Are you working in the Accounting, Legal or Mining, Energy and Resource Industry and have a Gross taxable income of over $150,000 (this can include current or proposed rental income)?
You may be eligible for specialist lending of up to 90% of the proposed properties value with no Lenders Mortgage Insurance. This could save you thousands of dollars and/or allow you to enter the property market much earlier than you first anticipated.
So who exactly can apply for this lending?
Accounting Eligible Occupations (Must be registered to practice as a CA, CPA, CFA or FIAA in Australia)
- Actuaries/ Auditors
- CFO’s (Chief Financial Officers)
- Finance Managers
Legal Eligible Occupations (applicant must be employed in one of the qualified occupations. Applicant is not restricted to any particular firm)
Mining, Energy and Resources Eligible Occupations (applicant must be a full current member of SSSI, AIMS, AIQS, FAIG, AusIMM, PESA)
- Mine Surveyors
- Quantity Surveyors
- Geologists/ Geophysicists
And what is it that you can qualify for?
- A maximum LVR of 90% with no LMI up to certain limits
- $3Million in NSW or VIC
- $2Million in QLD, TAS, SA, WA, NT, ACT
- No requirement of genuine savings
- Only one year’s financials necessary
- Lending can be in spouse’s name if necessary providing eligible applicant is party to the loan as a borrower or guarantor.
- Acceptable foreign currency income earned by Australian citizens or a Approved Permanent visa holder, may be used to meet minimum gross income.
- If the application contains multiple qualifying professionals, the combined income of the qualifying professionals must be a minimum of $150,000 per annum
The Policy has been developed to target a very specific group of professions and industries that have a strong risk profile, which provides comfort that the Bank can offer up to 90% LVR with no mortgage insurance requirement. All applicants must meet all eligibility requirement, i.e. Industry, Occupation, Qualification and Income no exceptions.
For full details and criteria, including a personalised report on exactly which products you’re eligible for, what interest rates you could expect, what other expenses you need to be aware of such as Stamp Duty estimates and legal fees Click Here for your Complimentary Home Loan Assessment and mention your job role so that we can make sure you get a tailored response to your specific field of expertise.