australia and New Zealand (CICM)
  • Medical Practitioners Board of Australia
  • Royal Australasian College of Dental Surgeons (RACDS)
  • Royal Australasian College of Medical Administrators (RACMA)
  • Royal Australian and New Zealand College of Obstetricians and Gynaecologists (RANZCOG)
  • Royal Australian and New Zealand College of Ophthalmologists (RANZCO)
  • Royal Australasian College of Surgeons (RACS)
  • Royal Australasian College of Physicians (RACP)
  • Royal College of Pathologists of Australasia (RCPA)
  • Royal Australian and New Zealand College of Psychiatrists (RANZCP)
  • Optometrists Association Australia
  • The Australia and New Zealand College of Anaesthetists (ANZCA)
  • The Royal Australian College of General Practitioners (RACGP)
  • The Royal Australian and New Zealand College of Radiologists (RANZCR)
  • Urological Society of Australia and New Zealand (USANZ)
  • Other associations on a case by case basis

Would you like to have your LMI premium waived?

Please call us on 1300 889 743 or enquire online and one of our mortgage brokers can assist you in applying for these special discounts that are not available to the general public.

Previous eligible professions

Previous to this policy update, the accepted professions for special discounts were:

Doctors of Medicine (e.g. Anaesthetists, Dermatologists, Gynaecologists), Dentists, Physiotherapists, Radiologists, Osteopaths, Psychiatrists, Veterinarians, Chiropractors, Optometrists, Surgeons, Radiographers (case by case) and Pharmacists (case by case).

Find out more about professional discounts

You can read more on our page about home loans for doctors or alternatively give us a call on 1300 889 743 and one of our mortgage brokers will help you to apply for a discounted mortgage with a major lender.

If you work odd hours then feel free to enquire online and our specialist team will help you get great discounts!

Waived LMI for Nurses & Midwives on up to 90% LVR home loans. Call 1300 889 743 or enquire online.


labelCategory: Policy Changes, Unusual Employment Loans