The concessions are real and substantial: LMI waivers up to 95% of the property value with some lenders, on very large loan amounts. The complications are practical rather than financial — registrars on rotating twelve-month contracts, income split between hospital PAYG and private billings, and a service entity structure that a generalist assessor cannot interpret. The income is never the problem. The presentation is.
Most buyers need a 20% deposit to avoid lender's mortgage insurance. Essential worker waivers remove it entirely — often tens of thousands of dollars that stays in your pocket.
Standard assessments count as little as 80 cents in every dollar of secondary income. Specialist policies count all of it, which directly raises what you can borrow.
Packaged income is routinely mishandled or ignored. Presented correctly to the right lender, it works in your favour rather than disappearing from the assessment.
With some lenders, yes. Medical professionals can access lender's mortgage insurance waivers up to 95% of the property value, and to higher loan amounts than most professions. Eligibility, maximum loan size and the list of qualifying specialties vary by lender.
Lists differ by lender but commonly include general practitioners, specialists, surgeons, anaesthetists, registrars, dentists and pharmacists. Some lists extend to allied health, and some exclude professions others include.
Generally not. Rotating and fixed-term training contracts are well understood by lenders active in medical lending, and are usually assessed as ongoing employment.
Through your financials, alongside any PAYG hospital income. Where practice income runs through a service entity or trust, it needs to be presented to a lender that assesses those structures rather than one that avoids them.