Medical Professionals

 

Medical professionals have unique needs and busy schedules. We handle your financial life with the same care and diligence that you provide to your patients. We have helped many doctors and medical professionals finance their dream homes, build investment portfolios, and gain valuable financial education along the way. Our goal is to make the process of obtaining a home loan as smooth and efficient as possible. By leveraging your stable employment and income, we can extend special offers that include discounted interest rates, fee reductions, and waivers.

Eligible medical professionals

Certain medical professionals are eligible for these special loan offers, including:

  • Cardio Thoracic Surgeon

  • Cardiologist

  • Clinical Pharmacologist

  • Cosmetic Surgeon

  • Dentist

  • Dermatologist

  • Ear, Nose, and Throat Surgeon

  • Emergency Surgeon

  • Endocrinologist

  • Gastro Intestinal Surgeon

  • Gastroenterologist

  • General Practitioner (Medical Practitioner)

  • General Surgeon

  • Gynaecologist

  • Haematologist

  • Hepatologist

  • Immunologist

  • Nephrologist

  • Neuro Surgeon

  • Neurologist

  • Obstetrician

  • Oncologist

  • Ophthalmologist

  • Optometrist

  • Oral and Maxillofacial Surgeon

  • Orthopaedic Surgeon

  • Orthopaedic Registrars

  • Otolaryngologist

  • Paediatric Surgeon (Neonatal/Perinatal)

  • Pathologist

  • Plastic Surgeon

  • Psychiatrist

  • Radiologist (Note: this does not include Radiographers)

  • Reconstructive Surgeon

  • Respiratory/Thoracic Surgeon

  • Rheumatologist

  • Surgeons

  • Urologist

  • Vascular Surgeon

  • Veterinarian

These roles are recognised for their expertise, reliability, and stable income, making them eligible for exclusive loan benefits. If you hold one of these positions, you can take advantage of tailored financial products designed specifically for your profession.

Benefits of professional packages

Working with My Finance Consultants to secure your next professional package loan includes several benefits:

  • Increased Borrowing Capacity: Borrow more than most borrowers without incurring additional fees.

  • Discounted Interest Rates and Fees: Enjoy reduced costs for your loan, making it more affordable. Professional package loans often come with lower interest rates and waived fees, ensuring you get the best deal possible.

  • LMI Waivers: Eligible professionals can benefit from Lenders Mortgage Insurance (LMI) waivers for loans up to 90% Loan to Value Ratio (LVR). This can save tens of thousands of dollars, allowing you to allocate those funds towards other financial goals or investments.

  • Investment Portfolio Growth: Build an investment portfolio faster by utilising smaller deposits for each property purchase. Receive expert advice on how to build and grow your investment portfolio using these professional package offers. Our brokers have extensive experience helping medical professionals maximise their investment potential.

  • Exclusive Offers and Benefits: Access to special offers and benefits that are not available to the general public. These can include preferential terms, faster approval processes, and more flexible repayment options.

  • Flexible Lending Criteria: Enjoy more lenient lending criteria, making it easier to secure a loan.

  • Apply for Loans in Company or Trust Structures: Secure financing under a company or trust name.

  • Joint Ownership Considerations: Obtain an LMI waiver even if the home is owned jointly by you and your spouse.

To get a better idea of your borrowing power and likely repayments, try our Borrowing Power Calculator and Loan Repayment Calculator. These tools can provide valuable insights into what you can afford and help you plan your financial future more effectively.

Mortgage insurance waiver

The most considerable benefit provided by these professional package offers for medical professionals is the LMI waiver. LMI is typically required for borrowers who are unable to provide a 20% deposit. However, as a medical professional, you can qualify for an LMI waiver with a deposit as low as 10%. This waiver can save you a significant amount, reduce your monthly repayments, and allow you to pay off your home loan sooner or build a larger investment portfolio.

Our team specialises in managing the entire loan process for medical professionals, ensuring a smooth and efficient experience. We understand the complexities of financial structures and have helped many surgeons, dentists, and optometrists finance their dream homes, build investment portfolios, and optimise their current lending. Let My Finance Consultants assist you in unlocking the full potential of your professional loan package.

Why choose My Finance Consultants?

We do all of the legwork

We compare hundreds of home loan options from a wide choice of lenders, including the big banks and specialist lenders. We handle every step, having a thorough process in place to qualify you with our lender panel to find the most suitable lending options for you. We organise all of the required paperwork, order lender valuations, liaise with your real estate agent and conveyancer for a smooth transition to settlement.

We provide a convenient service

Mortgage Brokers save you the time and hassle involved in applying for a home loan - from application through to settlement. We'll meet at a time and place that best suits you, to establish your needs and preferences. We then do all the research and running around to manage every step of the application process. This saves you shopping around - as we do it all on your behalf.

We provide professional advice

We are fully trained, and accredited with every lender we represent. We are full members of the Mortgage & Finance Association of Australia and we have many years of industry experience. We also have a number of consumer protection initiatives in place to protect you - our valued clients. As mortgage professionals, we seek to guide you through the lending process to help you make better financial decisions.

We help you select the right home loan

Our first priority is helping you select the home loan that’s right for you, now and into the future. Your Mortgage Broker will save you the time and hassle associated with shopping around for a home loan, they will also guide you through the home lending process to help you make better choices with your personal finances.

We will always try to save you money

We use comprehensive software which helps us pinpoint the most suitable and competitive home loan for you. Typically, our service can help cut the current interest rate you are paying as well as reduce your fees and monthly repayments. Using a Mortgage Broker is also a great way to figure out a strategy to maximise your borrowing power.

We don’t charge you a fee for our service

There is no charge to you for our services because the lender pays us a commission once your loan has settled. We do charge a commitment fee for home loan pre-approval applications, however we will refund this to you upon settlement of your home loan. We will always aim to provide a trusted, friendly and professional mortgage broking service.

Our clients have been saying some great things about us!

Whatever your goals, a competitive home loan will get you there faster!

Whether you're a first home buyer, upgrading to your next home, getting into property investment, or wanting to refinance and pay off your existing home loan sooner, we can help you make the right decisions and stay on top - whatever your home loan needs.

We'll compare more than 40 leading banks and lenders, as well as hundreds of home loan options to find one that's right for you. No matter what kind of mortgage you're interested in, you'll enjoy expert home buying and lending advice from a Mortgage Broker you can trust.

Our industry knowledge and sophisticated mortgage software allows us to assess and compare the hundreds of home loans that are available in the marketplace, we will calculate your borrowing capacity and identify which lenders you will qualify with.

If you're ready to start your home loan journey, give our friendly team a call on 1300 381 955 or visit the Book Appointment section on our website.

FAQs

  • Medical Doctors and Dentists can borrow up to a 90% Loan to Value Ratio (LVR) without incurring Lenders Mortgage Insurance (LMI).

  • Banks view Doctors and Dentists as higher and more stable income earners, thus posing less risk of default compared to other professions. This lower risk profile allows banks to waive LMI for these professionals.

  • Lenders Mortgage Insurance (LMI) is a one-off fee paid to an insurance provider when borrowing above a certain LVR, typically 80%. This insurance protects the bank by reimbursing them for any losses if they need to sell your property and make a loss on the loan.

  • If your profession is not on the list, you might still be eligible for an LMI waiver if you can demonstrate that your specialisation is a well-recognised field.

  • Yes, but only with some banks.

  • Yes, but only with some banks.

  • Yes, veterinarians are included in the eligible list.

  • You need to prove you are a practising and qualified medical professional listed on the Australian Health Practitioner Regulation Agency (AHPRA) website.

  • Yes, some restrictions may include:

    - Applying for Interest Only lending

    - The postcode and property type

    - Maximum loan size

    We will inform you during our assessment if any of these restrictions apply.

My Finance Consultants can help you achieve your goals. Send us a message. We’ll explain things in a way that makes sense & set you up for success!