Medical Professionals and Home Loans in Double Bay

Medical Professional Lending Policies in Double Bay

Several lenders operate dedicated lending policies for medical professionals that differ from standard home loan assessment. These policies centre on LMI waivers, higher LVR thresholds and loan amount limits that are not available to borrowers outside eligible professions. Approval under these policies remains subject to credit assessment and standard lending criteria.

Double Bay sits in the 2028 postcode, adjacent to Darling Point and Edgecliff (2027), Rose Bay (2029) and Vaucloss (2030). These postcodes appear in CBA's category 1 postcode list under the Medico Plus+ offer, which sets a maximum LVR of 89.99% for properties in these areas. Bankwest excludes high-density off-the-plan purchases and developer sales in restricted postcodes from its LMI waiver offer. If you're a GP working at one of the practices along New South Head Road or a specialist consulting at The Medical Centre Double Bay, understanding which lender aligns with your postcode and property type determines whether you can access the full benefit of these policies.

How AHPRA Registration Determines Eligibility

Across NAB, CBA, Bankwest and Westpac, non-veterinary medical practitioners are required to hold current AHPRA registration. The type of registration you hold determines whether you meet the eligibility threshold.

NAB accepts general registration, specialist registration, provisional registration and limited registration for postgraduate training or supervised practice. NAB does not accept student registration, non-practising registration, limited registration for area of need, teaching or research, or public interest registration.

CBA and Bankwest require the registration status to be Registered and the registration type to be General or Specialist for most eligible professions. CBA also accepts Provisional registration for pharmacists. Bankwest confirms eligibility for registrars across eligible fields.

Veterinary practitioners are verified separately through state and territory veterinary boards rather than AHPRA. If you're a vet working at a clinic in the Eastern Suburbs, your registration comes through the Veterinary Practitioners Board of New South Wales rather than the federal AHPRA system, but you remain eligible under the same lender policies.

Documentation is straightforward. Bankwest and CBA require a printed or saved confirmation from the AHPRA website showing the practitioner's name, profession, registration status and registration type. Evidence of profession and registration must be included in the application prior to or at the time of submission.

Which Medical Occupations Qualify

Lists vary between lenders and an occupation eligible under one lender may not appear on another lender's list.

NAB eligible occupations include anaesthetist, chiropractor, dental practitioner (dental therapists, oral health therapists, hygienists and assistants are not eligible), dermatologist, general practitioner, obstetrician and gynaecologist, ophthalmologist, optometrist, paediatrician, pathologist, pharmacist, physician, physiotherapist, psychiatrist, radiation oncologist, radiologist, surgeon and veterinary practitioner.

CBA eligible occupations include a broader list covering anaesthetist, cardiothoracic surgeon, cardiologist, clinical pharmacologist, cosmetic surgeon, dentist, dermatologist, ear nose and throat surgeon, emergency surgeon, endocrinologist, gastrointestinal surgeon, gastroenterologist, general practitioner (including interns and residents), general surgeon, gynaecologist, haematologist, hepatologist, immunologist, nephrologist, neurosurgeon, neurologist, obstetrician, oncologist, ophthalmologist, optometrist, oral and maxillofacial surgeon, orthopaedic consultant, orthodontist, otolaryngologist, paediatric surgeon, pathologist, plastic surgeon, podiatrist, psychiatrist, radiologist, reconstructive surgeon, respiratory or thoracic surgeon, rheumatologist, surgeon, urologist, vascular surgeon, pharmacist and veterinarian. CBA excludes physiotherapists, psychologists and nurses from this offer.

Bankwest covers the same broad occupation list as CBA and also includes registrars across eligible fields. Bankwest excludes physiotherapists, psychologists and nurses.

St.George and Westpac list dentists, general practitioners, medical specialists and hospital-employed doctors including interns, residents, registrars and staff specialists as eligible for the 95% LVR waiver with no minimum income requirement. Additional medical occupations including audiologists, chiropractors, midwives, registered nurses, occupational therapists, osteopaths, physiotherapists, podiatrists, psychologists, radiographers, sonographers, speech pathologists, optometrists, pharmacists and veterinary practitioners are eligible for the 90% LVR waiver subject to a minimum income of $90,000 per annum.

Consider a registrar in orthopaedic surgery renting in Bellevue Hill and looking to purchase an apartment in Rose Bay. Under CBA or Bankwest, that registrar qualifies for the same LMI waiver as a consultant surgeon. Under NAB, registrars are not listed as a standalone occupation and may not qualify unless their role meets one of the listed categories. Under St.George and Westpac, registrars are explicitly covered at the 95% LVR tier with no minimum income requirement. Knowing which lender covers your specific role matters when the difference is a five percent deposit versus a ten percent deposit.

LVR Limits and Loan Amount Caps Across Lenders

NAB permits a maximum LVR of 95% for owner-occupied lending and 90% for investment lending. No individual supporting security can exceed $4.5 million in market value, and aggregate NAB consumer lending cannot exceed $7 million.

CBA standard medical professional offer permits a maximum base LVR of 89.99% per security for property values up to $3 million. Debt to income ratio cannot exceed 6. Maximum lending per customer is $5 million.

CBA Medico Plus+ offer is available to eligible medical professionals for higher LVRs and security values. For owner-occupied and investment properties with a security value below $3 million, the maximum LVR without LMI or LDP is 89.99% and with LMI or LDP is 94.99%. Investment property purchases can have a maximum LVR of 94.99% with or without LMI for property values up to $3 million. Maximum aggregated lending with LMI or LDP waiver is $7.5 million. Maximum aggregated lending with LMI or LDP is $5 million per customer.

Bankwest permits a maximum loan amount of $5 million per borrower. Maximum LVR of 89.99% with a loan amount up to $2 million per security. Maximum LVR of 84.99% with a loan amount up to $3 million per security. Principal and interest repayments are required.

St.George and Westpac permit a maximum loan amount of $5 million, or $7.5 million total lending with LMI waiver. 95% LVR is available for the highest-tier medical occupations with no minimum income requirement. 90% LVR is available for the secondary occupation tier with a minimum income of $90,000 per annum.

If you're purchasing a property in the Double Bay or Darling Point area at the suburb's current median, CBA's Medico Plus+ postcode restriction means your maximum LVR under that offer is 89.99%, not 94.99%. You can still access a low deposit loan through CBA's standard medical professional offer or switch to NAB, St.George or Westpac, which do not apply the same postcode restriction.

Income Requirements and Assessment Methods

NAB requires the primary source of income to be derived from the eligible medical profession. St.George and Westpac apply a minimum income threshold of $90,000 per annum for the 90% LVR waiver category, with no minimum income requirement for the 95% LVR category. CBA does not list a minimum income requirement for medical professionals under its standard medical professional offer, though pharmacists are assessed on individual income only and not total application income.

For medical professionals working across multiple income streams, the structure matters. If you work three days in private practice and two days in a public hospital, lenders assess whether the combined income meets the requirement that the primary source is derived from the eligible profession. If your primary income is property investment and you work one day a week as a locum, you may not meet the threshold.

Self-Employed Medical Professionals and Fast Track Assessment

Self-employed medical professionals can be assessed under a Fast Track method using the two most recent years of individual ATO Notices of Assessment for borrowing up to 80% LVR. Eligible medical professionals can still access LMI waivers up to 95% LVR even when assessed under Fast Track. For non-Fast Track applications, a one-year assessment or the most recent year's income may be accepted for eligible applicants who meet the relevant criteria.

A dermatologist operating a private practice in Double Bay with two years of ATO Notices of Assessment showing consistent income can be assessed under Fast Track up to 80% LVR, then access the medical professional LMI waiver for the additional 15% under St.George or Westpac or up to 89.99% under CBA. The Fast Track method shortens the documentation process but does not replace the requirement for AHPRA registration and occupation verification.

Borrowing Through a Trust or Company Structure

CBA permits eligible medical professionals to borrow through a trust provided the applicant is a director or trustee. NAB policy documents confirm that where a company or trust structure is involved, the eligible individual must meet specific structural criteria or the waiver reverts to the standard process. These conditions are covered in detail in the separate article on borrowing through trust and company structures.

If you operate through a medical services entity or family trust, confirm with your broker whether the lender's medical professional policy extends to the structure you use. Some lenders permit the waiver only when the individual borrows in their personal name, even if the income is earned through a corporate trustee.

What You Need to Provide

For non-veterinary professionals, lenders require confirmation of AHPRA registration status and type. Bankwest and CBA require a printed or saved confirmation from the AHPRA website showing the practitioner's name, profession, registration status and registration type. For veterinary practitioners, registration is confirmed through the relevant state or territory veterinary board. Evidence of profession and registration must be included in the application prior to or at the time of submission.

The AHPRA confirmation is a screenshot or PDF from the online register. It takes less than two minutes to generate. If your registration has recently been renewed or changed, check that the document you provide reflects the current status, not an expired or provisional status that no longer applies.

Postcode Restrictions and Property Type

CBA's Medico Plus+ offer references category 1 postcodes relevant to Double Bay and surrounding suburbs. Postcodes listed in the CBA policy document as category 1 include Darling Point and Edgecliff (2027), Rose Bay (2029) and Vaucluse, Dover Heights, Rose Bay North and Watsons Bay (2030), among others. Under the Medico Plus+ offer, properties in postcode-restricted areas have a maximum LVR of 89.99%. Bankwest excludes high-density off-the-plan purchases and developer sales in restricted postcodes from its LMI waiver offer.

If you're purchasing an established apartment in a building along Blackburn Gardens or New Beach Road, the postcode restriction applies under CBA Medico Plus+ but does not prevent you from accessing the standard CBA medical professional offer or switching to another lender. If you're purchasing an off-the-plan apartment in a new development, Bankwest may exclude that property from its LMI waiver even if your occupation qualifies. NAB, St.George and Westpac do not reference the same postcode restrictions in their policy documents for the Double Bay area, though individual property assessments may still apply.

Call one of our team or book an appointment at a time that works for you. We work with medical professionals across Double Bay, Darling Point, Rose Bay and the Eastern Suburbs and can walk you through which lender aligns with your registration, occupation, property type and borrowing capacity.

Frequently Asked Questions