Specialist Lending
Physiotherapists and chiropractors represent two of the largest allied health professions in Australia, both regulated by AHPRA. A subset of lenders includes these professions in their professional LMI waiver policies, allowing borrowing up to 90% LVR without LMI. The key distinction to understand: allied health professional waivers are available at fewer lenders than medical or legal waivers. But for those who qualify, the saving is identical -- $15,000 to $25,000 or more eliminated from the loan cost, and considerably more when the capitalised total over the life of the loan is considered.
Physiotherapists are registered with the Physiotherapy Board of Australia within the AHPRA framework. The current certificate of registration is the primary evidence required. The income picture for physiotherapists covers several arrangements:
Some lenders also ask for a letter from the employer or evidence of practice establishment alongside the AHPRA certificate. The professional LMI waiver applies to all of these arrangements, the income assessment methodology changes based on employment type, but the waiver is not contingent on the employment arrangement.
Chiropractors are registered with the Chiropractic Board of Australia within the AHPRA framework. The income profile is similar to physiotherapists: employed practitioners at established chiropractic clinics are PAYG; practice owners are self-employed. Chiropractic practice ownership often involves equipment finance (adjustment tables, imaging equipment) which affects the business's net income position. The self-employed income assessment for a chiropractic practice owner accounts for these obligations through the standard add-back methodology.
Both employed and self-employed chiropractors can qualify for the professional LMI waiver. The waiver applies to the residential home loan application, it is separate from any practice purchase or equipment finance arrangements.
Several other AHPRA-registered allied health professions are in a comparable position to physiotherapists and chiropractors within the professional LMI waiver market:
Dietitians and exercise physiologists are less commonly included. Lender policies in this space change more frequently than for medical or legal professions. A broker checks current policy rather than relying on information from 12 or more months ago, because a lender that included a specific allied health profession previously may have adjusted its policy in either direction.
For lenders that include allied health professions in their professional LMI waiver policy, the standard limit is 90% LVR. Some lenders cap the waiver at 85% for professions below physiotherapy in their policy hierarchy. Loan size caps are typically lower than for medical or legal professions: $1.5 million to $2 million is the common range. A smaller number of lenders extend to $2.5 million for the highest-earning allied health borrowers.
Investment property purchases are available at some lenders on the same 90% LVR cap as owner-occupied. Standard residential security requirements apply: houses, units, and townhouses on residential titles. Mixed-use, rural, and specialist security types are excluded.
Entry-level physiotherapist salaries in the NSW public health system start at approximately $70,000 to $78,000 under the relevant Health Professional Employees Award. Experienced senior physiotherapists in specialist roles, musculoskeletal, neurological, or paediatric, typically earn $90,000 to $120,000. Private practice owners with an established patient base can generate significantly more, with net income from a well-run practice often reaching $130,000 to $200,000 or more.
Demand for physiotherapy, chiropractic, and other allied health services continues to grow across Australia, and new medical and allied health precincts in growing suburbs have widened employment options for qualified practitioners. That steady demand is part of why lenders regard these professions as low-risk borrowers.
AHPRA registration is granted on completion of an accredited physiotherapy or chiropractic program. The LMI waiver is available from the date of registration, there is no waiting period after qualification. Income assessment is a separate consideration: lenders typically want at least three to six months of payslips for a standard serviceability assessment. Some lenders will accept a signed employment contract alongside AHPRA registration for new graduates purchasing before or shortly after starting work, though this is lender-specific and not universal.
A new graduate who has received their AHPRA registration, accepted a graduate position, and accumulated three months of payslips is in a viable position at a number of lenders. A broker working with new allied health graduates regularly will know which lenders take the most practical approach to this situation.
Yes. A physiotherapist operating as a sole trader, running their own private practice under an ABN, can qualify for the professional LMI waiver, provided they hold current AHPRA registration under the Physiotherapy Board of Australia. The income assessment changes: a sole trader is assessed as self-employed, requiring two years of personal tax returns. Add-backs for legitimate business expenses (professional indemnity insurance, registration fees, equipment) apply. The LMI waiver removes the insurance premium from the home loan application, but it does not alter the income assessment methodology. A broker will identify which lenders apply the most favourable self-employed income treatment for a physio sole trader while still carrying the professional waiver.
Physiotherapists and chiropractors are among the most commonly included allied health professions, along with podiatrists and osteopaths. Pharmacists and optometrists also appear in some lender policies. Occupational therapists, dietitians, speech pathologists, and psychologists are included at fewer lenders and are less reliably available. The professions with the broadest coverage remain medical doctors, dentists, and legal professionals, allied health has narrower but still meaningful access. A broker checks current policy, because lender coverage of specific allied health professions shifts more frequently than for medical or legal professions.
Yes, in most cases. The LMI waiver is available from the date of AHPRA registration under the Physiotherapy Board of Australia, which is typically granted on completion of an accredited physiotherapy program. You do not need 12 months of employment to access the waiver itself, that is the credential requirement. Income assessment is a separate matter: lenders typically want at least three to six months of payslips for a standard PAYG assessment, though some will accept a signed employment contract alongside AHPRA registration for new graduates purchasing close to their start date. A broker can identify which lenders take the most pragmatic approach for recent graduates in this position.
Michael works with physiotherapists, chiropractors, and other allied health professionals buying across Australia. A free 30-minute call will confirm which lenders currently carry the professional waiver for your AHPRA-registered profession, how your income will be assessed, and what your borrowing capacity looks like at the most suitable lender for your situation.
