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Thanks - doesn't sound that quick and easy though. I have another engineer who is going to join up soon (for the no LMI loan) but it could take a while to get this qualification.

I've never looked into it, but is it difficult to get chartered status? I just had one engineer client tell me they didn't qualify.

Some lenders have unadvertised specials...

become a chatered member of engineering australia. There are minimum income requirements, but these seem to be flexible.

Yes, I am doing a few more as well for Pharmacist and an accountant. Seems they are flexible on the min income requirments too.

Yes, I have just done a 90% LVR $1mil loan for a lawyer with no LMI. Huge saving there.

Not enough info. Based on the above why not pay $100k off your home loan and then borrow 80% for the new property, avoid LMI completely? You may not want to do this if the home will only be the home for a short period or if you are planning on buying a few more IPs quickly.