Medical practitioners’ specialists and dental practitioners are eligible for finance from as little at 5% deposit to start your investment property portfolio.

You could save thousands on Lenders Mortgage Insurance (LMI) One scenario using one lender of many on our panel.

Benefits for eligible medical professional who applies for a new or increased lending and has a loan to value ratio (LVR) of up to 95% “Assessed” meaning your property valuation has returned a valuation of over 95% excluding your deposit.

If you’re buying this means you will only need savings of at least 5% of the property value, plus stamp duty.

If you’re refinancing, stamp duty doesn’t apply, and you may be eligible for this premium waiver based on the existing equity in your current property.

Lenders Mortgage Insurance (LMI) protects customers default on their home loan. Usually, LMI is required when you take out a home loan with a deposit less than 20% of the value of the property.

You are eligible for the LMI premium waiver if:

. you are a medical practitioner, specialist or dentist registered with the Australian Health Practitioner Regulation Agency (AHPRA}

. you have at least an equal or majority share in the property.

. you are borrowing $4.75 million or less to purchase or refinance the property.

. the property you are buying, or refinancing is a House/Townhouse valued at $5 million or less or a Unit/at $4 million or less.

. total home loan lending will be $8 million or less. 

Group 1

• Medical practitioner
• Dental practitioner (division must be ‘dentist’)

Specialists (Eligible specialists as identified in AHPRA as: Profession: Medical Practitioner Registration Type: Specialist).

Group 2

• Physiotherapist
• Chiropractor
• Optometrist
• Vets

HERE’S HOW MUCH YOU COULD SAVE WHEN BUYING WITH 5% DEPOSIT

LMI premium waived                                                   LMI premium paid

Property price $800,000                                                            $800,000

Deposit                $40,000                                                            $40,000

Amount to be borrowed $760,000                                         $760,000

Estimated stamp duties and fees $45,297                             $45,297

Lenders Mortgage Insurance premium $0 – waived            $36,187

Customer’s total cash contribution required $85,297         $121,484

CUSTOMER BENEFITS EVEN IF THEY ALREADY HAVE A HOME LOAN

If you are looking for extra funds to renovate, take a holiday or deal with unexpected expensed, you may be able to top up your existing lending without having to pay Lenders Mortgage Insurance.

Lenders Mortgage Insurance -LMI Waivers for the following Medical Practitioner with other lenders on our panel.

Eligible Medical Professions:

Medical Practitioners

Dental Practitioners

Optometrists

Veterinary Practitioners

Pharmacists

Eligible Specialists:

Anaesthestist

Dermatologist

GP

Pediatrician

Obstertrician

Gynaecologist

Phyician

Ophthalmologist

Pathologist

Radiation oncology

Radiologist

Surgeon

Approval of these LMI waivers is also subject to: Registration status and type with the Australian Health Practioner Regulation Agency via https://www.ahpra.gov.au/

Scenario: Other lenders on our panel.

Maximum LVR of 95% lending for new purchases or refinance only (investor interest only and ‘High Risk” security postcode restrictions apply)

No individual supporting security exceeds $4.5m

Customer’s total aggregated consumer lending does not exceed $7.0m

LMI for Partners of the following professional service firms:

Allens

Ashurst

Clayton Utz

Corrs Chambers Westgarth

Deloitte

Herbert Smith Freehills

SWL Ebsworth

King & Wood Mallesons

KPMG

Maddocks

Minter Ellison

Norton Rose Fulbright

PwC.

https://mortgagepass.com.au/#contact