Professions that can Borrow up to 90% without Lenders Mortgage Insurance.
Exciting industry update for healthcare professionals that qualify, St George has extended their list of professionals who are eligible for borrowing up to 90% without incurring any Lenders Mortgage Insurance.
From 3rd April 2022, St George has extended their list of professions in their Medico Policy to include the following professions:
- Audiologist
- Occupational therapist
- Osteopath
- Podiatrist
- Psychologist
- Radiographer
- Sonographer
- And speech pathologist
What are the requirements to qualify?
- The customer has to earn a minimum income of $90,000 to be eligible.
- Confirm their qualification or employment through the following:
- Most recent Australian tax return or
- Copy of Australian university degree or qualification, or
- Copy of registration with the Medical Practitioners Board of Australia, APRHA or equivalent professional body.
So what does this mean for those who qualify?
They will be eligible to borrow up to 90% of the value of the property for owner-occupied or investment.
Benefits of LMI waiver
Assuming that you are to purchase a property for $500,000, with 10% deposit you would normally pay $9800 in mortgage insurance.
Under the medico policy, this will only cost you $0
If you are interested know if you qualify, drop us an email at [email protected]
