Question 1

Can doctors borrow more than 80% without paying LMI?

Accepted Answer

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.

Question 2

What income do lenders count for doctors and specialists?

Accepted Answer

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.

Question 3

Can I finance medical equipment through the same broker as my home loan?

Accepted Answer

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.

Question 4

Can I buy my consulting rooms or practice premises through a specialist broker?

Accepted Answer

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.

Question 5

Can a doctor get a home loan while working overseas?

Accepted Answer

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.

Question 6

How does practice goodwill finance work?

Accepted Answer

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.

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