What are Professional Package Loans?

Professional Package Loans are specialised mortgage products designed for professionals and non-professionals alike who are existing homeowners, first-time buyers, and property investors. These loans provide borrowers with a range of benefits, including a discount off the annual interest rate and additional discounts on other finance and insurance products if they are bundled together with the professional package.

The interest rate discount offered to borrowers is typically based on the size of the loan. The larger the loan, and the lower the Loan to Value Ratio, the higher the discount. Generally, lenders offer discounts of 0.40% to 1.20% off the standard variable rate loan, but eligibility for this discount is subject to the lenders’ credit criteria.

Professional Package Loans are available for loan amounts ranging from a low minimum of $250,000 up to $1,000,000, or even higher depending on the borrower’s serviceability and the lender’s credit criteria.

It’s important to note that borrowers need to meet the lender’s credit criteria to qualify for these loans. So, it’s essential to speak with a mortgage professional to find out if you’re eligible for a professional package loan and to determine which lender offers the most favorable or suitable terms for your unique financial circumstances and lifestyle goals.

Why You Need a Credit Adviser for Professional Home Loan Packages

Professional Home Loan Packages come with unique features and criteria that differ across various lenders. Therefore, it is crucial to seek guidance from an experienced Credit Adviser (Mortgage Broker) who has a comprehensive understanding of the packages and criteria of each lender. More importantly, the Credit Adviser should also take into account your specific financial lending requirements in both the short and long term. This ensures that the benefits and savings associated with the Professional Home Loan Package are apparent when you take it up. So, if you’re considering a Professional Home Loan Package, it’s recommended that you consult with an experienced Credit Adviser like us at Neomoney to guide you through the process.