Industry Professional People

Loans for Specialist & Industry Professions.

Can Professional People Get Discount Interest Rates & Pay No LMI?

Yes, if you are able to tick the following, an Australian Citizen or hold a permanent residency Visa, Industry Sector, Occupation Qualifications, Income requirements and importantly meet the proposed lenders eligibility for Industry Sector Policy requirements you may be eligible to receive a discount on your mortgage interest rate and/or even pay No Lenders Mortgage Insurance Premium up to 90% of the purchase of your new home, investment property or refinancing your existing mortgage from one of our lenders.

A majority of lenders prefer to lend to professionals or specialist individuals for the main reason, they are lower risk borrowers with great income security in their specialised fields of practice.

If your profession is one of the following, an;
Accountant,
Actor or Actress,
Author,
Barrister,
Chemist,
Commentator,
Composer,
Director,
Doctor,
Dentist,
Engineer,
Film Maker,
Forensic Scientist,
Geologists,
Hydro-meteorologist,
IT Professional,
Immunologist,
Journalist,
Judge,
Lawyer,
Legal Practitioners,
Magistrate,
Medical Practitioner,
Model,
Musician,
Nurse,
Occupational Therapist,
Pharmacist,
Photographer,
Presenter,
Producer,
Quantity Surveyor,
Radiologist,
Singer,
Solicitor,
Sports Professional,
Teacher,
University Lecturer,
Veterinarian,
Writer,
Zoologist,

The successful way to maximise the most achievable interest rate discount and/ or pay No Lenders Mortgage Insurance is to know which lender prefers which industry professional type. For example, from the list of lenders that offer these professional loans, all lend to Medicos (Medical Specialist) however, a few will only lend to other types of professionals, who are higher income earners, have a strong credit profile, offer better comfort to lenders tend to purchase more than one property, therefore lenders offer incentives on interest rates and from time to time the lender will absorb the lenders mortgage insurance premium to secure these professions long term business.

Can Medical Industry Professionals Get A Discount?

Medical professionals are favoured more by lenders since they are known to be low-risk borrowers.  Out of all the occupations, these medical professionals have one of the lowest default ratings nationally of any profession which lenders adding that they are extremely profitable as a long term client.

To find out more about Medico Packages follow this link to our page Medical Professional Loans.

Can Sporting Professional Athletes Get A Discount Interest Rate?

Professional Athletes (all sports) are considered to be eligible to receive these discounts since lenders break down the profession into different categories and rank these professions differently.  Contact us at Neomoney to find out which sporting profession is suitable for special discounts and pay No Lenders Mortgage Insurance.

Additionally, Professional Coaches (all sports) and retired athletes still working within the sports or entertainment industry can be considered also.

Can Entertainers Get Interest Rate Discounts?

Similarly, to sporting professionals, entertainers in the field of;

  • TV
  • Film,
  • Theatre,
  • Music,
  • Fashion,

can receive interest rate discounts or special rate discounts. You would still need to meet the proposed lender’s credit criteria before qualifying for these benefits, however, we will help you through the loan process.  Contact us at Neomoney to find out how to qualify for special discounts and what offers are available.

How Do You Qualify For Interest Rate Specials?

 

Each professional applicant must meet the lenders standard lending credit criteria since each lender credit scores every applicant differently.

A few qualifications are:

+ Each professional applicant must have a clear credit history with no defaults, judgements or adverse hits on their credit file.

+ Total borrowing must not exceed 80% of the property value (some referred professions may be eligible at 90% of the property value and may be exempt of Lenders Mortgage Insurance).

+ Borrowing a minimum of $250,000 is eligible however the better discounts start at $500,000 and upwards.

+ An applicant must have stable employment or if recently changed employer to have been in the same profession or industry for minimum of 2 years.

+ If you are within a probation period, the application would be considered based on the merits and strength of your profession and overall position of employment.

+ For Self Employed Professionals, you will need 2 years of financial trading Tax Returns. If you have just started as a self-employed professional, you will need 12 months of current tax returns and 2 years in previous employment in similar occupation or filed with Tax Office Notices of Assessment to verify the previous income earned in your profession.

+ Professional Sport Athletes and Entertainment Persons, must have an accredited manager, Agent, or Accountant to be eligible.