Which lenders offer doctor home loans without a personal guarantee? Got declined by ANZ

Any general questions you might have in regards to loans and finance.
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Otto Dargan
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Re: Which lenders offer doctor home loans without a personal guarantee? Got declined by ANZ

Post by Otto Dargan »

Hello Warren. Welcome to the forums.

That’s ANZ’s policy for medico loans. However, there are a few banks and specialist lenders who offer home loan for doctors that do not need a personal guarantee as long as the applicant’s direct ownership and/or directorship is evident.

With a doctor home loan:
  • You can borrow up to 95% of the property value or up to 100% of the property value with select lenders
  • Qualify for waived LMI (Lenders Mortgage Insurance) or no LMI, a premium that is charged when borrowing over 80% of the property value.
  • Discounted interest rates and fee waivers not typically available to the general public.

We specialise in doctor home loans.

Speak with one of our specialist mortgage brokers by giving us a call on 1300 889 743 or by filling in our free assessment form to find out if you qualify for a 100% no LMI home loan.
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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Otto Dargan
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Re: Which lenders offer doctor home loans without a personal guarantee? Got declined by ANZ

Post by Otto Dargan »

Hi Warren,

Self-employed doctors tend to have unique income types, depending on how your medical practice is set up. The exact documents we will require will depend on the nature of how you’re paid.
Generally speaking, the documents required are:
  • Two year’s personal tax returns.
  • Two years trust tax returns.
  • A certified copy of the stamped trust deed.
  • A certified copy of the company constitution if there’s a company trustee.
  • 3 months invoices or a payslip with a 3 month YTD (Year to Date) income.
Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

User avatar
Otto Dargan
Mortgage Specialist
Posts: 7730
Joined: Sat Sep 06, 2008 5:55 pm
Location: Sydney, Australia
Contact:

Re: Which lenders offer doctor home loans without a personal guarantee? Got declined by ANZ

Post by Otto Dargan »

Hi Warren,

Yes, that’s absolutely correct, however, some lenders don’t have a minimum income requirement for doctors. There are two other primary qualifying criteria you’d need to meet to qualify for doctor home loans, such as: Speak with one of our specialist mortgage brokers today by giving us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for a 100% waived LMI mortgage.

Cheers,
Otto Dargan
Mortgage Broker
P | 1300 889 743
Home Loan Experts

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