Most lenders cover medical professionals, lawyers, accountants and engineers. That means doctors, dentists and vets, solicitors and barristers, chartered accountants and actuaries, and civil, mechanical, electrical and chemical engineers. Some lenders go wider and include pharmacists, architects or other qualified occupations, but no two policies match exactly. Your qualifications, your income and, in some cases, membership of a professional body can all affect eligibility. If your profession isn't on a lender's list, it's still worth asking, because some will consider cases on their merits. We check your occupation against each lender's current policy before you apply, so you don't waste an enquiry on a lender that won't accept you.

It can save a lot, but check the details. The main benefits are a waived Lenders Mortgage Insurance premium on borrowing of up to 90% of the property's value and, often, a discounted interest rate. Against that, many professional packages carry an annual fee, and the discount sometimes applies only to certain loan types. The waiver also usually covers a home you'll live in, not an investment property. Whether it works out cheaper depends on your loan size, your deposit and how long you keep the loan. We compare the total cost over a realistic period, so you can see the real saving after fees rather than a headline rate.

Often, yes, but lenders want proof that you're properly qualified and employed. Graduate accountants, lawyers and engineers can usually qualify once their degree is complete and they have a signed employment contract. Some lenders ask that any probation period has finished, while others will lend during it if you can show a strong track record in your field. A fresh graduate's income is lower than a senior professional's, so borrowing power may be modest at first, but the LMI waiver can help you buy sooner with a smaller deposit. We look at your start date and contract terms to pick the lenders most comfortable with early-career professionals.

Differently from a salary. Barristers and sole practitioners are generally treated as self-employed. Lenders look at tax returns, notices of assessment and sometimes BAS statements, and they often want a couple of years of practice. Partners in a firm are usually assessed on drawings or distributions, which can swing from one year to the next. Professional status can still help, because many lenders see these careers as stable and will apply their professional policy, but the paperwork needs to be presented clearly. If your income is lumpy, the lender you choose matters even more. We'll tell you early which lenders understand how your type of practice earns.

Sometimes. The LMI waiver is mainly designed for owner-occupied purchases, so it often doesn't apply to an investment property, though some lenders still give professionals a better rate or higher borrowing limits on investment loans. Refinancing can work well. If your career has progressed since you first borrowed, mortgage refinancing to a professional package may get you a sharper rate and drop LMI if you're borrowing within the waiver limit. Switching has costs, such as discharge fees and possible break costs, so the savings need to outweigh them. We compare your current loan against the professional options before suggesting a change.

Going direct is fine if you already know which bank's policy suits you, but each lender defines "professional" differently, and a bank can only offer its own policy. A broker compares them all, and that matters when your occupation sits on the edge of a lender's list or your income isn't straightforward. As a mortgage broker working with professionals across Sydney, including the Hills district, the Eastern Suburbs and the Northern Beaches, we're used to the differences between lenders on loan limits, fees and eligibility. If you're a professional with a simple situation and a good deal from your bank, we'll say so, and if there's a better option, we'll show you the numbers.