Doctors and medical specialists, in particular, are considered low risk by lenders as such when purchasing a medical practice:
- Medical practice property: Borrow up to 100% of the property value (freehold) with a maximum loan term of 25 years.
- Medical practice business loan: Borrow up to 100% of the business value (leasehold) including fitout and equipment. Max loan term (leasehold) is 10 years.
- Waived LMI or 100% no LMI.
- Interest rate discounts vary from lender to lender and the strength of your application.
- Low doc loans are available.
- Principal and interest + interest only repayments available.
- You may be asked to provide a business plan including business forecasting.
- You need around 3 to 5 years of experience as a qualified general practitioner (GP) or a medical specialist. Specialist with less experience are considered on a case by case basis
Speak with one of our specialist mortgage brokers who can help you structure your medical practice loan and get the best deal from our panel of 40 lenders.
Give us a call on 1300 889 743 or fill in our free assessment form to find out if you qualify for 100% no LMI home loans.
Cheers,