Mortgage For Professionals

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Mortgages for Professionals

Mortgages for Professionals Fact: Some Lenders extend special consideration to certain professionals enabling them to borrow up to 90% without Lenders Mortgage Insurance. That Can Save Up to $40,000 depending on the purchase price of the property.

Fox Mortgage Services have the knowledge and experience in providing these specialist facilities.

Are you looking for a mortgage for Professionals?

You could save thousands towards your home loan with a professional home loan package with no Lenders Mortgage Insurance (LMI).

When borrowing more than 80% of a property’s value, lenders require that the borrowers pay Lenders Mortgage Insurance (LMI) to protect the lender in the event that the borrower cannot meet the minimum repayments. However, there are specific occupations that lenders allow to borrow 90% of the property’s value without needing to take out LMI.

The occupations that generally fall into this category are lawyers, accountants, geologists, veterinary and medical professionals.

The medical profession covers a wide range of disciplines, from Anaesthetist to Vascular Surgeon, to find out if you are in a qualifying role contact us.

Why are some banks waiving LMI for Professionals?

LMI is designed to protect the lender against the possibility of default by its mortgage customers. However, some lenders have realised the chance of you, as a professional, defaulting is very low. Because of this, these banks are prepared to consider waiving the LMI premiums.

Who qualifies for this loan?

Professionals who demonstrate that they meet the following eligibility criteria:

Dependant on the profession there are minimum income requirements;
You’ll need to be an Australian Citizens or Permanent Residents;
You’ll need to be an Australian Citizens or Permanent Residents; You’ll need to provide current practicing certificate, industry membership and qualification, which permits you to practice in your jurisdiction;
Your property purchase must be either owner occupied or for investment purposes;
The maximum loan amount is $2 million;

What if I do not meet these criteria?

Even if you don’t qualify, we may still be able to arrange a home loan up to 85% with no LMI premium payable

Get in touch now to book an appointment with Fox Mortgages.

Examples of Professionals using this policy

You could top up your existing home loan to 90% and pay no LMI. This would release surplus funds which you can then use to fund the 10% deposit plus costs on a new investment (or owner occupied) property.

Providing the total transaction amount is below $2 million, you’ll have no LMI to pay. Not only that, we can source loan products specifically designed for Professionals. These include standard variable mortgages with package discounts, and fixed rate offers with features such as offset accounts and redraw.

What is the next step?

There is no cost for our service and absolutely no obligation. Contact Fox Mortgage Services for further information.

 

Teri Hayes
Teri Hayes
2024-02-04
Had our free appointment with Paul. He was great to deal with and super honest. We came away with a strong understanding of where we are at financially and where to next. Couldn't have been happier with the consultation. We felt Paul was very knowledgeable, not at all pushy and definitely encouraged us to go for the best deal for us regardless of any benefit to himself. All on a Saturday to fit in with our work commitments. Would highly recommend.
Melissa Bishop
Melissa Bishop
2024-01-27
Highly recommend . We were recommended Fox Mortgage Services through a friend. We are so happy with their services. They were professional and patient with us as we refinanced our home. They kept us informed at every stage of the process and made it easy and simple for us. Would highly recommend Paul and his team.
Tepora Puha
Tepora Puha
2024-01-11
Such an amazing team. I personally have dealt with Naomi and she is amazing. Communication is 2nd to none and then get from Paul, they appreciate and treat everyone well. Thanks you Team Fox. I highy recommend Fox Mortgages and happily let my friends know.
Jon Brown
Jon Brown
2023-12-18
I must admit that, despite being on my 4th house, I have never been to see a mortgage advisor. - Usually googled rates (or checked out finance websites) and done it myself. Having seen Paul at Fox Mortgages, I'm kicking myself that I have not gone to see a mortgage advisor before in my life as I'm sure I would have saved myselves thousands of dollars! Paul's wealth of knowledge of the market and all the products out there meant that he could find a lender that was willing to lend to us in our reasonably difficult position (2nd year in business), and also come up with a great rate. Paul and Naomi were great in keeping us updated with the progress of our loan, even in these uncertain COVID times and answered our plethora of 'first timer' questions. I definitely recommend that you go see Paul and see if he can help - even if you are on something like Keystart, he might be able to give you some advise to help you progress your finances quicker.
Ben McElwain
Ben McElwain
2023-12-16
Exceptional service. My experience dealing with Paul Fox Mortgages and his team, namely Naomi has been extremely punctual, proffer and very friendly. They have answered all my questions, handled the mortgage paperwork and kept me informed along the way. I cant recommend Paul Fox Mortgages more highly.
L Robbo
L Robbo
2023-12-14
We got our home! . Firstly I can’t recommend Naomi at Fox mortgages enough, she has been brilliant in helping us. Communication/knowledge and professionalism was shown throughout our first home buying experience and it all ran so smoothly from start to finish. I would highly recommend the Team at Fox Mortgage’s to help you secure your family home!
Anita Langton
Anita Langton
2023-12-13
Exceptional Service and Expertise . I recently had the pleasure of working with Paul from Fox Mortgages, and I couldn’t be more delighted with the experience. From the beginning, he provided invaluable advice that was both insightful and tailored to my specific needs. His customer-focused approach was evident throughout the entire process, making me feel like a priority. Paul and his company have truly mastered the art of efficiency when it comes to paperwork. The entire documentation process was not only easy but surprisingly swift. Their streamlined procedures ensured that I could navigate through the paperwork hassle-free, which was a breath of fresh air compared to my previous experiences. In summary, if you’re in search of a mortgage broker who combines exceptional advice, customer-centricity, and an efficient paperwork process, look no further than Paul and the Fox Mortgages team. I highly recommend his services and am grateful for the positive impact he had on my home refinancing journey. A true 5/5 star experience!
Sue Williams
Sue Williams
2023-12-13
Paul was fantastic
Erica Millward
Erica Millward
2023-12-07
The team at Fox mortgages were amazing! Made the process of getting our home loan so much easier. Took away most of the hassle & stress, couldn’t recommend them enough!
Rhyce Murphy
Rhyce Murphy
2023-11-29
Paul and Naomi, have once again done a fantastic job for us. They always go above and beyond to ensure everything is completed to a high standard. Thanks again guys