Loans for Medical Professionals

Two female doctors discuss loans for medical professionals

Specialist Loans for Medical Professionals

It takes years of hard work, commitment and a lot of financial compromises to become a medical professional. After all that effort, we believe medical professionals deserve a bit of extra financial help!

That is why the team at Professional Lending Solutions has made it our mission to go above and beyond when it comes to securing loans for medical professionals. We want to make sure your experience obtaining a home loan is as easy, affordable and stress-free as possible.

With extensive industry expertise and a variety of specialist lending services, Professional Lending Solutions will ensure medical professionals have a full grasp of the various options available to them. This includes a variety of lending solutions tailored to support the unique financial circumstances of those working hard in the medical industry.

Home Loans for Medical Professionals: Getting Started

The team of brokers at Professional Lending Solutions can assist doctors and other medical professionals to obtain home loans at a discounted rate, without the need to demonstrate genuine savings.

Our lending panel includes lenders offering specialist home loans for healthcare workers. These loans allow eligible medical professionals to secure a loan with a Loan-to-Value Ratio (LVR) of up to 90%, without the requirement for Lenders Mortgage Insurance (LMI).

Our finance brokers can also help doctors and other medical professionals with the acquisition of:

Medical equipment

Personal and work vehicles.

Commercial properties to be used as business premises.

Medical equipment purchased using loans for medical professionals
A smiling doctor meets with a broker to discuss home loans for medical professionals

Need Help Applying for Home Loans for Healthcare Workers?

We understand that buying a house can be stressful and complicated, especially when you’re navigating the process for the very first time. That’s why we want to make things easier for you.

At Professional Lending Solutions, our expert team of brokers can help you to:

Buy your first home.

Refinance an existing mortgage.

Purchase an investment property.

Obtain a competitive loan to purchase medical equipment.

We understand that, as a medical professional, you’re a very busy person. That’s why we will do everything we can to ensure you get the finance you need, with minimal stress. We’ll do the research, compare loan products and make expert recommendations…we’ll even handle the paperwork for you!

From initial contact right through to post-settlement, you can trust Professional Lending Solutions to take care of everything for you.

Understanding the Mortgage Basics

If this is your first time applying for a home loan, then you’ve probably already got some questions. What does LVR mean? Is Lenders Mortgage Insurance a good thing or a bad thing? What counts as genuine savings? Before we dive any deeper into specialised home loans for medical professionals, let’s clarify what a few of these terms actually mean.

Benefit from LMI Waivers on Loans for Healthcare Workers

Some Australian banks are willing to offer specialised loans for medical professionals. This is because doctors and other healthcare workers have one of the lowest default rates of any profession in the country. They’re also considered to be highly profitable clients by banks because they have the potential to earn substantial incomes and have a greater chance of requiring larger and more diverse borrowings in the future.

The average borrower will typically be charged LMI if their deposit is lower than 20% of the property value. However, some lenders are willing to make an exception for approved applicants working in the medical industry.

If you’re a medical professional purchasing a property that you intend to occupy, then you could potentially have your LMI waived for loans up to 95% LVR. Not only would this allow you to secure a loan sooner, with a smaller deposit, but it could also save you tens of thousands of dollars on Lenders Mortgage Insurance fees.

A smiling woman with a stethoscope is eligible for home loans for medical professionals
A group of medical professionals qualified for loan stand outside a hospital

Do All Medical Professionals Qualify for LMI Waivers?

Eligibility for these specialised home loan products will vary depending on a range of factors. For example, some lenders may impose postcode restrictions. This means that borrowers planning to purchase in certain “high-risk” suburbs may not be eligible for an LMI waiver. There may also be limitations when applying for interest-only loans for medical professionals.

While certain restrictions do apply, the following LMI waiver requirements have recently been expanded for medical professionals:

Individual supporting security will increase to $4.5 million (and the restriction on security location will be removed). This is a million-dollar increase, up from $3.5 million in capital cities and $2.5 million in all other areas.

The total aggregated NAB consumer lending amount will increase to $7 million, up from $5 million.

To find out more about your eligibility for a great range of specialised home loan deals, talk to the team at Professional Lending Solutions today.

How to Access Home Loans for Healthcare Workers

Medical professionals applying for a home loan can enjoy the benefits of special discounts like lower interest rates. However, when applying directly to a bank or lender, you won’t be automatically offered a lower interest rate, even if you are a medical professional.

The team at Professional Lending Solutions has access to a broad panel of lenders offering a great range of deals customised for healthcare workers. To ensure you get a competitive home loan that is ideally suited to your situation, book an appointment with one of our friendly brokers today.

A woman asks her broker about accessing loans for medical professionals

Medical Equipment Finance

Medical equipment is usually the largest non-property expense associated with setting up your own practice. However, investing in good quality equipment can significantly increase the returns for your business. This is why doctors need to have access to competitive finance options for equipment purchases.

We can finance almost any type of medical equipment including:

Med icon 1

Diagnostic Imaging Equipment

Med Icon 2

Medical Monitoring Devices

Med icon 3

Medical Laboratory Equipment

Med icon 4

Medical Software

(e.g. Radiology Information System / Picture Archiving and Communication System)

Med icon 5

Office, Surgery or Clinic Fit-Outs

Med icon 6

Personal or Business Vehicles

A doctor books an appointment with her broker online to discuss equipment loans for medical professionals.

How to Secure Medical Equipment Finance

We can help you obtain finance for your new medical equipment via a lease, hire purchase or chattel mortgage/equipment loan.

What are the benefits of securing medical equipment finance through Professional Lending Solutions? 

You can borrow the full cost of the equipment.

There is no need to provide any other security.

We will obtain quotes from several competitive lenders.

Minimal supporting information is required.

We can ensure quick approval and settlement, so you can purchase the equipment you need as soon as possible.

Who Can Apply for Loans for Medical Professionals?

Unfortunately, not everyone working in the healthcare industry will be considered eligible for ‘Medico Package’ discounts. Below is a list of preferred medical professionals that are eligible to apply for loans for healthcare workers:

What Other Eligibility Criteria Applies?

To be eligible for loans for medical professionals, you must also be able to provide proof of membership for one of the following associations:

Why You Should Use A Broker to Access Loans for Medical Professionals

It is possible for a borrower to approach a bank directly for advice about home loans for medical professionals. But there’s a good reason why we don’t recommend it. Going directly to one lender will severely restrict your potential loan options, meaning it is unlikely you’ll end up with the most competitive loan to suit your needs.

In contrast, when you talk to the team at Professional Lending Solutions, you can rest assured that you’ll gain the following benefits:

loans for medical professionals

Trustworthy Advice

Brokers are governed by legislation commonly referred to as ‘Best Interest Duty.’ Basically, this means that we are legally required to act in the best interests of our clients, at all times. We won’t (legally, we can’t!) recommend a finance solution unless we genuinely believe it is the best possible option for you (it’s worth noting that banks are NOT subject to ‘Best Interests Duty’).

loans for medical professionals

Wide Range of Lenders

We have access to an extensive lending panel, which includes loan products from the major banks, smaller banks and even independent lenders you’ve probably never heard of. This means we have access to a broad range of loan products, so we can find a loan that not only offers a great interest rate, but that also provides the loan structure best suited to your needs.

loans for medical professionals

Industry Expertise

Our comprehensive understanding of the finance industry is coupled with years’ worth of experience obtaining home loans for doctors and medical professionals. This means our understanding of your unique circumstances is unparalleled. If you want the best possible result, then it’s worth using a professional with years of industry experience.

loans for medical professionals

Save Time

It is theoretically possible for you to do your own extensive online research and compare loan products from a wide range of lenders. But who has the time for that?! Most doctors lead busy lives, often juggling demanding schedules. By working with an experienced mortgage broker, you can save valuable time navigating the complexities of the loan application process.

loans for medical professionals

Tailored Solutions

We specialise in tailored loan solutions to meet the specific needs of medical professionals. We understand the unique financial circumstances and income structures common in the medical industry, and we can customise your loan products accordingly. By working with a broker, you’ll receive financial solutions that align with your professional and financial goals.

loans for medical professionals

Negotiation Expertise

Our brokers have powerful negotiation skills honed through years of working with lenders. We can leverage our industry knowledge and pre-existing relationships to negotiate favourable terms, interest rates and fees on behalf of medical professionals. This can result in significant cost savings over the life of the loan, securing you the most competitive loan terms available on the market.

Experts at Medical Loans in Australia

At Professional Lending Solutions, we pride ourselves on being experts in securing specialised loans for medical professionals. This means that you can trust us to navigate the complexities of securing specialist loans tailored to the unique needs of those working in the healthcare industry.

Whether you’re seeking a mortgage, refinancing an existing home loan or pursuing equipment finance for your practice, our team of brokers is ready to assist. With our industry experience and established reputation, we can ensure you secure the right loan solution for your situation.

Contact us today to take the first step towards achieving your financial goals with confidence!

loans for medical professionals

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5-star reviews from happy clients!

Katie Watts
10:41 01 Apr 24
A heartfelt thank you!! Goes out to Phil and the entire team atProfessional Lending Solutions. Their unwavering support and guidance have been crucial in ensuring the success of my property journey. I am truly grateful for everything they have done and could not have accomplished this without their expertise and assistance.
Malin Burnand
05:29 07 Mar 24
Phil and Professional Lending Solutions helped us sort out a home loan on very short notice, and it was smooth and hassle free. We were very impressed with Phil's friendly and professional interactions. Thank you so much!
Austin Campion
09:45 06 Mar 24
Phil, Jenny and team worked tirelessly to get our transaction over the line. Given the tight timeframes, and more complicated refinance and purchase there were numerous credit conversations. We were fortunate to have their advice, industry expertise and ability to deliver under changing circumstances. Ultimately, Charlotte and I were able to settle on time and seamlessly with Professional Lending Solutions help.
Nick Brailsford
01:38 06 Mar 24
Fantastic customer service again and again. We have been with Phil and his team at Professional Lending Solutions for 5+ years now. Phil helps our small business with a variety of essentials, ranging from cash flow to equipment loans to vehicle finance and of course the complimentary personalised business advice that’s invaluable, which helps us to make educated financial decisions.
Charles Fraser
06:05 05 Feb 24
Phil and the team at Professional Lending Solutions provide a great service, have a wealth of knowledge, and conduct their business in a very professional and timely manner. I would recommend them to anyone looking for finance.
Sara Allan
03:51 13 Jan 24
We couldn't recommend Phil and his team enough! We've been working with Phil for about six months to get us to a position where we are able to purchase our own home, and are getting ready to move into our dream home as we speak.Phil's been straight up with us in regards to our options throughout the whole journey, and worked with his connections to get our application across the line amid investment property settlements, and the added complication of both of us owning our own businesses.We hope to never move again (!) but will be back to talk to Phil for our refinance options in the future 🙂
Rachel Pounder
23:25 08 Nov 23
Phil was amazing to work with, very knowledgeable and was a stress free process to refinance my loans. Would highly recommend his services.
Melissa Silk
09:40 11 Oct 23
Phil was recommended to us and we could not be happier with the result we achieved having him by our side for the sale of our home and the purchase of our new home.Phil was incredibly prompt, honest and professional. He addressed every single query (and there were MULTIPLE) in such a timely manner. Phil helped map out the nitty gritty details from the get-go with honesty and his professional opinion so that when we decided to go ahead and buy in this current market, instead of waiting, we were able to achieve settlement in such a tight timeframe (21 days to be exact). We will DEFINITELY be approaching Phil in the future and are 110% more than HAPPY to recommend him to friends and family. Jenny, thank you for being the behind-the-scenes magician during our entire journey. We are very appreciative of your hard work (especially in the moments right before settlement).
Ben Shields
22:32 20 Sep 23
I have been using Dean for all my financial requirements for a few years now, along with others in my family. He has become our family finance guy. He always finds the right deal, gives great advice and makes the journey easy. I recommend to anyone !
Anton Hermanto
05:34 31 Aug 23
I was recommended the service of Phil through my Real estate agent.,if you need assistance with your home lending please go and see Phil, exceptional service and with his corporate Banking background he understood our finance need and was able to recommended the right product for us.Thank you Phil & team
Andrew Thornton
01:20 28 Aug 23
Phil was brilliant. The turnaround for our re-mortgage was very quick, and Phil made the process seamless. Would recommend 10/10.
Keeley-Anne lowe
05:37 18 Aug 23
Phil & his team are amazingThey supported us through buying our first home in Australia, they were always on hand to answer our many questions either via email, phone or in person.Super professional but also down to earth and friendly- would 100% recommend
Jason in Byron Bay
08:30 17 Aug 23
Great team and very easy to work with with....Highly recommended
Dino Barone
07:38 17 Aug 23
I cannot express how grateful I am for the exceptional service I received from Phil during my journey to buy my first home. From the very beginning, his dedication to guiding me through the complex process of obtaining a mortgage was truly remarkable.Phil demonstrated a level of honesty and transparency that I never expected from a mortgage broker. He patiently walked me through all the available options, explaining every detail in a way that made sense. His expertise gave me confidence in the decisions I was making.What truly set Phil apart was his commitment to my best interests. He went above and beyond to find a loan that was tailored to my financial situation, ensuring that I wasn't taking on more than I could handle. His advice was always genuine and well-informed, and I never felt pressured into making any decisions.Throughout the entire process, Phil was incredibly responsive. He promptly answered all my questions, no matter how big or small. It was evident that he genuinely cared about my experience and wanted to see me succeed in securing the best mortgage for my new home.I cannot recommend Phil highly enough.
Eliza Smith
20:40 14 Aug 23
Phil and the team at Professional Lending Solutions worked with us efficiently to help us secure our family home. The team kept us informed and helped us every step of the way. Our experience with Professional Lending Solutions was fantastic and I would highly recommend!
Roland Peterson
22:59 03 Aug 23
This business does a very professional job and made the whole process of our financial application smooth and easy. Phil also was very responsible and respectful and i felt we could trust him and his process as well. Highly recommend this broker!
Nick Turner
06:52 02 Aug 23
As a first home buyer the whole process was a bit daunting. Phil and the team were in real and simplified the lot. They really went to battle with the banks for me (being self employed) and got me the best possible outcome. Can’t recommend them high enough !
Harley Beric
07:12 21 Jul 23
Phil and his team went above and beyond with the service they provided.I have been a long term client of PLS as I could not find a house that met my budget.Phil was very understanding as he listened to all my questions I had to ask. He provided me honest feedback which made me feel safe and comfortable that I made the right choice in choosing him.Because it was my first time buying, PLS answered every question I had without frustration or judgement as they had to explain things to me once, twice and something a third.It was a very stressful life decision that should not be taken lightly and with Phil and his team behind you, you will never be made to feel as if you made the wrong choice with choosing them as a Broker.Many thanks once again.
Sinead Broadmore
09:01 08 Jul 23
We couldn't recommend Phil and his team enough. They were amazing and so helpful through the whole process. Having only moved to the country 6 months prior it was a stressful situation for us but they made it so easy and stress free. Will definitely use them in the future if need be!!
Nathan Thomas
03:20 20 Jun 23
Phil and the team from Professional Lending Solutions were very easy to work with and as with the name states were very professional!For clarity I’ve known Phil for many years and I’ve seen how he was able to help others get into their first homes and even second homes. It was now our time for the team to help us.We had many questions and were able to get all the answers we needed to make the right decisions.If your looking for a professional team that takes the time to explain all the processes, keeps you informed and gets things done then take the time to give them a call to see how they can help make your dreams a reality!
Donna hughes
05:53 22 May 23
We went to see Phil to refinance our home loan and consolidate our loans. Phil was full of information and very professional. We couldn't believe how quick Phil had got everything done for us. So thankyou very much Phil we would definitely be referring family and friends.
Phil, Jenny and the team at Professional Lending Solutions were more than what we could of hoped for. Very informative and were there through every step of the process. We couldn't done it all without them. I cannot recommend them highly enough. Every single one of the team is friendly and totally professional and helped put us at ease through every step.Thank you!
Marie Hibbert
01:05 21 Mar 23
We were reccomended Phil and his team from word of mouth (people I work with). As first time buyers we had many questions and alot of learning to do. Phil and his team were always a email or phone call away and were happy to answer all the questions we had. The process was easy from our very first face-to-face meeting and we felt confident in putting our trust in this team. Thank-you so much for starting us on a property journey. We would highly recommend their business! Pete and Marie
Kyle Robinson
03:20 14 Mar 23
Phil & his team were absolutely amazing through the whole process of buying our home. They were happy to answer any and all of our questions no matter how silly they were and guided us through the whole process. They made buying our home stress free and let us enjoy all the excitement without having to be concerned about all the small details.If you are looking to buy a house or even just considering it you should definitely give Phil and his team a call. They will get you right on the path to your home.
Brent
00:27 14 Mar 23
Phil got our first home loan 8yrs ago when we thought we couldn't and since then we've refinanced several times to ensure best rates as well as a business car loan. Always a personal approach, highly recommended.
Michelle K
03:14 08 Mar 23
The best brokers in the business.Phil and the team at PLS went above and beyond to help us refinance our mortgage and find the best solution for our circumstances.Phil is professional and fantastic to deal with.Highly recommended!
jake smith
08:30 19 Jan 23
Very happy we went with Phil and his team, being our first home we didn’t know what to do or understand a lot about buying a property we just knew we wanted one and Phil and his team walked us through every step and made it easy! Would 200% recommend
Sarah Cameron
00:13 11 Jan 23
Mel, Phil and the team at Professional Lending Solutions were simply amazing. Nothing was too much of a hassle. They made the whole experience extremely easy, stress free and had it approved within 3 days. We couldn't be happier with the service and would highly recommend their business! Will be using again!
Kirsty Scott
07:53 15 Nov 22
Phil was incredibly helpful, patient and honest throughout the entire process of re-financing. I appreciated his thorough and detailed answers to my questions, as well as his amiable nature. He was open and spoke with great candour, ensuring the entire process was simple, stress free and, straightforward. All in all a top bloke and skilled broker who I would certainly recommend. Thanks again!
Lisa Vincze
10:00 29 Aug 22
You should use Phil and the team at Professional Lending Solutions! We have used them a couple of times and they make it so much easier to manage the mortgage process - and know you’re getting the best personalised deal. Phil is so lovely and very responsive. Will be using them again.
Jordan Summers
00:29 29 Aug 22
We recently went through the often stressful process of selling our home and purchasing another. Phil and his team came up with the best tailored finance solution for our situation and were always on hand to provide guidance around the process from start to finish.I couldn’t recommend Professional Lending Solutions any higher, they were simply superb to deal with!!!!
Jennifer McLeod
00:20 29 Aug 22
Many thanks to Phil and the wonderful Professional Lending Solutions team! Having Phil in our corner for our financial needs has played a key role in securing the appropriate home loans for us. Highly recommend!
Renee Agnew
02:57 04 Aug 22
Phil Verheijen has been fantastic in providing advice on all matters of the lending system for purchasing my first property. I can highly recommend Phil as he is genuine and professional. Also his friendly team were extremely helpful.
Diana Saragozza
04:19 27 Jun 22
Professional Lending Solutions were absolutely amazing. After several bad experiences with other brokers in the past. These guys were straight to the point, very professional, excellent customer service and got our loan approved so quickly. They provided support and advice before and after the purchase of our home.Highly recommended.
Michael Fryer
06:47 27 May 22
Dealing with Phil and the team at Professional Lending Solutions was amazing.Absolutely incredible communication and professional support and advice throughout.Phil was happy to answer all our questions and explained the process to us with great detail.If you ever need a good broker please do yourself a favour and see Phil. You will not be disappointed. Thanks again Phil and the team at Professional Lending Solutions. Keep up the great work.
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