Westpac Doctor Home Loan Review | Home Loan Experts

Westpac has devised its own set of solutions to help relieve some common pain areas for doctor home loans. Westpac offers a medico policy, a medico package, a professional package, and Westpac professional services.


Westpac’s Medico Policy

  • Medico clients can borrow up to 90% LVR with no LMI.
  • Max loan amount $5 million ($7.5 million total lending with LVR greater than 80%).
  • Free redraw available on fixed-rate loans.
  • No bank statements are required if refinancing from a lender reporting on Comprehensive Credit Reporting (CCR).
  • Casual income is calculated over 48 weeks (conditions apply).
  • Only one year of financials is required for self-employed income verification (conditions apply).
  • The income used to meet the income threshold requirement must be from the applicants’ qualifications.
  • If the application contains multiple qualifying professionals, the combined income of the qualifying professionals must meet the minimum gross taxable income stated above.

No minimum income requirement for:

The following medico qualifications will require a minimum gross annual taxable income of $90,000.

Please note that you must be a member of one of these professional associations to be eligible for a doctor’s home loan.


Westpac’s Services

Buying medical equipment

Whether you’re leasing or buying, Westpac can help you finance the most up-to-date medical equipment and motor vehicles for your business without tying up a lot of cash. The bank offers pre-approvals for 100% of the loan amount, up to $350,000.

Investing in property

Westpac has created lending policies suited to your specific needs, allowing you to use the value of your practice to start or expand your property portfolio.

The bank’s offers consider the value of your professional reputation, cashflow, and goodwill, and you might get a Loan-to-Value Ratio (LVR) of up to 90% for practice loans.


Get Connected To An Expert

At Home Loan Experts, our brokers are available to assist you with your day-to-day needs. Throughout the life of your loan, we’re committed to providing exceptional customer service.

With years of experience in the mortgage industry, we’re passionate about delivering high-quality service and support to doctors. Please call us on 1300 889 743 or complete our free assessment form.

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