Special Mortgage Loans for Medical Professionals
Medical professionals have generally been known as stable and financially secure professions in the western world. In Australia, most of these professions have a special loan consideration by lenders.
What are medical professional packages?
Medical professional packages are special loan policies and offerings tailored by certain banks to target medical professionals. Some professions in the list include, dentist, medical practitioner, pharmacist, physio, chiropractor and many others.
What are the benefits?
Most housing loans require a minimum of 20% deposit otherwise the buyer would have to pay the lenders mortgage insurance (LMI). But for professions that can qualify for the medical professional package, the initial deposit can be between 5% to 10% and the buyer may be exempted from paying the LMI.
Not only will this save buyers on spending on the LMI, but this gives the buyer extra cash to spend on renovations and household goods.
Access to a Relationship Manager
For buyers who qualify for a medical professional package, they will be assigned to a personal relationship manager.
A relationship manager will make arrangements to help the buyer to save time and this gives them easier access to bank services.
Competitive Rates
The rates offered to medical professionals eligible for the package may also include more competitive rates, which will allow you to pay off your loan quicker. Due to the lower rates, buyers can also start planning for their next purchase.
For medical professionals who are self employed as a sole trader, they are also eligible even if their business has been operating for less a year, terms and conditions are different for different lenders.
Our Consultation Is Free
Do speak to us if you would like to know if you are eligible, our consultation is free and we are more than happy to help you to find a solution. Drop us a call on Whatsapp https://bit.ly/30kVSUB
