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Credit assistance is subject to assessment, lender policy and individual circumstances.
Yes. Many lenders offer LMI waivers for registered medical professionals including doctors, dentists, specialists, pharmacists, vets and optometrists. Eligible borrowers may borrow up to 90% or higher without paying LMI. Eligibility depends on AHPRA registration, income type, lender policy and loan size. Conditions vary by lender.
Lenders count base salary, PAYG income and in most cases overtime and on-call allowances. Private practice income, trust distributions and locum income are assessed differently. Some lenders require 2 years of self-employed income history for doctors running their own practice; others will accept 1 year. A specialist broker can identify which lender policy fits your income structure.
Yes. Medical Finance Australia arranges both home lending and equipment finance for medical professionals. Equipment finance for medical devices, imaging equipment, dental chairs, surgical tools and practice fit-outs is available through separate asset lenders, typically with faster approval and no impact on your home loan serviceability.
Yes. Commercial premises and consulting room purchases for medical professionals are assessed as commercial property transactions. An SMSF can also purchase commercial medical premises in some circumstances. Lenders look at the lease terms, tenant covenant and property type. This is different from residential lending and requires a broker familiar with both commercial property and medico policy.
Yes, though lender policy varies. Some lenders accept foreign income for AHPRA-registered doctors at full value; others apply a currency haircut. The LMI waiver may still apply if AHPRA registration is current. This is a specialist scenario that benefits from a broker experienced in both expat lending and medico policy.
Goodwill is the intangible value of a medical practice above its physical assets. Most standard lenders do not finance goodwill. Specialist medical finance lenders will lend against goodwill as part of a practice acquisition, typically secured by the business cash flow and the purchaser's income. The lender assesses patient retention, revenue history and the purchase contract.