Medical Health Professional Loans

Medical Loans for Doctors, Surgeons and many more eligible Health Professions

Can A Medical Healthcare Professional Buying A Property Pay No Lenders Insurance?

As a Healthcare Professional considering to purchase your very first home, a second home or your first or next investment property, who are a registered practitioner with the Australian Health Practitioner Regulation Agency (AHPRA), or Specialist as per the organisations in the below list, then Yes! We would suggest you contact us at Neomoney today, to find out all the available lenders products that are available to you to buy you desired property. You may be eligible for a Medical Healthcare Professional Loan at 100% finance which may save thousands of dollars in Lenders Mortgage Insurance premiums or alternatively if you don’t require a 100% finance facility and have a 10% deposit you may be eligible for the 90% loan facility. We have a number of lenders who want your business and are willing to waive the payment of the Lenders Mortgage Insurance Premium (LMI) up to either 100% or 90% of the property purchase price. Conditions do apply, however, we can advise which lender is offering a specialist product range that would meet your financial requirements.

Can I Receive A Interest Rate Discounts As A Medical Professional?

As a Registered Medical Professional or Eligible Associate, you may be eligible to receive a further discount on your interest rate and pay No Lenders Mortgage Insurance Premium (No LMI) up to 100% or 90% of the purchase price on your property or investment property.

A lenders rate discount is determined by the loan amount borrowed, since lenders have tiered discounts based on the accumulated amount borrowed  (Total loan size) for an Own Home purchase and an Investment Property purchase, as well as if the loan is a Principal & Interest (P&I) loan or an Interest Only (I/O) loan, these loan product will trigger different interest rates to reflect the required product .

Special Rate Pricing Discounts are on a case by case basis, factoring in, type of product, term of loan, size of loan.

Do I Need To Show I Have Saved A Deposit?

For an eligible Medical Professional loan, who only requires a 90% loan facility you don’t need to show the 10% deposit saved as genuine savings as would other borrowers applying for a minimal deposit loan.  The 10% deposit and the additional funds to cover the government stamp duty, transfer fees and associated costs, known as ‘Funds To Complete’ can be made up of savings, borrowed funds, and/or gifted funds.  At the time of the loan submission, the lender would require evidence of ‘Funds to Complete’ to ensure you are able to settle the purchase come time for settlement.

At the time of the loan submission, the lender would require evidence of ‘Funds to Complete’ to ensure you are able to settle the purchase come time for settlement. If these Funds to Complete are to be borrowed, let us assist you to acquire these funds as long as the totals borrowings are affordable within your budgets.

Can Any Loan Purpose Qualify?

These Healthcare Professional Package offerings can be used for the following purpose for;

+ Refinance an existing property loan,

+ Purchase for a first home buyer

+ Purchase for a second home buyer,

+ Purchase an investment property,

+ Construct your dream home.

Business-related loans;

+ Refinance your practice up to 90% or to 100% loan based on the value of your practice,

+ Purchase new Premises,

+ Purchase new Premises in a SMSF

+ Purchase new Equipment plus new business fitouts

Plus many other products and services available.

How Do I qualify?

To qualify for these Professional Package loan discount facility:

You need to be an Australian Citizen or have Permanent Residency or VISA Approval.

If you are a Temporary 457 VISA Holder, are eligible for purchase an owner-occupied property only.

You will need to provide a copy your Australian university degree or qualification, or registration with the Medical Practitioners Board of Australia or equivalent body. We list below the specialty organisations that our leaders have approved.

If you are a First Home Buyer, you may wish to apply & use the First Home Owners Grant towards the purchase costs.

Dependent on the lender of choice or lender credit policy, the minimum 5% Genuine Savings Deposit policy may not apply since our lenders don’t apply the Lenders Mortgage Insurance policy (LMI) requirements as No LMI is payable.

Your income must be derived in Australia, additionally, you need to show the ability to show servicing current liabilities plus new lending liabilities.

+ You will also need to meet the lender credit criteria.

+ All applicant’s must have clear credit history.

List of Australian Recognised Medical Specialties

Specialty

Anaesthesia, Pain Medication

Qualifications

Fellowship of the Australian and  New Zealand College of  Anaesthetists (FANZCA)

Specialty

Intensive Care Medicine

Qualifications

Fellowship of the College of  Intensive Care Medicine of  Australia and New Zealand  (FCICM)

Specialty

General Practice

Qualifications

Fellowship of the Royal Australian College of General Practitioners (FRACGP)

Specialty

Diagnostic Radiology, Diagnostic Ultrasound, Nuclear Medicine, Radiation Oncology

Qualifications

Fellowship of the Royal Australian and New Zealand College of Radiologists (FRANZCR)

Specialty

Dermatology

Qualifications

Fellowship of the Australasian  College of Dermatologists  (FACD)

Specialty

General Practice

Qualifications

Fellowship of the Australian College of Rural and Remote Medicine (FACRRM)

Specialty

Emergency Medicine

Qualifications

Fellowship of the Australasian College for Emergency Medicine (FACEM)

Specialty

Sport and Exercise Medicine

Qualifications

Fellowship of the Australasian College of Sports Physicians (FACSP)

Specialty

Physiotherapy

Qualifications

Registered with AHPRA

Specialty

Oral and Maxillofacial Surgery

Qualifications

Fellowship of the Royal Australasian College of Dental Surgeons (Oral and Maxillofacial Surgery) (FRACDS (OMS))

Specialty

Medical Administration

Qualifications

Fellowship of the Royal Australasian College of Medical Administrators (FRACMA)

Specialty

General Medicine, General Paediatrics, Cardiology, Clinical Genetics, Clinical Pharmacology, Community Child Health, Endocrinology, Gastroenterology and Hepatology, Geriatric Medicine, Haematology, Immunology and Allergy, Infectious Diseases, Intensive Care Medicine, Medical Oncology, Neonatal/Perinatal Medicine, Nephrology, Neurology, Nuclear Medicine, Paediatric Emergency Medicine, Palliative Medicine, Respiratory and Sleep Medicine, Rheumatology

Qualifications

Fellowship of the Royal Australasian College of Physicians (FRACP)

Specialty

Rehabilitation Medicine, Sexual Health Medicine, Palliative Medicine, Public Health Medicine, Occupational and Environmental Medicine, Addiciton Medicine, General Medicine, General Paediatrics, Cardiology, Clinical Genetics, Clinical Pharmacology, Community Child Health, Endocrinology, Gastroenterology and Hepatology, Geriatric Medicine, Haematology, Immunology and Allergy, Infectious Diseases, Intensive Care Medicine, Medical Oncology, Neonatal/Perinatal Medicine, Nephrology, Neurology, Nuclear Medicine, Paediatric Emergency Medicine, Palliative Medicine, Respiratory and Sleep Medicine, Rheumatology

Qualifications

Fellowship of the Australasian Faculty of Occupational and Environmental Medicine (FAFOEM)

Fellowship of the Australasian Chapter of Addiction Medicine, Royal Australasian College of Physicians (FAChAM)

Fellowship of the Australasian Chapter of Palliative Medicine, Royal Australasian College of Physicians (FAChPM)

Fellowship of the Australasian Faculty of Public Health Medicine (FAFPHM)

Fellowship of the Australasian Chapter of Sexual Health Medicine, Royal Australasian College of Physicians (FAChSHM)

Fellowship of the Australasian Faculty of Rehabilitation Medicine (FAFRM)

Specialty

Cardio-thoracic Surgery, General Surgery, Neurosurgery, Orthopaedic Surgery, Otolaryngology – Head and Neck Surgery, Paediatric Surgery, Plastic and Reconstructive Surgery, Urology Vascular Surgery

Qualifications

Fellowship of the Royal Australasian College of Surgeons (FRACS)Fellowship of the Royal Australasian College of Surgeons (FRACS)

Specialty

Obstetrics and Gynaecology, Gynaecological Oncology, Maternal-Fetal Medicine, Obstetrics and Gynaecological Ultrasound, Reproductive Endocrinology and Infertility, Urogynaecology

Qualifications

Fellowship of the Royal Australian and New Zealand College of Obstetricians and Gynaecologists (FRANZCOG)

Specialty

Ophthalmology

Qualifications

Fellowship of the Royal Australian and New Zealand College of Ophthalmologists (FRANZCO)

Specialty

Psychiatry

Qualifications

Fellowship of the Royal Australian and New Zealand College of Psychiatrists (FRANZCP)

Specialty

General Pathology, Anatomical Pathology (including Cytopathology), Chemical Pathology, Forensic Pathology, Haematology, Immunology, Microbiology

Qualifications

Fellowship of the Royal College of Pathologists of Australasia (FRCPA)

Are Medical Associations Eligible?

Yes, we enclose a list of eligible Medical Associations below.

Eligible Associations

Australian Veterinary Business Association Australian Association of Practice Managers Australian Veterinary Association
Australian Dental Association (ADA) Australian Medical Association (AMA) Australian College of Cosmetic Surgery
Optometrists Association
Royal Australasian College of Surgeons (RACS) Royal Australasian College of Physicians (RACP)
Urological Society of Australia and New Zealand

What if I don’t qualify for these Medical lists?

Even if your profession is not listed above we recommend you contact us regardless, as we still may be able to assist you with a rate discount or request for a special ruling be implemented just for your situation.