“Many lenders recognise a significantly reduced risk of default when lending to a professional. This allows them to waive the LMI fees other borrowers are requiredto pay”

Certain banks and lenders have finally recognised that professionals offer then a better risk profile than the average borrower.

Professionals typically have stable employment, in-demand skills, and above average salaries.

For all these reasons, banks are willing to give better interest rates and/or other benefits, such as waived LMI, because they see you as a low risk.