Home Loans For Professionals – Accountants, Lawyers & Financial Planners
We offer Home Loans For Professionals to can assist and reward low-risk borrowers like doctors, lawyers, and accountants various professional individuals to obtain a home loan at a discounted cost, without the requirement for lenders’ mortgage insurance up to a 90% loan to valuation ratio, and without the need to validate genuine savings.
We can also help with the acquisition of other businesses, vehicles, and commercial properties for the Business. Some Australian banks favor Accountants, Solicitors, and financial planners above other professions because they are known to be a low-risk category than other borrowers, earn high incomes and have a higher chance of requiring larger and more diverse borrowings in the future.
These professionals also have one of the lowest default rates of any profession and are considered highly profitable clients by banks. Typically, when you borrow over 80% of the residential property value, banks will require you to pay LMI. This is a once-off fee that pays for the bank to be insured in case you do default on the loan resulting in a loss to the bank.
If you are eligible then some of our lenders offer to waive the requirement for LMI.
- Borrow up to 90% of the property value without paying any LMI.
- No need to validate deposits as genuine savings for loans up to 90%.
- Borrow up to 105% of the property value if your parents guarantee your loan.
- Special Discount Rates available. Subject to the Loan to Valuation Ratio.
- Maximum total lending is $4.5 million for your home and investment properties. Larger loans are available on a case-by-case basis.
- Can be used to purchase a new property or refinance your existing loan to release equity to buy more properties
There are special lending packages available for Accountants, Financial Planners, and Lawyers to be able to use the equity in their business to purchase other firms, practices, or Trail books.
This is a highly specialized area, but one of the teams at Professional Lending Solutions is very experienced with completing numerous transactions of this kind. We know which backs have the best policy and pricing for each industry so will work with you to get the best structure and the best price.
We can also finance your new car or equipment via a Lease, Hire Purchase, or Chattel Mortgage/Equipment Loan, and the benefits for you are:
- You can borrow the full cost of the equipment.
- There is no need to provide any other security.
- We obtain quotes from several competitive lenders.
- Minimal supporting information is required.
- We can obtain a quick approval and settlement.